TRCB Kidz Page
When you put money in a bank you put it in a place called a savings account or checking account. These accounts have your name, or your parent’s name on it so the bank knows that the money in that account is yours and no one can get it except you.
You can add more money to the account from the money you get from your allowance, gifts and chores. You can also take it out when you need it, but you should ask your parents first!
WHAT IS THE BEST REASON TO PUT MONEY IN A BANK ?
Your money in a savings account earns interest. Interest is money that the bank gives you to thank you for keeping your money there.
It is a good idea to keep the money in your account for a long time because the bank will keep giving you money just for keeping it there. So the longer you keep your money in a bank, the more money you get!