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Young person’s account for 12 to 17 year olds

Young Person’s Bank Account

Bank account for children aged between 12 and 17

Young person’s account for 12 to 17 year olds

  • Decide what your child can and cannot do
  • Receive payment alerts
  • No overdraft allowed

With your child now at secondary school, he or she will need to use money more often. Card payments in the school canteen, spending pocket money, and getting paid for a paper round - having a bank account makes it all so much easier. At ABN AMRO, such a bank account for young people is called a Young Person’s Bank Account. This account lets you give your child the freedom to spend his or her money, while you keep an eye on the bank account to make sure everything is in order.

Here’s how to open a Young Person’s Bank Account:

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Step 1

Go online to open the free bank account for your child. It takes less than 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.
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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 Young Person’s Bank Account:

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Step 1

Go online to open the free bank account for your child. It takes less than 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.
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

What your child can and cannot do with his or her bank account is entirely up to you. This lets you gradually increase your child’s autonomy, always based on the permissions you have set. Simply configure your child’s account on your Internet Banking overview page.

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

More information and conditions

Included in the Young Person’s Bank Account

A Young Person’s Bank Account is intended for children aged between 12 and 17. The account includes a bank account as standard. Digital statements are free of charge. 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 open the bank account without a debit card.

Standard card limit

The standard card limit for a Young Person’s Bank Account is €300, of which your child can spend €150 in card payments at shops and withdraw €150 in cash. If you feel this is too much, simply change the card limit online.
Contactless payments

The young person's debit card also lets your child make contactless payments, without entering his or her PIN. The maximum amount for contactless payments is €50 per payment and €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.
Interest rate

  • Please note: As of 1 January 2022, we will be lowering the threshold above which you will pay negative interest. More information can be found on abnamro.nl/changeininterest
  • If the total balance on your current or savings account is in excess of € 2,500,000, you will need to pay negative interest. Read more about negative interest. Please note: as of 1 January 2021, we will be lowering the limit above which you will pay negative interest. Read more about this change in 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 you would like to receive an email when the interest rate changes, sign up for our  newsletter .
After your child turns 18

When your son or daughter turns 18, the Young Person’s Bank Account will automatically be converted to a free Student Package. You do not have to do anything. The bank account number will stay the same. Because your child will then be an adult and can make his or her own decisions, we will automatically block your access to the account.
Deposit insurance scheme

The Young Person’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 Young Person’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.

More information and conditions

Included in the Young Person’s Bank Account

A Young Person’s Bank Account is intended for children aged between 12 and 17. The account includes a bank account as standard. Digital statements are free of charge. 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 open the bank account without a debit card.

Standard card limit

The standard card limit for a Young Person’s Bank Account is €300, of which your child can spend €150 in card payments at shops and withdraw €150 in cash. If you feel this is too much, simply change the card limit online.

Contactless payments

The young person's debit card also lets your child make contactless payments, without entering his or her PIN. The maximum amount for contactless payments is €50 per payment and €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.

Interest rate

  • Please note: As of 1 January 2022, we will be lowering the threshold above which you will pay negative interest. More information can be found on abnamro.nl/changeininterest
  • If the total balance on your current or savings account is in excess of € 2,500,000, you will need to pay negative interest. Read more about negative interest. Please note: as of 1 January 2021, we will be lowering the limit above which you will pay negative interest. Read more about this change in 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 you would like to receive an email when the interest rate changes, sign up for our  newsletter .

After your child turns 18

When your son or daughter turns 18, the Young Person’s Bank Account will automatically be converted to a free Student Package. You do not have to do anything. The bank account number will stay the same. Because your child will then be an adult and can make his or her own decisions, we will automatically block your access to the account.

Deposit insurance scheme

The Young Person’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 Young Person’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.

Also interesting

Student Package

When your son or daughter turns 18, their account will automatically be converted to a free Student Package.

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 0 and 11

If your child is aged under 12, he or she will get the free children’s account. This account also lets you, the parent, decide what your child can and can’t do with the account.