Kinderrekening

Children’s bank account

Bank account for children

  • Keep an eye on your child’s account
  • No overdraft allowed
  • Set payment limits
  • Now with €15 pocket money

Money can only be spent once. This is something your child still has to learn. Having his or her own bank account is a good first step. At ABN AMRO, such an account for children is called a Young Person's Growth 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.

ABN AMRO

A fun welcome package with an account for your child

Open a Youth Person's Growth Account online for your child before 6 December 2022. Then your child will receive a fun package for a movie night at home. With the Pathé Thuis voucher your son or daughter can choose a nice film. We provide popcorn, crisps and sweets. Ensuring he or she can make a real party out of opening their new Young Person's Growth Account.

Here’s how to open a children's bank account:

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Step 1

Go online to open the free bank account for your child. Applying takes less then 5 minutes. Please have your child's Citizen Service Number (BSN) ready.

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Step 2

Next, sign the Internet Banking agreement for your child, digitally or on paper. Check the explanation about the application.

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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.

Here’s how to open a children's bank account:

icoon

Step 1

Go online to open the free bank account for your child. Applying takes less then 5 minutes. Please have your child's Citizen Service Number (BSN) ready.

icoon

Step 2

Next, sign the Internet Banking agreement for your child, digitally or on paper. Check the explanation about the application.

pr-time-calendar

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
 
 
Internet Banking
 
 
Check the account balance
 
 
Transfer money
 
 
Withdraw cash and make card payments
 
 
Make contactless payments
 
 

More information and conditions

This is included in a children’s account

An ABN AMRO children’s account is called a Young Person’s Growth Account and is for children aged 0 to 17. 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 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 up to €50 per payment and up to €100 in total. For contactless payments 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.

Fees

The Young Person’s Growth Account is a free children’s account. There are no opening fees, no monthly fees and the debit card is also sent to you free of charge.

Interest rate

  • The current interest rate for Direct Savings is  0.00% . Any interest due will be credited to your account on 31 March, 30 June, 30 September and 31 December. The interest rate is not fixed and can be changed at any moment. Read on to find out how quarterly interest works.
  • If the total balance on your current or savings account is in excess of € 100,000 you will need to pay negative interest. Read more about negative interest.
Deposit insurance scheme

The Young Person’s Growth 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 Young Person’s Growth 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.

More information and conditions

This is included in a children’s account

An ABN AMRO children’s account is called a Young Person’s Growth Account and is for children aged 0 to 17. 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 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 up to €50 per payment and up to €100 in total. For contactless payments 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.

Fees

The Young Person’s Growth Account is a free children’s account. There are no opening fees, no monthly fees and the debit card is also sent to you free of charge.

Interest rate

  • The current interest rate for Direct Savings is  0.00% . Any interest due will be credited to your account on 31 March, 30 June, 30 September and 31 December. The interest rate is not fixed and can be changed at any moment. Read on to find out how quarterly interest works.
  • If the total balance on your current or savings account is in excess of € 100,000 you will need to pay negative interest. Read more about negative interest.

Deposit insurance scheme

The Young Person’s Growth 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 Young Person’s Growth 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.

FAQs about the children’s account

A children’s account, or Young Person’s Growth Account, is a current account for children aged 0 to 17. As a parent, you can monitor the transactions in your child’s account and switch options on or off as you see fit. For example, you can set a maximum amount for online payments, switch iDEAL payments on or off and set a limit for your child’s debit card.

ABN AMRO’s children’s account (Young Person’s Growth Account) is available for children aged 0 to 17.

To apply for a children’s account you need an ABN AMRO current account. The children’s account will be linked to this account number.

You decide what your child can and cannot do with the account. You stay in control. You can also monitor exactly how your child uses the account. In addition, any changes must always be approved by you first.

Your child’s account number will be added in the ABN AMRO app or Internet Banking within 5 working days after you applied for the account. The account will not be immediately visible in your overview. You can arrange this yourself. Find out here how to add the account.

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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

Is your child 12 to 17 years old? Please see the page with information on the account for your child’s age group. In this account, too, you as a parent decide what your child can and cannot do.