Youth Advantage Savings Account

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Establish a foundation of financial literacy — and confidence.

Teach children the importance of money management skills with a SunTrust Youth Advantage Savings account to get them started early on their journey towards financial confidence.

Youth Advantage Savings -
Minor By

A Minor By Youth Advantage Savings account is a traditional kids’ savings account that’s ideal for saving allowance or money from their first job to instill a saving habit early, demonstrate the power of compounding interest over time, and promote financial independence while they’re still young.

Youth Advantage Savings -

Funds and assets in a UTMA (Uniform Transfer to Minors Act) Youth Advantage Savings account can only be used for the benefit of the minor named on the account, which makes this option attractive for parents, grandparents, and other adults who want to make an irrevocable gift to a child.1

Compare and choose which Youth Advantage Savings option is right for you:

For more information, please see the Youth Advantage Savings Account Overview Guide.

Youth Advantage Savings Account Overview GuideLink opens a new window

View the details on why a Youth Advantage Savings account could be right for you.

Helpful Resources


1 This titling option is an Uniform Transfer to Minors Act (UTMA) savings account. You agree that this account will be governed by the Uniform Transfer/Gifts to Minors Act of the state where the account is opened.  All funds deposited in the account irrevocably become the property of the minor, but are to be managed for the minor’s benefit by the custodian until the minor reaches the age of 18 or 21, depending on state law, at which time the custodian is responsible for distributing the funds to the minor. Only one custodian and one minor are allowed per account. The law imposes certain fiduciary and record keeping obligations on the account custodian and requires that interest earnings are reported to the IRS under the minor’s Social Security number. If uncertain whether an UTMA account is the right account, seek professional legal, tax, investment and/or estate planning advice. The offering of UTMA accounts should not be construed in any way as the providing of legal or tax advice by SunTrust. The Bank reserves the right to limit the Account to one Custodian. For both Minor By and UTMA the parent or guardian must be present to open the account in order to attest to the minor W9 certification.

2 A fee of $6 is assessed, regardless of balance, for each excessive withdrawal if more than six withdrawal transactions are paid during the monthly statement cycle or a calendar month for quarterly statements, with a maximum of six. Applicable fees are assessed at the time of withdrawal. Please see “Fee Schedule” for further details. The excessive withdrawal fee applies, regardless of the balance, to transactions such as debit card transactions, checks, electronic transactions (ACH), automatic payments, Bill Payments, Overdraft Protection transfers, wire transfers, and deposit funds transfers completed through Online or Mobile Banking.

For Advantage Money Market Savings accounts, an excessive withdrawal fee of $15 is assessed regardless of balance, for each excessive withdrawal if more than six pre-authorized, telephone funds transfers or third party transactions are paid during the statement cycle with a maximum of 6. Applicable fees assessed at the time of the withdrawal. Please see Fee Schedule at for further details.

Account holders must enroll into IDnotify via SunTrust channels to receive this service at no cost. Service will be cancelled for clients who no longer have any active accounts with SunTrust. Clients with Business products or services only do not qualify for IDnotify.

The account must maintain a minimum balance of $0.01 to avoid account closure.

5 The account does not have a monthly maintenance fee until the minor reaches the age of 18. Once the minor is 18, the account would need to maintain a Minimum Daily Collected Balance of $300 in the account to avoid the monthly maintenance fee. The minimum daily collected balance is the current daily ledger balance less the amount of any checks deposited that are in the process of being collected. After the minor turns 18 a monthly maintenance fee of $5 will be charged to the account on a monthly basis if the minimum balances are not maintained.

Ready to get started, or want to learn more?

Get hands-on help by visiting your local SunTrust branch , or call us at 1-800-SUNTRUST to learn more about opening a Youth Advantage Savings account that’s best for your needs.