Selecting a language will automatically trigger the translation of the page content.

Can a minor have a bank account or a savings book?

Verified 23 September 2020 - Directorate for Legal and Administrative Information (Prime Minister)

Yes, a minor may have a bank account or a savings book. However, its use is limited and progresses with its age.

From the moment your child is born, you can request the opening, in his name, of a bank account and booklet A..

This opening can be done without the child's consent. He will not be able to use the account or the booklet until the age of 12.

In all cases, you are responsible for the funds and movements in your child's accounts.

You can use the money deposited in your child's account or booklet yourself. The use of these funds is limited to expenditures that directly affect the child (education, maintenance).

From the age of 12, a minor may request himself, with the consent of his parents, the opening of a young booklet.. He may also deposit or withdraw money into his account or his booklet. However, the amount and frequency of withdrawals may be limited. Parent signatures are required for removal operations.

In all cases, you are responsible for the funds and movements in your child's accounts.

You can use the money deposited in your child's account or booklet yourself. The use of these funds is limited to expenditures that directly affect the child (education, maintenance).

You are also responsible for the debts of your minor child.

From the age of 16, a minor may, in most banks and with the permission of his parents, open a bank account with a credit card and checkbook associated with it.

He may deposit or withdraw freely money into this account.

He may also withdraw the sums shown on his A or Young Booklet alone, unless his parents or his guardian object.

In all cases, you are responsible for the funds and movements in your child's accounts.

You can use the money deposited in your child's account or booklet yourself. The use of these funds is limited to expenditures that directly affect the child (education, maintenance).

You must be accountable to your child for the use you make of this money.

You are also responsible for the debts of your minor child.