BNY Will Match Government’s Initial $1,000 Deposit to ‘Trump Accounts’ for Employees’ Kids

The accounts were set up under the GOP-backed One Big Beautiful Bill Act. BNY is among the first financial institutions to publicly back the effort.

President Donald Trump speaks alongside Treasury Secretary Scott Bessent at the White House on March 7, 2025. Anna Moneymaker/Getty Images

The Bank of New York Mellon Corporation (BNY) announced Thursday that employees’ children would receive a matching donation of $1,000 when the government sets up “Trump Accounts” under the One Big Beautiful Bill Act as an investment for infants.

According to a press release about its plans, BNY’s “match of the pilot contribution will provide an additional $1,000 per eligible child once the account is opened and verified, helping families start saving from Day One.”