Whether you wish to retain control, or let them take control, we have a savings account for your child.
Opening a children’s saving account is an effective way to teach your kids vital budgeting and money management skills. Our simple guide will help you compare children’s savings accounts to help you choose the right account for your child.
Family Account
Family Accounts are a sub-account of your main share account. There are no age restrictions with family accounts and the main account holder retains control of the sub-accounts. These are ideal for parents who wish to save money for their child’s education or to help them get their foot on the property ladder. As this is a sub-account of the main account, the overall savings cap applies to the total of the main account, including the sub-accounts.
Children’s Savings Account
A Children’s Savings Account can be opened by anyone between the ages of 7 and 15 years who live, or attend school within our common bond – children of individuals who work in our common bond are also eligible to open an account. This account gives full control to the child and this account is completely separate from the parent or guardians account. Click here to apply for a Children’s Savings Account.
Juvenile Current Account
Our Juvenile Current Account offers everything our standard current account offers, just without the low monthly fee! With a Croí Laighean Juvenile Current Account, your child can tap and go with contactless payments or connect with Apple Pay and Google Pay. for complete freedom. Parental Consent is required for Members aged under 16 years who wish to open a Juvenile Current Account. Click here to apply for a Juvenile Current Account
Family Account |
Children’s Saving Account |
Juvenile Current Account | |
Available for children of any age | ✔️ | ❌ | ❌ |
Available for over 7’s | ✔️ | ✔️ | ❌ |
Available for over 12’s | ✔️ | ✔️ | ✔️ |
The account is in the child’s name and the child receives all correspondence and has full control of the account | ❌ | ✔️ | ✔️ |
Parent(s) retain control of the account | ✔️ | ❌ | ❌ |
Share cap includes parent or guardian account balance | ✔️ | ❌ | ❌ |
Sub-account of an adults account | ✔️ | ❌ | ❌ |
Parent or child can make lodgements | ✔️ | ✔️ | ✔️ |
Balance receipt available to parent or guardian | ✔️ | ❌ | ❌ |
Parent can make withdrawals | ✔️ | ❌ | ❌ |
Child can make withdrawals | ❌ | ✔️ | ✔️ |
Independent IBAN for account | ✔️ | ✔️ | ✔️ |
View your accounts 24/7 with online and mobile banking | ✔️ | ✔️ | ✔️ |
Transact on your account 24/7 with online and mobile banking | ✔️ | ❌ | ✔️ |
Current Account with debit card and digital wallets (Apple Pay / Google Pay) |
N/A | N/A | ✔️ |
The account can be transferred to a fully functioning account at 16/18 | ✔️ | ✔️ | ✔️ |