Managing settings on Young Person’s Growth Account
Spending and saving under your supervision
Children’s financial needs are changing rapidly. Nowadays, they pay for their school lunch with their debit card, make online purchases and check their balance in the ABN AMRO app. It’s easy to enable or disable these options in your own ABN AMRO app and on Internet Banking. You can also receive notifications about your child’s current account activity if you’d like.
Which settings can you configure?
Displaying the Young Person’s Growth Account
You can decide for your child whether or not to display the youth account on Internet Banking or in the ABN AMRO app.
Would you like to make your child's account visible in your own account overview within Internet Banking and the ABN AMRO app?
Online payments
You can enable or disable online payments from the Young Person’s Growth Account or set a maximum amount.
Approving payments
You can set whether or not payments need your approval, so you always stay in control of your child’s spending.
Banking with the ABN AMRO app
You decide whether to allow your child to use the ABN AMRO app. This app can be a handy tool to make it easier for your child to keep track of his or her Young Person’s Growth Account. Whether or not your child is allowed to transfer money is also up to you.
iDEAL payments
You can enable or disable iDEAL payments from the Young Person’s Growth Account or set a maximum amount.
Debit card limit
You can set a limit for your child’s debit card. The standard cash withdrawal limit is €150, and the limit for debit card payments in shops is also set to €150. If you think this total limit of €300 is too high, you can easily change the debit card limit on Internet Banking.
Push notifications
If you would like to be notified when your child has made a payment or when there has been activity on the Young Person’s Growth Account, simply enable push notifications to stay up to date.
Access to your child’s account
If your partner has opened an account for your child, you are entitled to access that account as your child’s legal representative. This allows you to keep an eye on your child’s banking activity. You decide together with your child what they can and cannot do with their account. You can request access on Internet Banking.
Please note: if the person who opened the account did not specify you as a legal representative who should also have access to this account, you need to make an appointment together. Please remember to take proof of your ID with you.
If the person who opened the account is unable or unwilling to visit the branch with you, you can visit the branch alone, as the legal representative. A document from the custody register must be submitted in Dutch or English. Please make an appointment to do so.
Why you should set the options on the Young Person’s Growth Account
Changing is easy
It only takes 2 minutes to make any changes to the Young Person’s Growth Account.
Keep an eye on the account
As a parent, you can easily keep an eye on your child’s account, giving you peace of mind.
Secure banking
No overdraft allowed, so no surprises.
How to change settings for the account
On Internet Banking
- Go to Manage child’s authorisations.
- Select the account of your child.
- Change the settings for your child’s account.
In the ABN AMRO app
- Select your child’s account.
- Go to 'Profile'.
- Click ‘Electronic banking for children’ (this will automatically open a browser window).
- You can then change the settings for your child's account.
Don’t have Internet Banking access?
If you don’t have Internet Banking access, you can use the Young Person’s Growth Account authorisations form to change the account settings.