Good call dad!
You children are well on their way to financial fitness.
Setting up that brokerage account is the smartest thing ANYONE could do...it offers Money Market Interst rates and unties you from the banks which are nickle and diming their customers to death.
Teach your kids to keep a majority of their money there, and a small reserve in a checking account at a local bank. Good financial decisions will become their second nature.
Scott
P.S. I Work for an employer who requires that emploees have their paychecks paid via Direct Deposit...You'd be shocked how many new hires we encounter don't even have a checking account, let alone a brokerage account.
P.S.S. Now, please tell me these brokerage accounts are with a large no-load fund family...