Teaching kids the value of money is one of the most important life lessons we can impart. And what better way to kickstart their financial journey than with a dedicated place to save their hard-earned allowance or gift money? We’re not talking about opening a traditional bank account just yet (though that’s a great next step!), but rather a tangible, engaging tool that helps them understand saving, spending, and even giving. Finding the best bank for kids savings can make this learning process fun and effective.
From classic piggy banks to high-tech money safes, there’s a whole world of options designed to spark a child’s interest in money management. These tools don’t just hold cash; they help cultivate crucial saving habits and foster financial literacy from a young age. Let’s dive into our top 10 selections for the ultimate kids’ money banks that are both educational and exciting!
Reviews of the Top Kids’ Savings Solutions
Here’s a closer look at some fantastic options to get your little ones on the path to financial smarts.
Wooden Give Save Spend Money Saving Box for Kids
This charming wooden piggy bank offers a clear, visual way for kids to understand money allocation. Its unique “GIVE SAVE SPEND” compartments are not just aesthetically pleasing but also a fantastic educational tool, helping children differentiate between various financial goals. The transparent acrylic front lets them see their money grow, building excitement and a sense of accomplishment. It’s a wonderful blend of functionality and style, perfect for decorating any child’s room while teaching vital budgeting skills.
- Key Features:
- Made from high-quality acrylic and wood.
- Visualized design allows clear observation of savings.
- Three compartments labeled “GIVE SAVE SPEND.”
- Space-saving design, can be hung on a wall.
- Magnetic lid for easy access and secure closure.
- Pros:
- Excellent for teaching basic budgeting and financial categories.
- Durable and aesthetically pleasing design.
- Encourages a tangible understanding of money growth.
- Versatile placement options (desk or wall-mounted).
- Easy to clean.
- Cons:
- Requires manual sorting of money into compartments.
- Limited capacity for very large savings goals over time.
- Not suitable for very young children who might not grasp the concept.
- User Impressions: Parents frequently praise this bank for its clear categorization and its effectiveness in teaching kids about money responsibility. Many appreciate how it makes financial education a visual and engaging activity, fostering good habits early on.
- Call to Action: See it on Amazon here
Classic MoonJar Award Winning SAVE SPEND SHARE Educational Moneybox
The MoonJar is a multi-award-winning moneybox that breaks down financial learning into three simple, easy-to-understand categories: Save, Spend, and Share. Designed specifically for small hands, its unique diamond-shaped tin canisters are unbreakable and color-coded, making it super intuitive for kids to manage their allowance. It’s an incredibly practical and engaging way to introduce children to the fundamental concepts of money management, truly making it a strong contender for the best bank for kids savings.
- Key Features:
- Award-winning 3-in-1 moneybox system.
- Three diamond-shaped, unbreakable tin canisters.
- Canisters labeled “Save,” “Spend,” and “Share.”
- Color-coded acrylic lids with money slots for coins and folded bills.
- Easy-to-remove acrylic band holds canisters together.
- Pros:
- Excellent for introducing financial concepts like charity alongside saving and spending.
- Durable and safe for children.
- Color-coding aids in identification for younger kids.
- Portable individual canisters for bank trips or counting.
- Multi-award winner, indicating strong educational value.
- Cons:
- Tin material might dent over time with rough play.
- Requires children to manually distribute funds.
- Slot size might be restrictive for very thick folded bills.
- User Impressions: Many parents rave about the MoonJar’s simple yet effective approach to teaching financial responsibility. Its distinct compartments are a hit, and the “Share” section is particularly lauded for instilling generosity in kids.
- Call to Action: See it on Amazon here
Mczxon Wooden Give Save Spend Money Saving Box for Kids
Similar in concept to the first product on our list, this Mczxon money-saving box also employs the “Spend, Save, Give” system, but with a slightly different design that emphasizes accessibility and clear visibility. Made from durable acrylic and wood, it allows kids to plainly see their growing savings in each compartment. This transparent feature is fantastic for motivation, helping kids track their progress towards various goals and developing smart money habits in a fun, tangible way.
- Key Features:
- “Spend, Save, Give” three-compartment system.
- Made from durable acrylic and wood.
- Clear surface to observe savings growth.
- Easy to open top wooden panel and side acrylic panels for access.
- Appropriate slot size for coins and folded bills.
- Pros:
- Promotes budgeting and goal-setting skills effectively.
- Clear design provides visual motivation for saving.
- Easy for children to access and move funds between compartments.
- Durable construction ensures longevity.
- Encourages generosity from an early age.
- Cons:
- Requires manual organization of money.
- May not appeal to kids looking for more “high-tech” saving methods.
- Transparency might make some money appear less “safe.”
- User Impressions: Reviewers often highlight how this piggy bank simplifies complex financial ideas for children. The clear compartments are a big hit, as kids love watching their money accumulate, making the saving process feel more rewarding.
- Call to Action: See it on Amazon here
Refasy Banks for Kids, Electronic Piggy Bank ATM Bank
For kids who are a bit older and fascinated by technology, the Refasy Electronic Piggy Bank offers a modern twist on saving. This ATM-style bank comes with password protection and an automatic paper money scroll feature, making the act of saving feel exciting and grown-up. It’s designed to simulate a real ATM experience, complete with sounds and lights, which can significantly boost a child’s interest in managing their pocket money and setting savings goals.
- Key Features:
- Made from high-quality, durable ABS plastic.
- Four-digit electronic password protection (customizable).
- High capacity for coins (600) and paper money (100).
- Automatic paper money scroll mechanism.
- Simulated ATM design with sounds.
- Pros:
- Engages kids with a high-tech, interactive saving experience.
- Password protection adds a sense of security and responsibility.
- Automatic bill feeder is fun and encouraging.
- Generous capacity for long-term saving.
- Helps develop good saving habits through play.
- Cons:
- Requires 3 AA batteries (not included).
- Paper money feeder might not work with very old or soft bills.
- Password reset requires removing batteries, which resets all data.
- Less emphasis on categorized saving (like Save/Spend/Give).
- User Impressions: Children absolutely love the interactive features, especially the automatic money feeder and the secret password. Parents appreciate how it makes saving feel like a game, keeping their kids motivated to stash away their cash.
- Call to Action: See it on Amazon here
PLAYSHEEK Piggy Bank for Girls Boys Large Electronic Money
The PLAYSHEEK Electronic Money Bank is another excellent option for tech-savvy kids. This large-capacity ATM-style bank is not just a money holder but an interactive saving gadget. With password protection, automatic bill feeding, and sound effects, it turns saving into an adventure. Its durable, odorless ABS plastic construction ensures safety and longevity, making it a thoughtful gift that combines fun with crucial financial education.
- Key Features:
- Made from safe, odorless, anti-aging ABS plastic.
- Large capacity: 600 coins or 100 paper bills.
- 4-digit password protection (default and customizable).
- Automatic paper money scroll with sound.
- Coin slot for traditional piggy bank use.
- Pros:
- Interactive features make saving exciting and engaging.
- Password offers security and teaches responsibility.
- High capacity suits long-term savings goals.
- Can also store small personal treasures like jewelry or cards.
- Easy password reset by removing batteries.
- Cons:
- Requires batteries to operate.
- Cash feeder can be finicky with certain bill conditions.
- Focuses primarily on accumulation rather than budget categorization.
- User Impressions: Kids are thrilled by the “secret vault” aspect and the satisfying sound it makes when money is deposited. Parents find it a creative way to encourage saving, noting that their children are more excited about putting money into this bank than traditional ones.
- Call to Action: See it on Amazon here
Mczxon Spend Save Give Piggy Bank for Kids, Money Coin
This Mczxon piggy bank is another variation on the popular “Spend, Save, Give” system, emphasizing clarity and ease of use. It’s crafted from durable acrylic and wood, featuring a transparent front that lets children visually track their money. This model is designed to be particularly user-friendly, with easily accessible compartments that allow kids to count or move funds without hassle, making it a superb tool for developing long-term smart money habits.
- Key Features:
- “Spend, Save, Give” three-compartment system.
- Constructed from durable acrylic and wood.
- Clear front panel for visible savings.
- Easy-to-open panels for fund access and movement.
- Appropriate slot size for various denominations.
- Pros:
- Effectively teaches budgeting and goal-setting.
- Clear design offers visual reinforcement for savings.
- Simple to use for children, promoting independence.
- Encourages early acts of generosity.
- Robust and aesthetically pleasing.
- Cons:
- Manual sorting required.
- No digital features for those preferring modern tech.
- May seem less “exciting” than electronic options for some kids.
- User Impressions: Similar to other “Spend, Save, Give” models, customers appreciate its straightforward approach to financial education. Many parents report that their kids quickly grasp the concepts and enjoy watching their money grow in the distinct sections.
- Call to Action: See it on Amazon here
Mczxon Wooden Give Save Spend Money Saving Box for Kids
Yet another excellent offering from Mczxon, this wooden savings box is practically identical to product #3 and #6, reaffirming the strong educational value of the “Give, Save, Spend” model. Its clear acrylic and wood construction makes it both robust and visually engaging, allowing children to see their money accumulating in designated compartments. This design is consistently praised for helping kids build fundamental budgeting skills and understand the multifaceted nature of money.
- Key Features:
- “Give, Save, Spend” three-compartment system.
- Made from durable acrylic and wood materials.
- Transparent design for clear visibility of savings.
- Both top and side panels are easy to open for access.
- Appropriate slot dimensions for coins and folded bills.
- Pros:
- Promotes essential financial skills like budgeting and goal setting.
- Clear compartments provide excellent visual motivation.
- Simple and accessible for children to manage funds.
- Encourages charitable giving.
- Durable construction for lasting use.
- Cons:
- Relies on manual money sorting.
- No electronic or interactive features.
- The “bank” aspect is purely a physical container, not a financial institution.
- User Impressions: Consistently positive feedback highlights the bank’s ability to teach kids about money in a straightforward and practical way. Many parents note that the visible progress in each compartment genuinely motivates their children to save more.
- Call to Action: See it on Amazon here
Wooden Cash Money Saving Box, Piggy Bank for Kids & Adults ($10K Challenge)
This unique wooden money saving box turns saving into a structured challenge, perfect for slightly older kids or even adults looking to achieve a specific financial goal like $10,000. It features a transparent panel with numbers, allowing users to mark off amounts as they deposit, creating a clear visual roadmap to their target. This tactile and goal-oriented approach makes saving less abstract and more like a game, fostering strong habits and commitment.
- Key Features:
- High-quality, thick wooden construction.
- Mortise and tenon structure for stability.
- Transparent panel for easy tracking of savings.
- Printed with numbers for a $10,000 savings challenge.
- Comes with double-sided stickers and an erasable pen for tracking.
- Pros:
- Excellent for motivating towards a large savings goal.
- Visual tracking system provides clear progress.
- Durable and reusable material.
- Easy assembly with clear instructions.
- Promotes financial responsibility for various ages.
- Cons:
- Requires a higher level of commitment for the $10,000 goal.
- Less suitable for very young children without guidance.
- Does not separate funds into “spend/give” categories.
- A manual process, no electronic features.
- User Impressions: Users love the challenge aspect, finding it incredibly motivating to check off numbers as they save. Many appreciate its sturdy build and the satisfaction of seeing their progress visibly charted, making it a great tool for achieving specific goals.
- Call to Action: See it on Amazon here
Piggy Bank for Kids – Electronic Money Saving Box w/Code
The KiddieVault is an electronic money-saving box designed to make saving an exciting, interactive experience for kids. It combines the thrill of a secret passcode, an automatic money feeder, and engaging lights and sounds to create a “real vault” feel. This product aims to empower children by giving them charge of their own mini bank, transforming the chore of saving into a fun, high-tech adventure that keeps them motivated.
- Key Features:
- Customizable secret passcode for locking/unlocking.
- Automatic money feeder with flashing lights and sounds.
- Vibrant lights and fun sounds upon deposit.
- Realistic vault experience with turning knob and secure door.
- Requires 3 AA batteries (not included).
- Pros:
- Highly interactive and engaging, making saving fun.
- Teaches responsibility through passcode management.
- Automatic feeder adds a “wow” factor.
- Realistic design encourages imaginative play.
- Great gift for birthdays or holidays.
- Cons:
- Requires batteries for full functionality.
- Focuses more on saving than on categorized budgeting.
- May encourage a reliance on technology for a basic concept.
- User Impressions: Children are absolutely captivated by the secret code and the automatic money suction feature. Parents often comment on how this bank successfully turns saving into a game, making their kids eager to add money and check their “vault.”
- Call to Action: See it on Amazon here
Cute Piggy Bank, Coin Bank for Boys and Girls
Sometimes, simplicity is key, and this cute plastic piggy bank delivers just that. It’s a classic, lovable design that appeals to kids of all ages, providing a straightforward and secure place for them to store their coins and banknotes. Made from lightweight yet durable plastic, there’s no worry about it breaking easily, making it a safe and long-lasting first bank. Its ease of use and charming appearance make it an timeless choice for introducing the concept of saving.
- Key Features:
- Super cute, classic piggy bank design.
- Perfect size for children (5.9×4.7×5.1 inches).
- Made from lightweight, strong, and durable plastic.
- Easy to store coins and banknotes.
- Reusable, with a removable bottom for withdrawals.
- Pros:
- Simple, classic design appeals widely.
- Durable and unbreakable, safe for active kids.
- Easy for children to use independently.
- Affordable and practical first money bank.
- Teaches basic saving without complex features.
- Cons:
- No advanced educational features like categorization or password.
- Less interactive than electronic models.
- May not excite older children as much.
- User Impressions: Customers frequently praise this piggy bank for its undeniable cuteness and its robust, kid-friendly design. It’s often cited as the perfect first piggy bank for toddlers and young children, fulfilling the simple need for a safe place to put money.
- Call to Action: See it on Amazon here
FAQ: Finding the Best Bank for Kids Savings
Q1: Why is it important for kids to have a savings bank?
A1: Giving kids their own savings bank is crucial for fostering financial literacy from a young age. It teaches them about the value of money, the concept of delayed gratification, setting goals, and the satisfaction of watching their savings grow. It’s a tangible way to introduce them to money management skills they’ll use for life.
Q2: What’s the difference between a kids’ piggy bank and a traditional bank account?
A2: A kids’ piggy bank (or money box) is a physical container where children can store their cash, helping them visualize and interact with their money. A traditional kids’ savings account, offered by a financial institution, is a digital account that usually earns interest and provides a more secure way to save larger amounts, often with parental oversight. Piggy banks are a great first step before transitioning to a real bank account.
Q3: At what age should I introduce my child to a savings bank?
A3: You can start as early as 3-4 years old with a simple piggy bank. At this age, they begin to understand that money is exchanged for goods. By 5-7, they can grasp concepts like saving for a specific toy. As they get older (8+), you can introduce more complex systems like “Save, Spend, Give” or even electronic banks with passwords to deepen their financial understanding.
Q4: How can I make saving money fun and engaging for my child?
A4: To make saving fun, consider banks with interactive features like automatic bill feeders, secret passwords, lights, or sounds. Set clear, achievable savings goals (like a new toy) and offer incentives or matching contributions. Using segmented banks (Save/Spend/Give) can also make budgeting feel like a game. Regular discussions about their savings progress and celebrating milestones can also boost their enthusiasm.
Q5: Are electronic piggy banks safe for my child’s money?
A5: Yes, electronic piggy banks are generally safe for storing cash at home. Many come with password protection, which adds a layer of security and teaches kids about keeping their money safe. However, they are not insured like bank accounts, so for very large sums, a traditional bank account is always recommended. They are more about teaching responsibility and engagement than high-level security.
Q6: How do the “Save, Spend, Give” banks work, and are they effective?
A6: “Save, Spend, Give” banks divide a child’s money into three distinct compartments. “Save” is for long-term goals, “Spend” is for immediate wants, and “Give” encourages charitable donations. These systems are highly effective because they visually and tangibly teach children about budgeting, prioritization, and generosity, helping them develop a balanced approach to money management.
Q7: What features should I look for when choosing the best bank for kids savings?
A7: Look for durability, ease of use for their age group, engaging features (like clear panels, interactive sounds, or password protection), and educational value (like ‘Save, Spend, Give’ compartments or goal-tracking). The ideal choice often depends on your child’s age, interests, and the specific financial lessons you want to impart.