Can other family members such as grandparents or godparents also initiate the opening of a children's account?

Yes, third parties can initiate the opening of a children's account and have it finalized by the legal guardian. Here's how it works:

• As a third party, you initiate the account opening for a child.
• Specify how much money you would like to gift.
• The legal guardian completes the account opening process and sends you the account details with a click of the mouse.

Once the account has been opened and the parents have made an initial deposit, you as a third party can deposit money into the child's account.