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

Verified 19 July 2022 - Directorate for Legal and Administrative Information (Prime Minister)

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

From birth of your child, you can request the opening, in his or her name, of a bank account and a booklet A.

This opening can be done without the child's consent. He will not be able to use the account or booklet until he is 12 years old.

In any case, you are responsible for the funds and transactions on 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 expenditure which is of direct concern to the child (education, maintenance).

From 12 years, your child may, with your consent, request the opening of a young booklet. They can also deposit or withdraw money in their account or booklet. However, the amount and frequency of withdrawals may be limited. Your signature is required for withdrawal operations.

In any case, you are responsible for the funds and transactions on 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 expenditure which is of direct concern to the child (education, maintenance).

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

From 16 years, your child can, in most banks and with your permission, open a bank account. It can also benefit from a credit card and a checkbook associated with the account.

Please note

if your child is an employee or a student, he or she may, under conditions, open a bank account without your permission. For more information, ask your bank advisor.

He can freely deposit or withdraw money in this account.

They can also withdraw the amounts shown on their booklet A or booklet for young people on their own, unless you or their guardian object.

In any case, you are responsible for the funds and transactions on 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 expenditure which is of direct concern to the child (education, maintenance).

You have to be accountable to your child for the use you make of that money.

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

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