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Children’s bank account

Bank account for children

Children's bank account

Open now free of charge
The children’s bank account is called the Young Person’s Growth Account and costs €0 per month
Open now free of charge
The children’s bank account is called the Young Person’s Growth Account and costs €0 per month
  • Keep an eye on your child’s account
  • No overdraft allowed
  • Set payment limits

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.

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

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.

Step 2

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

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.

Open bank account

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

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.

Step 2

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

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.

Open bank account

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 pushnotifications
 
 
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 18. The account includes a bank account as standard. Digital statements are free of charge. Only cash deposits and withdrawals may in some cases be subject to a fee. View the current fees.  

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.

If you also want to save for your child's future, select the KidsFuture Savings Account during the application process. That way, your child will have a nice buffer later on.

Open now free of charge Request a youth 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.

Change the card limit
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.

Disable contactless payments
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. Only cash deposits and withdrawals may in some cases be subject to a fee. View the current fees.

Interest rate

  • The current interest rate 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.
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
Standard card limit
Contactless payments
Fees
Interest rate
Deposit insurance scheme
Terms 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 18. The account includes a bank account as standard. Digital statements are free of charge. Only cash deposits and withdrawals may in some cases be subject to a fee. View the current fees.  

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.

If you also want to save for your child's future, select the KidsFuture Savings Account during the application process. That way, your child will have a nice buffer later on.

Open now free of charge Request a youth 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.

Change the card limit

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.

Disable contactless payments

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. Only cash deposits and withdrawals may in some cases be subject to a fee. View the current fees.

Interest rate

  • The current interest rate 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.

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

What is a 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.

From what age can I open an account for my child?

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

How do I apply for a children’s account?

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.

What can my child do with a children’s account?

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.

How can I add my child’s account in my overview?

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.

Also interesting

How much will your child cost?

Although 'How much does a child cost?' seems like a strange question, it’s a good idea to take such costs into account when planning your finances. That’s why we’ve put together an overview of the main costs. 

Read more
Father and daughter looking at her debit card

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.

Configure your child’s account

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.

Go to the page for 12- to 17-year-olds

Other useful info