How School Savings™ works
Volunteer parents manage the program at the school

On Deposit Day, students bring money to school for deposit. Generally before school or
during lunch break, parent volunteers enter the deposits online at
www.schoolsavings.com. After all deposits are collected, the Volunteer deposits the
funds at a local participating financial institution. School Savings electronically
credits the students' accounts with their deposit. There is no minimum deposit or fee
for participation.
Deposits made at
school
appear on the students' regular account statement. Students earn 10 Super Saver Points
for each deposit made at school, regardless of amount. An incentive system manages the
Points system and rewards students for frequent deposits through a national awards
program.
You can review FDIC regulations
regarding school banking programs here. FDIC School Banking regulations
'Know Your Customer' identification
regulations are different for school children. Banking regulators accept confirmation of school
registration from school districts as acceptable identification for opening a bank account. KYC Regulations for
Youth Accounts