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Tuesday, October 17, 2017

Happy State Bank - Est. 1908

Kid's Bank Program - Happy State Bank

Kids' Bank - Questions & Answers

An account can be opened in the child's and parent's name. To be an owner of an account the bank has five requirements:

  1. Name
  2. Social Security Number
  3. Date of Birth
  4. Physical & Mailing Addresses
  5. Valid Driver's License Number (if over 16 years old)

Q: Is this a "real" savings account?
A: Yes. Your child will be assigned an account number when the account is opened at Happy State Bank.

Q: Is there a charge for the Account?
A: No. Savings accounts will not have a service charge unless the student exceeds the withdrawal limitations of four per quarter. Each excessive withdrawal is then $2.00.

Q: Is there a minimum balance?
A: No. Minors can open an account with any amount and do not have to maintain a minimum balance.

Q: Does this savings account earn interest?
A: Yes.

Q: When is the interest paid on the savings account?
A: The interest is accrued on a daily basis, compounded and paid quarterly.

Q: Who can make deposits?
A: The parent(s) or child can make a deposit into the account. We cannot accept parents' payroll checks, insurance checks, tax refunds or anything of this nature.

Q: Who can make a withdrawal?
A: Any signer on the account can make a withdrawal at any time.

Q: Where can deposits be made?
A: Deposits can be made at the school when the savings bank is open or at any Happy State Bank location.

Q: Where can the withdrawals be made?
A: The withdrawals can be made only at a Happy State Bank location.

Q: How many accounts can my child have?
A: One per child.

Q: Who will accept the money at the School Kids' Bank?
A: Happy State Bank will train students to be "tellers" and will be supervised by a parent volunteer and a Happy State Bank employee.

Q: Who can I call if I want to know my account balance or have questions about
this account?

A: There are several places that you can get information on the account:

  1. Any Happy State Bank branch
  2. Happ-eBank Online Banking at www.happybank.com
  3. Express Line (806) 359-7737 or toll free (866) 359-7737