I made him a checking account at axos. It's a joint account. He has an atm card. $12 of monthly reimbursements available for atm fees so that he can use the on campus atm machine without penalty

For my daughters at home, atm fee reimbursement isn't that important (its easier to find free atms at home) but zelle is very important. I made my daughter a checking account at capital one. (also a joint account)

These joint accounts only work for children between the age of 13 -17

For my daughter under 13 I have a custodial savings at ALLY. Strangely enough although she's the sole owner of the account she has zero control over it. No atm card or ability to login and view her account

I made her an email address for zelle purposes. The email address is associated with my zelle profile but I setup a rule: All deposits coming to mydaughter@gmail.com should be deposited in her account, all other deposits go to my checking account

I have managed to setup a cashapp account for my daughter older than 13 but it was a pain since she doesn't have her own smart phone. I don't recall what the steps were. Some of her babysitting clients like to pay her via cashapp and it did come with an atm card.

I also just setup custodial accounts for them at ally invest. For my kids the flow can be. 1. people zelle them money and it goes into the custodial savings or teen checking. 2. when a decent amount accumulates I transfer the cash to ally invest and invest it.

Anyone else have ideas on sensible ways to manage children's money?

@proud-waiter-61863 👀