WalletHub: Gary Previts, Distinguished University Professor Emeritus at Weatherhead School of Management, offered tips for parents who want to open a bank account for their child. “A bank account of course should be from an FDIC-insured entity and should be paying market rates, not the .01%, which continues to appear in many accounts,” he said. “In addition to banks, there are also insured NCUA Credit Unions, which offer a touch of community.”
