<p>Thanks to all for sharing your thoughts. Based on the ease of transferring money, I looked at Ally Bank where we already have a savings account. I can open a joint checking account with my insufferable offspring (IO) and get immediate transfers. The account has no minimum balance, provides rebates for ATM fees, and even earns a tiny bit of interest.</p>
<p>One possible drawback could be out-of-state checks. Do kids use checks anymore? Any experience here?</p>