M&T Starter Savings Account

It’s never too early to start saving. Open an M&T Starter Savings Account, designed for kids and anyone under the age of 18.

Top Features

  • A great way for young kids to learn responsible money-management habits
  • No minimum balance requirement to open the account and no monthly maintenance charge{{d349*}}
  • Conveniently access and manage your account
  • Accounts are FDIC-insured up to the maximum applicable limit
  • Take advantage of tools that may help keep you informed and in charge of your accounts


Subject to transaction and service fees. Customers should refer to the:

  • Specific Features and Terms for this account
  • Additional Fees and Fees for Use of Electronic Banking Card for Consumer Savings Accounts 

Is this product right for you?

This product is best for people who:

  • Are under the age of 18 and interested in saving  
  • Are parents, grandparents or adults who want to be jointly titled on the account to help teach the child how to manage money safely and responsibly
  • Are custodians (parents or others) who want to maintain control of a savings account for a child 

Eligibility Requirements

  • Only available for those under the age of 18
  • May require a custodian to be placed on the account; account custodian must be over age 18
  • You’ll need the child’s Social Security Number and birth certificate for age verification when opening the account at your local M&T Bank branch
  • Note: Accounts can only be opened by individuals under 18 years of age. Eligibility to maintain an M&T Starter Savings account does not end when you reach 18 years of age.


There are account setup options that control the child’s experience with the account. Children can have full access or none at all, depending on how the account is titled.

Although this account cannot be opened by someone 18 or older, there is no automatic conversion of this account to another savings account type. Custodians who manage this account for a child are responsible for closing the account and distributing the funds.

Interest Rates

Interest rate is compounded daily and paid monthly. This is a variable-rate account, and the rate may change after the account is opened. All interest rates and Annual Percentage Yields (APYs) stated are accurate as of today's date. Fees could reduce earnings on the account. Rates may vary by region.

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