I found an excellent website providing the information you need regarding what type of bank account is needed to save for college. www.savingforcollege.com
Whatever money, tip, or allowance you have received, earned, or rewarded, don't be greedy enough to put into your bank account or piggy bank until you find and prepare for the college you have chosen.
A children's bank account is usually a custodial savings account. This type of savings account allows parents to save money for their children's futures.
To deposit their savings in a bank, people typically visit the nearest bank branch or use online banking services to transfer funds from their personal account to their savings account. They can also deposit cash or checks into their savings account through an ATM or mobile deposit.
in a bank
A deposit-only bank account allows you to safely store money without the risk of spending it impulsively. It can help you save for specific goals and build a financial cushion for emergencies.
A 529 Plan saves money for college tuition and is there is tax advantages for enrolling in this plan. It encourages family to save for their children's college fund.
Save 100,000,000 bells in your bank account.
It really depends how long you have to save and how much you plan on saving. If you need to save money and in lower amounts in a short period of time it's safest to just put it in a high interest savings account with the bank. If you have a longer period of time I would go with a financial adviser and invest it.http://www.savingadvice.com/forums/personal-finance/19056-how-much-save-kids-college-what-about-life-insurance.html
yes, hence the name saving account.
A child savings account is a bank account that allows and teaches your child to save their money in a safe and responsible way, at a bank instead of somewhere at home where it can get lost.
Grants and scholarships are a huge help. So if you want to invest, invest in some tutoring or classes that will help your girls get ahead of their classes. Opening a bank account for each of them and putting in just a small amount of money in a month really make a big difference.
Banks are the financial intermediaries of the economy. Without them there will be no financial prosperity. Banks accept deposits from people who have surplus and lend out loans to people who need the money. They offer other services like bank accounts, credit cards etc. So, the money you save in a bank will given out as a loan and will help someone else.