SMARTstart

With Oxford FCU’s new SMARTstart spending account, kids can begin banking with a parent or guardian. In addition to the convenience the account offers, it's the perfect opportunity to teach kids how to manage their money and make good decisions.

We also have a SMARTStart account for working teens.

When your child needs money for any reason (field trip, away games, lunch, etc.), you won’t need to come up with cash. Parents can easily transfer or send money to their child’s account.

SMARTstart gives kids a place to save or spend their allowance, birthday money...

With digital banking, you can both monitor transactions.

With myCards, you can set spending limits, establish places their card can/can’t be used, receive alerts when a transaction is made , turn the card off and on as needed and more.

Take advantage of financial education resources and exclusive rewards.

SMARTstart for Working Teens

If you are under 18 and earning your own money, let us help you manage it with an account that is all yours. No parent or guardian needed. Features include:

Contactless spending (debit) card that can be added to digital wallets.

Easy-to-use digital banking to manage your account.

Direct deposit and mobile deposit for paychecks.

Opportunities to earn rewards with financial education.

Personal support to answer any questions you have.

Automatically convert to an OFCU4U account when you turn 18.

Questions

How old do kids need to be to have a SMARTstart account?

You tell us! As a parent, you'll know when your child is ready for the responsibility of managing money. If you think they are not quite there yet, talk to us about a card that will access your current account but have the same limitations as SMARTstart. We'd love to have a conversation to see what is best for your family.

Teens (under 18) who are working and earning a paycheck can open their own SMARTstart account without a parent or guardian.

Is there a limit to how much my child can spend?

Yes. The official daily limit is $500 - but with myCards you can set transaction limitations as necessary.

Is my child able to overdraft the account?

Nope.

If I am not an OFCU member, how can I put money in my child's account?

You (and others) can send money via Venmo, MetaPay, Apple Cash and other peer-to-peer apps. You can use Zelle to send money if your financial institution offers it.

Are SMARTstart accounts limited to one child per adult?

No - for instance, you can have two parents on one child's account or one parent with three children who all have their own SMARTstart account.

Can my child monitor their account to see transactions, available balance, etc.

If your child has a mobile phone, tablet or laptop they can download the digital banking app so you can teach them how to do all those things!