How do I open an account with a BEM clause?
You may need to open an account with a BEM clause for your child if they receive damages, for example, or inherit money while they are still underage.
What is an account with a BEM clause?
BEM stands for ‘Belegging Erfenis en andere gelden Minderjarigen’ (investment account held on trust for a minor). An account with a BEM clause is in your child’s name, but money can only be withdrawn with permission from the sub-district court.
Your child can start managing the account themselves when they turn 18. The clause can remain in place for longer in special cases, if this has been officially laid down.
Here’s how to open an ABN AMRO savings account with a BEM clause
ABN AMRO can only place a BEM clause on a savings account. This is what you need to open a savings account with a BEM clause:
- A ruling from the sub-district court or a letter from the insurance company making a BEM clause compulsory.
- You must be the child’s legal guardian and an ABN AMRO client. You must also have a current account yourself and access to Internet Banking.
- The child must have an ABN AMRO Young Person’s Growth Account with Internet Banking. If your child does not yet have a Young Person’s Growth Account, it’s simple to open one.
Request BEM clause
If you’re ready to request the BEM clause, you can do it quite simply from home. Our advisers are here to help you through Video Banking.
You can still make an appointment to speak to an adviser, even after your child has turned 18. If you have any other questions, please get in touch.