Use a small town bank where you have a relationship with the people at the bank instead of having a 1-800 number to call in to for help. This maximizes the ability for the bank to watch out for you and minimizes the ability to have constant 24×7 access to the bank and usually smaller banks have fewer locations available for transactions.
Bank in person instead of the ATM. Bank regularly at the same location and introduce the tellers and managers to your child. Have people pay your child with a check as often as possible, this will force them to learn how to make deposits.
Open accounts and put your name on them as well as your child’s. Sign up for online banking at the bank. Download the bank’s app if they have one.
Sign up for Mint (www.mint.com) and add your account and your child’s account to your Mint account list. Make sure the bank you choose is compatible with Mint before deciding on a bank.
Set alerts in Mint to alert you to large withdrawals or deposits. Log in regularly to watch the balance.
Do not choose a bank where your primary accounts are held so that inadvertent linkages and/or mistakes do not happen. Do not link your accounts to the child’s accounts in case the child withdraws more money than is in the account. Do not sign up for overdraft protection. Force the card to be denied if it goes below zero balance.
Write your child’s account number down in a safe place.