We offer kids bank accounts. Teh account pays 4.5% and the only requirement to attend one of our kids bank schools. The account is opened in just the kids name only and the statement is delivered to the kid at teh school. One of our officers would like to make the statement as estatments. Is there any compliance issues with this? I am against it as it doesnt teach the kids anything but they only wnat my opinion for compliance. Can someone point me where I can find soemthing to help me out?

Does the kid have access to a computer on which they can do their banking? (i.e. I wouldn't want kids to HAVE to use the school computer. Think summer, spring break, Christmas break.)

Will they have an email to use?

Can they perform demonstrable consent?

And if they don't want e-statements, what other options will you give them?

For my $.02, not a workable idea with youngsters.

Also, depending on the age of the kids, you may have to comply with COPPA provisions.

There may be a question about whether a minor can provide consent for ESIGN delivery in any event. But I am with Andy. This won't fly well.