1/8/2024 0 Comments Keycard bank![]() This means that every year, if you don’t withdraw your balance, you will be earning more interest because the balance of the account is gaining interest and getting bigger.ĭebit card: A card that is linked to a transaction account and allows the cardholder to make purchases at stores and online, and make cash withdrawals from an ATM.ĭirect debit: When a transaction is automatically removed from an account and received into a different person’s account. not making any withdrawals in that month.Ĭompound interest: Compound interest is when interest is calculated on the entire balance of your account, not just the initial amount you deposited when you opened the account. Your bank or financial institution may use different terms, and you should read your product disclosure statement (PDS) carefully to understand your account.Īccount-keeping fees: An ongoing fee some providers charge to cover costs of creating and maintaining the account.īonus savings account: Accounts that give you bonus interest if you meet specific criteria, for example if you deposit a certain amount of money into the account each month and you meet the conditions, e.g. ![]() Please note that these are a general explanation of the meaning of terms used in relation to junior and youth banking accounts. How Canstar compares youth banking providers Account personalisation options, so that you can set up sub-accounts for your savings goals.Tools and resources specifically for parents, such as parental controls, notifications and alerts.Online learning tools for children and parents.Account features and tools that encourage saving behaviour.Any limits on the number of free transactions allowed.Account-keeping fees as well as fees for other services such as ATM withdrawals.The interest rate (watch out for high introductory rates that may revert to lower rates after a time).There are a several features you may want to consider when comparing youth banking products depending on your situation. Once you turn 13 years old, you may be able to operate your own bank account without needing your parent to open it for you, but some providers may still offer parents the ability to control certain aspects of their children’s banking, such as spending and transfers. Youth banking accounts typically come in slightly different forms depending on the age group: These can come in the form of a savings account or a transaction account. The sheriff’s office also said a special prosecutor has been added to the case and it will be up to them to prosecute a potential theft case based on the investigation by state police.A youth banking account is a bank account designed for young people up to a certain age. The sheriff’s office said the goal of the investigation is to find the perpetrator and charge them. After the new custodian was hired in July of this year, the sheriff’s office conducted a third audit and found no other items unaccounted for. It said the evidence room has a new evidence custodian. The sheriff’s office has implemented new security measures in wake of the theft. The cash was taken from more than one case, according to the sheriff’s office. The sheriff’s office contacted state police the next day requesting an investigator. The sheriff’s office said a second audit was concluded roughly one month later and it confirmed the cash was missing. 1, 2021, an audit of the evidence room was completed and it determined approximately $25,000 was missing. Surveillance cameras are also used inside and outside the evidence room. The cash, which was seized in open drug investigations, had three levels of security: the main door, a locked secondary door and a locked container, the sheriff’s office said. Since discovering this, we have done everything we can to find the person responsible and see them prosecuted.” It is extremely disappointing it happened here. “Theft unfortunately can happen anywhere, businesses, banks, churches, charity organizations, schools, doctor’s offices and police and governmental agencies,” Speck said in a news release. Sheriff Greg Speck does not have access to the evidence room, according to the sheriff’s office. Four people had access to the cash in the evidence room, which is protected by a numerical key punch lock and a special key card, according to the sheriff’s office. The theft took place in the evidence room of the sheriff’s office. Kentucky State Police are investigating a $25,000 theft from the Pulaski County Sheriff’s Office, the sheriff’s office announced Tuesday.
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