Questions About Viva Kids Savings Account From Credit Suisse

Is the Credit Suisse Viva Kids savings account a good choice for people who want to save money for their kids? What are the costs and interest rates? What terms and conditions are attached?

Hi there,

The Viva Kids savings account from Credit Suisse currently has very favorable terms and conditions. Up until the account holder's twelfth birthday, the account pays 5% interest on the first 1000 francs of savings, 1% interest on the portion of savings between 1000.01 francs and 25,000 francs, and 0.01% on savings in excess 25,000 francs.

After the child turns 12, the account converts a Viva Young savings account (1% interest on 25,000 francs of savings, 0.01% interest on savings in excess of 25,000 francs).

No fee is charged for making cash deposits at the till. You can withdraw up to 50,000 francs per year from the account without notice. Withdrawals in excess of 50,000 francs require 3-months notice.

The Viva Kids savings account has no annual account fee and is available to children whose parents hold Credit Suisse private accounts. The account can be managed by parents through Credit Suisse online banking services.

This account comes as part of the Viva Kids banking package.

Best regards from Moneyguru

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I found the interest rates of these accounts so attractive that I switched my checking account to Credit Suisse just so I could open these accounts for my kids. I have several kids, so although I pay more for my account, as a family we actually make a profit. I opened a regular private account (not a bundle) and simply asked to forego the Digipigi's (these would have cost 100 francs each with my regular account, and my kids don't need more digital playthings).

The staff at Credit Suisse is competent, and I appreciate the fact that there are branch offices all over Switzerland. My kids enjoy going to the till to deposit and withdraw and to get foreign currency before we travel.

My biggest complaint would be the online banking. When I opened the accounts, I was told that the kids accounts would all appear in my online banking from the start. Unfortunately, online one of the accounts shows up in my online banking. I have called technical support and inquired and filled out forms at the branch I use, but still no sign of the kids accounts in online banking so far. But then, my main interest in these accounts was that my kids can earn decent interest on their savings. Working online banking would be a plus though.