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Absolutely! Your child will receive a special gift1 when opening a new checking account with us. You’ll receive one as a referral gift, too!
See our latest checking gift and promotions >
If a parent will be a co-signer on the account, we’ll ask for identification from the parent. When a child or minor opens an account without a parent, we may use a student ID card. However, if they don’t have one, identification by a family member, friend, banker or teacher may be acceptable.
In addition to the above forms of ID, we’ll need the minor’s Social Security number.
It’s simple! Stop by any of our convenient locations, and we’ll be happy to assist you with opening a checking or savings account for your child. Please note that accounts must be opened in person for ages 17 and under.
Plan to provide your child’s:
Ages 18 and older may open a checking account or savings account online.
All ages are welcome! There is no minimum age necessary to open a Totally Free Checking, Premium Interest Checking, BankOn Checking or any savings account with Gate City Bank.
For ages 17 and under, please note that a parent or legal guardian is required as a joint owner for checking accounts, Money Market Savings, High Yield Savings and Coverdell Education Savings accounts. A parent or legal guardian is not needed to open a Regular or Relationship Savings account.
Our Preferred Perks Checking2 account is available exclusively for ages 18 and older.
It’s easy to set up alerts and monitor your child’s spending with the Gate City Bank mobile app and online banking!
Using our mobile app, simply:
If you prefer to log in to online banking, you can set up account alerts by navigating to “Tools” and clicking “Alerts.” Go to “Accounts” and choose your child’s account to get started.
While both savings and money market savings accounts are FDIC-insured, there are three main differences between the two accounts. The first difference is the minimum-balance requirement:
The second difference is in interest earned. Money market savings accounts have a higher minimum balance requirement but will earn a higher interest rate than a traditional savings account. View our current rates for savings accounts and money market savings accounts.
The final difference is free checks are provided to access your funds with money market savings accounts. Checks are not available with traditional savings accounts.
1 Gate City Bank reserves the right to substitute any gift for one of similar value.
2 Available to individuals ages 18 or older upon approval of account opening. Access to features may be subject to additional terms and conditions and is subject to change.
3 Maintain the minimum daily balance to maintain the disclosed annual percentage yield (APY). For a high yield savings account, if the balance falls below $50,000, interest rate and APY will adjust to the lower yield. The interest rate and APY are accurate as of the effective date shown above only, and are subject to change without notice, at Gate City Bank's discretion. Fees, including service fees, may apply and could reduce earnings on the account. See our Schedule of Fees for details.
4 As a benefit to young savers, any minimum balance requirements are waived for customers ages 17 and under.
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