Take the first step with our youth accounts
Learning to save and spend wisely takes practice. Help your child or grandchild build financial independence one step at a time with our youth products and services. At every stage, we’re here to provide guidance and support.
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Good financial habits start early
Our SaveWise™ and SpendWise™ accounts work together to help your child or grandchild learn valuable financial skills like saving toward a goal, understanding how money works, and creating a budget.
Teach your child the basics of saving and spending
Set up your child for a lifetime of success
It’s never too early to start putting money into an RESP. Choose between a family plan for more than one child in a single family, or an individual plan for one specific child in your life.
SaveWise
An account specially designed to
maximize your child's savings
- Ages 0 – 14
- Premium interest rate on the first $2,000
- No monthly fee
- Send funds easily with free
Interac e-Transfer® - Free deposits and Quick Change
- Does not include a debit card for purchases or ATM access
SpendWise
Your child's first chequing account for
day-to-day spending
- Ages 0 – 18
- Earns interest daily, paid monthly
- No monthly fee
- Unlimited transactions, including
Interac e-Transfer® - Skip ATM surcharge fees at most Canadian credit unions*
- Includes a debit card for purchases and ATM access
Set more money aside with government matching
With an RESP, the federal government matches up to 20% of the first $2,500 of per year.
Choose from a variety of savings options
Our RESPs are available in a variety of savings types, including variable savings, GICs, or mutual funds**.
Access to funds when and
how your child needs
If your child delays their
post-secondary education, they’ll have up to 35 years to use the funds.
Interac e-Transfer® is a registered trademark of Interac Corp. Used under license.
*Includes Canadian Credit unions that are part of the ding free network. ®ding free is a registered trademark of Central 1 Credit Union, used under license.
**Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.
Rate subject to change without notice.
Current rate as of October 24,, 2024.
4.70%
ON FIRST $2,000 IN
SAVEWISE ACCOUNT
*