Student banking
No monthly fee while you study, and no catch at graduation
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Personal
Youth & child accounts
Their money, your oversight, and nothing hidden from either of you
Overview
Accounts for children and teenagers, opened by a parent or guardian. Under-13s get a savings account you manage together; from 13 they get a card with limits you set and can change at any time.
Both of you see the same transactions. Nothing in the app shows the child something you cannot see, or shows you something the child does not know you can see.
Why HBI
Banking that says the price first
Every HBI personal product is built the same way: one published fee, one published rate range, and the conditions written on the page rather than in a footnote. You should be able to work out what something costs before you speak to anyone.
When your circumstances change, the product should change with you. Moving between account tiers is free, paying off credit early carries no penalty, and we write to you before a fee that affects you changes.
What you get
Everything that is included
The full list, not the highlights. If something is not here, it is not included.
Features
- HBI Sprout custodial savings account from birth, with no fee and a 4.00% APY
- HBI Step debit card from age 13, with no monthly fee and parent-set limits
- Gambling, adult and crypto merchant categories permanently blocked
- Chores and allowance scheduling, paid automatically from the parent account
- Savings goals the child sets, with optional parent matching
- Instant freeze from either the parent or the teenager’s app
What you need to qualify
- A parent or legal guardian with an HBI account
- The child’s Social Security number and date of birth
- The guardian’s photo ID
- Both guardians’ consent where joint guardianship applies
Not sure you qualify?Speak to a banker before applying. A conversation costs nothing and does not touch your credit report.
Pricing
Fees & rates
Published here, and the same figure you will see in your quotation.
| Account | Age | Monthly fee | Interest |
|---|---|---|---|
| HBI Sprout | 0 – 12 | Free | 4.00% APY |
| HBI Step | 13 – 17 | Free | 3.00% APY on balance |
| HBI Student | 18 – 27 | Free while studying | Savings pockets at tiered rates |
Fees and rates are reviewed annually and published at least 30 days before any change takes effect. Terms and conditions apply.
Good to know
How we look after you
Three commitments that apply to every personal product, this one included.
Thirty days’ notice of any fee change
Fees are reviewed once a year. We publish changes at least thirty days ahead and write to you directly when a change affects a product you hold.
Your deposits are protected
Deposits are insured by the FDIC up to $250,000 per depositor, per ownership category. Coverage is automatic and costs you nothing.
A complaint goes to a person
Tell us first and a named case handler replies within two business days. If we have not resolved it in twenty, you can submit a complaint to the Consumer Financial Protection Bureau at no cost.
Questions
Questions clients actually ask
If yours is not here, a banker will answer it directly.
The child. A Sprout account is a custodial account: the balance is theirs, and the custodian manages it until the child reaches the age of majority in your state.
Only if you enable it. Online use is off by default on Step cards, along with a permanent block on gambling and adult categories.
The account converts to Student if they are enrolled in college, or Everyday if not. We write to both of you thirty days beforehand.
Yes. The account has a normal account number, so anyone can transfer into it. Only the guardian can take money out.
Related
You may also want
Products clients commonly hold alongside this one.
Savings accounts
Instant access, a published rate, and no fee to hold it
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Checking accounts
One monthly fee, every everyday transaction included
View
Personal
Ready to take this further?
Apply online in about ten minutes, or ask a banker to call you at a time that suits.