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Children’s account for 0 to 11 year olds

Children’s bank account

Bank account for children aged between 0 and 11

Children’s account for 0 to 11 year olds

  • Keep an eye on your child’s account
  • No overdraft allowed
  • Set payment limits

Money can only be spent once. This is something your child still has to learn. Having his or her own children's bank account is a good first step. At ABN AMRO, such an account for children is called a youth account. This account lets you decide what your child can and cannot do with his or her bank account. This way, you can gradually increase your child’s freedom to make his or her own financial decisions, while you keep an eye on the account.

Here’s how to open a youth account:

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Step 1

Go online and open a free bank account for your child in less than 5 minutes.
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Step 2

Next, sign the Internet Banking agreement for your child, electronically or on paper.
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Step 3

Within 5 working days, your child’s bank account will be accessible. If your child is already a customer, the account will be activated immediately.

Your account configuration options

You decide what your child can and cannot do with his or her bank account. This lets you gradually increase your child’s autonomy, always based on the permissions you have set. Simply configure your child’s account using your debit card in your Internet Banking overview.

What you do What your child is allowed to do
Enable or disable payments
 
 
Receive payment alerts
 
 
Enable or disable access to Internet Banking
 
 
Set the card limit
 
 
Enable or disable contactless payments
 
 
Internet Banking
 
 
Check the account balance
 
 
Transfer money
 
 
Withdraw cash and make card payments
 
 
Make contactless payments
 
 

More information and conditions

Included in the children’s bank account

A children’s bank account is intended for children aged between 0 and 11. The account includes a bank account as standard. You also get free electronic statements. Paper statements cost €0.60 a month. 

You can request a free youth debit card to go with the bank account. If you prefer not to have your child use the debit card, you can also open the bank account without a debit card.

Standard card limit

The standard card limit for a children’s bank account is €300, whereby your child can make cash withdrawals up to €150 and card payments up to €150. If you feel this is too much, simply change the card limit online.
Contactless payments

The youth debit card also lets your child make contactless payments. The PIN will not have to be entered for payments of up to €50 and up to €100 in total. For contactless payments of over €100, your child will have to enter the PIN. If you do not want your child to be able to make contactless payments, you can disable this feature.
Interest rate

Each quarter, we pay interest at a rate of 0.00% on the amount held in the children’s bank account during that period. This rate is not fixed. We reserve the right to change it at any time. Want to find out more? Read on to find out how quarterly interest works.
Deposit insurance scheme

The children’s bank account is covered by the deposit insurance scheme, meaning that your child’s money is protected if we are no longer able to meet our obligations. For more information, please visit abnamro.nl/garantiestelsel.
Terms and conditions

Check the terms and conditions for a complete list of all the specifics of a children’s bank account. 

You can also take a look at the Consumer Payment Services Information Sheet (Informatieblad Betaaldiensten Particulieren) for more information on things like security, limits and fees.

Consumer Payment Services Information Sheet (per 1 Oct 2020)

More information and conditions

Included in the children’s bank account

A children’s bank account is intended for children aged between 0 and 11. The account includes a bank account as standard. You also get free electronic statements. Paper statements cost €0.60 a month. 

You can request a free youth debit card to go with the bank account. If you prefer not to have your child use the debit card, you can also open the bank account without a debit card.

Standard card limit

The standard card limit for a children’s bank account is €300, whereby your child can make cash withdrawals up to €150 and card payments up to €150. If you feel this is too much, simply change the card limit online.

Contactless payments

The youth debit card also lets your child make contactless payments. The PIN will not have to be entered for payments of up to €50 and up to €100 in total. For contactless payments of over €100, your child will have to enter the PIN. If you do not want your child to be able to make contactless payments, you can disable this feature.

Interest rate

Each quarter, we pay interest at a rate of 0.00% on the amount held in the children’s bank account during that period. This rate is not fixed. We reserve the right to change it at any time. Want to find out more? Read on to find out how quarterly interest works.

Deposit insurance scheme

The children’s bank account is covered by the deposit insurance scheme, meaning that your child’s money is protected if we are no longer able to meet our obligations. For more information, please visit abnamro.nl/garantiestelsel.

Terms and conditions

Check the terms and conditions for a complete list of all the specifics of a children’s bank account. 

You can also take a look at the Consumer Payment Services Information Sheet (Informatieblad Betaaldiensten Particulieren) for more information on things like security, limits and fees.

Consumer Payment Services Information Sheet (per 1 Oct 2020)

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Managing account settings

You decide what your child can and cannot do with his or her bank account. This way, you can gradually increase your child’s freedom to make his or her own financial decisions. That is a secure feeling.

My child is aged between 12 and 17

If your child is aged between 12 and 17, he or she will get the free young person’s account. This account also lets you, the parent, decide what your child can and cannot do with the account.