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[quote=Anonymous]My kids have checking/savings accounts and Burke and Herbert.  I initially had to get the debit cards in my name because the kids were too young to be issued cards in their names.  I set it up so that if there was an overdraft, funds from savings would NOT automatically be used to cover the overage.  I wanted the kids to experience the consequences of overdrafts.

When the kids got jobs, my requirement is that half the paycheck goes into savings and the kid don't have online capability to transfer funds out of savings and into checking.  I can do that, I've also linked all our accounts so that I can transfer money between all the accounts.  It's been really helpful (kids are now ages 15-18) because it's easy for me to reimburse them for stuff I'd typically buy.  I can also 'loan' them money from their savings account when needed.  My oldest will be going to college and we're working on getting him a credit card through the bank as well.  We plan to put all expenses that will be covered by his 529 on the card.  He'll build credit and it'll be easier to track expenses. [/quote]

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