Kids Earn Money Online: High-Yield Accounts (7-10% APY)

Here’s ⁤a‍ breakdown of ‍the savings options‍ discussed in the text, categorized for clarity:

Youth Savings Accounts (Ages 0-19)

WECU First Step Savings: 7.00% APY on up to $500. available to those who live, work, or worship in Washington state.Also offers checking accounts (age 6+) and‍ teen credit cards (age 15+).

High-Yield Savings Accounts (HYSAs): Currently up to 5.00% ⁤APY, with⁢ several⁣ options paying 4.30% or better.
Money Market Accounts (mmas): Best current nationwide rate is 4.80% APY, with others paying 4.00% or higher. (Offer paper checks)
Certificates of Deposit (CDs): Best current nationwide rate is 4.60%⁤ APY. (Lock in rate⁣ for a set term)

Critically important Note on Safety:

* All mentioned credit unions and banks are federally insured – either by the NCUA (credit unions) or the FDIC (banks) – protecting deposits up to $250,000 per depositor.