We at Start Bank believe the best way for responsible teenagers starting their first job to learn about saving money, managing money, and taking charge of their own money is for them to take charge of their own bank account. So we created this exclusive account which allows teens involved in sponsored job programs to sign up for direct deposit, avoid the cost of cashing a weekly paycheck with no bank account, and avoid carrying cash on their persons.
Our Youth@Work savings account is available exclusively to participants in good standing in the current City of New Haven Youth@Work summer jobs program, or to teens who are sponsored by non-profit organizations and have completed our financial literacy “Loot Camp”.
Here are the highlights of the account:
- Sponsorship of an umbrella organization is required
- Available for teens between the ages of 14 and 18
- No parent or adult consignor is required
- No monthly fee
- No minimum balance requirement
- No charge for the direct deposit of the account holder’s weekly pay
- Interest is paid on all balances starting at $20 and above
- E-statements only – no paper statements are mailed
- Account information can be accessed 24/7 using Start E-Banking! or by calling our toll free Telephone Banking number 1-800-481-0584
- Withdrawals at Start Bank ATMS and our network of Allpoint ATMS are surcharge free
- ATM only card is issued with a daily cash withdrawal limit of $100
- If the account holder wishes to withdraw an amount higher than $100, the transaction can be executed with a Start Bank teller
- If the account holder wishes to make deposits into the account, the deposits can be executed with a Start Bank teller
To find a list of Allpoint locations: download a mobile app, call 800.976.4917, or visit Allpoint's website
NOTE: If an ATM withdrawal is made outside of our network, START charges a $2 fee and the other institution may charge a fee as well.