Teaching kids about money management from a young age is one of the most valuable lessons you can impart. A good bank for kids isn’t just a place to stash coins; it’s a tool that helps them understand saving, spending, and even sharing. With so many options out there, from classic piggy banks to high-tech ATMs, finding the perfect one can feel a bit overwhelming.
That’s where we come in! We’ve scoured the market to bring you a carefully curated list of the best banks for kids available right now. Whether you’re looking for something simple for a toddler or an advanced electronic money bank for an older child, we’ve got fantastic picks that will make learning about finances fun and engaging. Let’s dive into our top choices and find the ideal bank to kickstart your child’s financial journey!
Our Top Picks for the Best Banks for Kids
1. Piggy Bank for Boys, Refasy Electronic Piggy Banks Password…
This electronic piggy bank from Refasy is a fantastic blend of fun and functionality, giving kids a taste of secure money management. It stands out with its robust ABS plastic construction, ensuring it can withstand a child’s playful handling. The password protection adds an exciting layer of security, making kids feel like they have their own secret vault. Plus, the automatic paper money scroll feature is a real crowd-pleaser, making depositing bills feel like a trip to a mini ATM!
Key Features:
- High-quality ABS plastic material, safe and durable.
- Four-digit electronic password protection (default 0000, changeable).
- High-capacity design: stores 600 coins or 100 paper bills.
- Automatic paper money scroll function.
- Recommended for ages 3+ years old.
Pros:
- Secure with password protection, giving kids a sense of responsibility.
- Large capacity encourages long-term saving.
- Automatic bill feeder is engaging and exciting for children.
- Durable and sturdy design for active kids.
- Excellent for teaching saving habits and financial discipline.
Cons:
- Requires 3 AA batteries (not included).
- Paper money can sometimes jam if not perfectly straight or too old/soft.
User Impressions: Parents love how this bank makes saving an interactive game, with children enjoying the satisfaction of inputting their secret code and watching their money disappear into their secure vault. It’s often praised as a perfect gift that genuinely excites kids about saving.
2. NAFEIV Piggy Bank, Automatic Electronic Piggy Bank for Kids…
The NAFEIV Piggy Bank elevates the saving experience with its cutting-edge electronic features, including both a password and a fingerprint confirmation for access – talk about high-tech! Made from eco-friendly ABS material, it’s safe and tough enough for little hands. Beyond security, it offers a large capacity for both coins and bills, making it an excellent tool for developing strong financial literacy from an early age. The added music play function provides a delightful auditory reward for successful deposits.
Key Features:
- Electronic password protection and fingerprint confirmation for secure access.
- Large capacity: stores 600 coins or 100 banknotes.
- Eco-friendly ABS material for safety and durability.
- Automatic paper money scroll feature.
- Music play function with comfortable volume and voice prompts (can be muted).
Pros:
- Advanced security features make saving feel important and exciting.
- Durable and safe materials suitable for young children.
- Engaging automatic bill feeder.
- Music and voice prompts add a fun, interactive element.
- Promotes good saving habits through play.
Cons:
- Requires 3 AA batteries (not included).
- Forgetting the password requires removing batteries to reset.
User Impressions: Kids are reportedly fascinated by the fingerprint sensor, making them feel like secret agents protecting their treasures. Parents appreciate the robust build and the creative way it encourages children to save consistently, often highlighting it as a go-to birthday or holiday gift.
3. Classic MoonJar Award Winning SAVE SPEND SHARE Educational…
For a more classic yet profoundly educational approach to financial planning, the MoonJar is a standout. This multiple award-winning moneybox features three separate, diamond-shaped tin canisters clearly labeled “Save,” “Spend,” and “Share.” It’s designed specifically for small hands and the core concept introduces children to a balanced approach to money management right from the start. It’s an ideal choice for parents who want to instill comprehensive financial values beyond just saving.
Key Features:
- Multiple award-winning 3-in-1 moneybox: Save, Spend, Share.
- Three diamond-shaped, unbreakable tin canisters.
- Color-coded acrylic lids with convenient money slots for coins and folded bills.
- Easy to separate and play with, held together by a removable acrylic band.
- Perfect for small hands to safely grab and maneuver.
Pros:
- Teaches crucial financial concepts (saving, spending, sharing) in a simple way.
- Durable, unbreakable design ensures longevity.
- Clear, color-coded sections make it easy for kids to organize their money.
- Encourages thoughtful decision-making about money allocation.
- Simple and effective without the need for batteries.
Cons:
- No electronic features or automatic deposit.
- Lids have a specific slot size for bills, which may require folding.
User Impressions: Educational experts and parents consistently praise the MoonJar for its effectiveness in teaching foundational financial habits. Children easily grasp the concepts, and many families incorporate it into their allowance routine, making it a highly recommended tool for early financial literacy.
4. Piggy Bank for Kids – Electronic Money Saving Box w/Code-…
The KiddieVault is more than just a piggy bank; it’s a personal mini-vault that empowers kids with their own secret passcode. This electronic money-saving box makes saving an exciting adventure with its automatic money feeder, flashing lights, and cool sounds that accompany every deposit. It offers a truly immersive “real vault experience” with a turning knob and secure door, ensuring that children are not just saving, but also engaging in imaginative play while developing vital money management skills.
Key Features:
- Create your own secret 4-digit passcode for locking and unlocking.
- Automatic money feeder for bills with accompanying lights and sounds.
- Vibrant lights and fun sounds for every coin or bill deposit.
- Realistic vault design with a turning knob, keypad, and secure door.
- Manufacturer minimum required age 36 months.
Pros:
- Personalized passcode makes kids feel in charge and excited about saving.
- Interactive lights and sounds celebrate savings and keep engagement high.
- Automatic bill deposit feature is engaging and futuristic.
- Encourages pretend play alongside financial learning.
- Great for building lasting saving habits.
Cons:
- Requires 3 AA batteries (not included).
- The “real vault” experience might be a bit loud for some parents.
User Impressions: Kids absolutely adore the feeling of having their own secret vault and the thrill of watching bills get sucked in automatically. Parents often highlight it as a unique gift that keeps children entertained while subtly teaching them the value of saving money.
5. PJDRLLC Piggy Bank, Unbreakable Plastic Money Bank, Coin…
Sometimes, simplicity is key, especially for very young savers. The PJDRLLC Piggy Bank is a classic “My First Piggy Bank” designed with durability and ease of use in mind. Made from non-toxic, thick plastic, this cute money bank is virtually unbreakable, making it perfect for toddlers and preschoolers who might accidentally drop it. Available in over ten vibrant colors, it’s a straightforward and charming way to introduce the basic concept of saving money without any complex features or batteries required.
Key Features:
- “My First Piggy Bank” starter bank for young kids.
- Made from non-toxic, thick, unbreakable plastic material.
- Medium size (approx. 5.9 x 4.7 x 5.1 inches), ideal for small children.
- Built-in plastic knob at the bottom for easy access to money.
- Available in more than ten colors.
Pros:
- Extremely durable and unbreakable, perfect for active young children.
- Safe, non-toxic materials for peace of mind.
- Simple design is easy for even the youngest kids to understand and use.
- No batteries or complex setups required.
- Great for teaching the very first steps of saving pocket money.
Cons:
- No electronic features, automatic deposits, or advanced money management tools.
- Requires manual removal of money via the bottom knob.
User Impressions: This bank is highly praised by parents for its incredible durability – it truly withstands drops and tumbles. Many consider it the perfect entry-level piggy bank for toddlers and young children, often commenting on its cute design and the variety of colors available.
6. Piggy Bank for Kids, Fingerprint Simulation Money Bank Toys…
This multi-functional piggy bank truly steps up the game, offering an upgraded fingerprint password lock alongside a money amount counting function. It’s an engaging electronic bank that makes saving an exciting and interactive experience. Beyond its cool security features, it boasts a large capacity, making it perfect for storing not just money but also other treasured items. This bank helps cultivate good habits of financial management while doubling as a fun, educational toy for kids aged 3-13.
Key Features:
- Upgraded fingerprint password lock for enhanced security.
- Money amount counting function for banknotes.
- Automatically absorbs cash into the slot.
- Music modes for an enhanced saving experience.
- Premium quality, 100% safe ABS plastic and electronic components.
- Large capacity: stores over 600 coins or 100 paper bills.
Pros:
- Advanced fingerprint security adds a cool factor for kids.
- Banknote counting feature helps children track their savings.
- Automatic cash absorption is engaging and fun.
- Durable and safe materials ensure longevity and peace of mind.
- Acts as both a money bank and a secure storage for treasures.
Cons:
- Requires batteries (type not specified, but common for electronic toys).
- Music modes might be a distraction for some.
User Impressions: Kids are thrilled by the fingerprint unlocking and the way it counts their money, feeling very grown-up and responsible. Parents appreciate its robust build and the dual functionality as a secure savings tool and a fun, educational toy. It’s frequently cited as an excellent gift that makes learning about money exciting.
7. Fishboy ATM Piggy Bank for Kids with Power-Off Memory and…
For the ultimate realistic saving experience, the Fishboy ATM Piggy Bank is a fantastic choice. This interactive bank comes with a debit card and a 4-digit PIN code, mimicking a real ATM experience. Its standout feature is the upgraded power-off memory, ensuring that your child’s balance and code aren’t lost when batteries are replaced. The ability to automatically identify coins, scroll banknotes, and even set savings goals makes this one of the most comprehensive and engaging best banks for kids for teaching advanced financial concepts.
Key Features:
- Upgraded power-off memory for saving data during battery replacement.
- Debit card + 4-digit PIN code access for a realistic ATM experience.
- LCD screen with voice prompts for deposits and withdrawals.
- Automatically identifies coins and displays deposited value.
- Automatically scrolls banknotes into the machine.
- Settable savings goal up to 9999.99, tracking progress.
- Modifiable PIN code with a reset option.
Pros:
- Highly realistic ATM simulation with debit card and PIN.
- Power-off memory protects valuable savings data.
- Intelligent coin identification and banknote scrolling for ease of use.
- Goal-setting feature helps teach budgeting and financial planning.
- Excellent for developing a deeper understanding of banking and money.
Cons:
- Requires batteries (not specified, but likely AA).
- Its advanced features might be more suited for slightly older children (6+).
User Impressions: Kids are absolutely captivated by the realistic ATM experience, feeling empowered by their own debit card and PIN. Parents rave about its educational value, particularly the goal-setting and money-tracking features, which make complex financial ideas tangible for children. It’s often highlighted as a top-tier gift for fostering financial independence.
FAQ: All Your Questions About Kids’ Banks Answered
Q1: What is the best age to introduce a piggy bank to my child?
A: You can start as early as 3-4 years old with a simple, unbreakable piggy bank. At this age, it’s about understanding the concept of putting money away. As they grow older (6+), electronic banks with more features can teach more complex ideas like budgeting, saving goals, and security.
Q2: What are the main benefits of giving my child a piggy bank?
A: Piggy banks are fantastic tools for developing financial literacy. They help children learn about saving money, understanding the value of money, distinguishing between wants and needs, setting financial goals, and even the joy of giving (sharing). It’s a hands-on way to teach responsibility and patience.
Q3: Should I choose a simple or an electronic piggy bank?
A: It depends on your child’s age and your goals. A simple, classic piggy bank is great for very young children to grasp the basic idea of saving. Electronic piggy banks, with features like passwords, automatic bill feeders, and counting functions, are excellent for older kids (5-12) as they make saving more interactive, secure, and can introduce more complex financial concepts.
Q4: How can I encourage my child to save money using their bank?
A: Make saving fun! You can:
* Set clear, achievable saving goals (e.g., for a specific toy).
* Offer matching contributions (e.g., for every dollar they save, you add a dollar).
* Let them see their savings grow.
* Discuss how different banks work (Save, Spend, Share).
* Celebrate milestones when they reach a goal.
Q5: What is the “Save, Spend, Share” concept, and why is it important?
A: The “Save, Spend, Share” concept (like with the MoonJar) divides money into three categories. “Save” is for long-term goals or emergencies. “Spend” is for immediate wants. “Share” is for charitable giving or helping others. This framework teaches balanced financial management, emphasizing not just accumulation but also responsible spending and generosity.
Q6: Are electronic piggy banks safe for kids to use?
A: Yes, reputable electronic piggy banks are generally safe. They are made from non-toxic materials and designed with child safety in mind. The electronic components are typically secure, and features like password protection teach children about privacy and security, rather than posing a risk. Always check product reviews and safety certifications if you have concerns.
Q7: How do ATM-style piggy banks help with financial management?
A: ATM-style banks mimic real-world banking experiences. They often include features like debit cards, PIN codes, coin identification, bill scrolling, and balance tracking. These elements provide a hands-on introduction to banking processes, help children visualize their financial progress, and can make learning about deposits, withdrawals, and setting goals more engaging and realistic.