We believe that financial literacy is a cornerstone of success. That’s why we created Embark, a checking account designed to equip young people with the tools they need to thrive.
Financial Confidence Starts Here
Embark Teens: Financial Skills for the Future
Ready to teach your teen financial independence? Embark Teens is designed to empower your teen with the tools they need to manage their money confidently. From budgeting and saving for the future to making everyday purchases, our account helps them build a strong financial foundation.
Embark Kids: Learn, Earn, and Grow
Teach your child the value of money in a fun and engaging way. With Embark Kids, you’re giving your child a head start on financial responsibility. Our account is designed to make learning about money enjoyable, while providing parents with the peace of mind that comes with complete control.
Available for ages 13-17
Features
No Monthly Service Charge
We want it to be easy to begin the financial journey. Embark has no monthly service charge or minimum balance to worry about.
Access to Online Banking Tools
Embark users have limited access to online banking tools like mobile deposit, Card Control, and budgeting, providing teens with gradual independence and essential financial skills.
Financial Literacy
Boost financial knowledge through our engaging financial literacy course. As a reward for completing the course, Richwood Bank will deposit $25 into the Embark account.
Carrier message and data rates may apply when utilizing mobile banking and alerts.
Available for ages 7-17
Features
Embark Kids App
The app helps parents teach children about money by allowing them to assign chores, set savings goals, and track financial tasks, fostering essential money management skills.
Parent View
Kid View
In addition, Embark Kids offers:
Guardrails for Growth
With built-in guardrails to prevent overspending, Embark gives parents peace of mind while teens learn to manage their money responsibly.
Financial Literacy
Your child can access over 30 engaging videos through the Embark Kids app, covering financial literacy from budgeting basics to credit scores, investments, and online security, ensuring a comprehensive learning experience.
There is a $1.95 monthly service charge for the Embark Kids account. Carrier message and data rates may apply when utilizing mobile banking and alerts.
Interested in opening an Embark account? Before you head into a branch, there are some key things you'll want to bring to open the account.
The Child
Your child must be present to open an Embark account. This allows them to actively participate in the process, understand the terms and conditions, and sign the necessary paperwork. It also means they’ll get to pick out the design for their debit card!
Identification
Don’t forget the ID! We need to verify your child’s identity to ensure the safety and security of their account. If you’re not already a Richwood customer, we’ll also need to collect your identification information.
Mobile Devices
Don’t forget your tech! Bring the mobile devices you’ll be using for online banking. We’ll show you how to use our online tools to make sure you get the most out of your Embark account.
Streamline the Embark Account Process
Start the Account Opening Process Online
Start the process securely online by providing some details in advance, saving time when you visit the branch. You can also upload a custom image for your child’s debit card, ensuring it's ready when you arrive. By handling these steps beforehand, your branch visit can focus on the excitement of opening the account and taking the time to learn about all the tools available for financial success.
Identification Requirements
At Richwood Bank, we take the safety and security of our customers seriously. That’s why we follow strict guidelines to verify the identity of everyone who opens an account with us. This process helps us protect you and your child from fraud and ensures that we comply with federal regulations.
If the minor does not already have an account with Richwood Bank, we’ll need to collect the following information before we can open the account:
- Government Issued Photo ID
- State of Ohio ID card with photo (not expired)
- State of Ohio Driver’s License (not expired)
- Passport with photo
If the minor does not have government issued photo identification, two of the following methods of ID may be used:
- School ID card with photo and signature
- Social Security Card
- Birth Certificate
- Pay Stub
- Employment ID card with photo and signature
Why We Need This Information
Collecting this information is essential to ensure that we are meeting legal requirements and safeguarding your child’s financial future. Rest assured, the information you provide is kept secure and confidential, and it will only be used for the purpose of account verification. We appreciate your understanding and cooperation in helping us maintain a safe and secure banking environment for all our customers.
If you have any questions or need assistance with the account opening process, please don’t hesitate to contact us. We’re here to help!
Account Alerts
Stay Informed and Secure
Low balance, debit card purchases, password changes – you have lots of options for account alerts that allow you to stay on top of spending, track deposits or transfers, and prevent fraud.
Card Control
A must-have for anyone with a debit card
Prevent fraud, limit transaction types, and receive real-time alerts whenever your card is used. Stay in control of your finances and enjoy peace of mind with this powerful feature.
