|
What is the Savings Lock?
KidsSave was designed to encourage saving. Sometimes kids need a
helping hand. With KidsSave, parents can enable the savings lock which
limits the amount of savings kids have access to. For example, if the
savings lock was enabled at 50%, then half of the deposits (including interest,
matching funds, and automatic allowance) would be subject to a lock, the
equivalent of a "hands-off". If your child opens an Account
balance with $100,
then 50% of $100, or $50 would be available for withdrawal. Each time a
deposit is made, 50% would be subject to the lock. However, the lock can
be over-ridden if necessary.
|
