Baby Savings Accounts

 Do any of you know of a good bank for children's savings accounts? I want to start putting money each month in an account for Joshua and add the money he gets for gifts in there as well. The bank I have only has accounts that require a high minimum balance aside from the Free Checking I have with direct deposit. 

Hmmm - our credit union has kid accounts that require $25 to open it/keep it open, but I don't think it's a national chain or anything.  Have you called around?  I prefer credit unions to banks so you might want to start there.  Also, a 529 (college savings account) would be a great place to put money into as well! 

 Thanks for the info. I've been researching and it seems ING has a good kids account that links directly to your checking and generates decent interest. No minimum balance required which I really like and you can directly desposit. 

ING has good savings rates (about 1-2% higher than regular banks) and very low fees. Its a bit of a pain getting the money out but if you're trying to save then that's a good thing.

We've always purchased US Savings Bonds. They are available at any bank or credit union. http://www.savingsbonds.com/rates.cfm