Your child turns 18

No, you can no longer view your child’s account as you could with the Young Person’s Growth Account. Your child is now 18 and financially responsible for themselves. As a parent, you are still legally required to provide financial support until your child turns 21.

Would you still like insight into your child’s account? Ask your child to give you authorisation. This can be arranged in just a few steps.

Does your child not yet have a debit card? You can request one via the ABN AMRO app in just a few steps. From their 18th birthday onwards, your child can request a debit card themselves through the ABN AMRO app. Before their 18th birthday, you as the parent can request a debit card on their behalf.

Does your child have a KinderToekomst savings account?

When your child turns 18, we will close the account in the following January. We will transfer the savings, including the basic and bonus interest, to another ABN AMRO savings account in your child’s name. If your child does not have another ABN AMRO savings account, we will open one for them. Around that time, we will send you a letter with more information.

Does your child have KinderBonus Savings?

We calculate the final bonus interest on the balance on the last day of the month in which your child turns 18.

In the first week of the month after your child’s 18th birthday, we will close the KinderBonus Savings account. During this process, the balance will be temporarily unavailable. We will transfer the savings, including bonus interest, within 3 working days to another ABN AMRO savings account in your child’s name. If your child does not have another ABN AMRO savings account, we will open one for them.

Example: if your child turns 18 on 9 January, we will transfer the money in the first week of February.
Note: your child will only receive this final bonus interest if the savings remain in the account until the end of the month in which they turn 18.

No. For the KinderToekomst savings account and/or KinderBonus Savings, the money saved is considered a gift to your child. You are the account holder only until your child turns 18. From the moment your child reaches 18, they may independently manage the savings on these and any other accounts in their own name. Because your child becomes an adult and can make their own decisions, we will automatically remove your access to their accounts.

Would you still like insight into their account? Ask your child to give you authorisation. This can be arranged in just a few steps.

Keep gift tax in mind

You may have saved a substantial amount for your child. From their 18th birthday, your child can freely use these funds. Are you concerned about this and would prefer your child not to have access to the money? If you transfer the savings back to your own (savings) account, it is important to know that the Dutch Tax Administration considers this a gift from your child to you. Depending on your specific situation and the amount involved, you may need to pay gift tax.

If you want to know whether this applies to your situation, check the gift tax exemption for this year. The Tax Administration or a civil-law notary can also give you more information.

Yes, once your child turns 18, they must have their own health insurance. Also remember to apply for healthcare benefit, which can help reduce the cost.

Yes, from the moment your child turns 18, child benefit and child-related budget stop. As a result, your disposable income will decrease. Other benefits you receive may also change — for example, if your child starts working and continues living at home.
With the Personal Budget Advice from Nibud, you can quickly gain insight into your future income and expenses.

If your child cannot manage their finances independently, or only with help, there are several ways to manage their payment account together. Your child can authorise you, or you can choose to apply for financial guardianship over your son or daughter. Read more about the available options.