Opening a bank account for your baby may seem unnecessary at first, but it’s one of the smartest financial moves new parents can make. From teaching money skills early to building a foundation for future college savings, an account in your child’s name can quietly grow for years. Yet many parents rush into it without understanding the options or the fine print. The truth is, the wrong type of account can limit flexibility—or even create future tax issues. Here are five things every parent should know before opening a bank account for their little one.
