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Account without overdraft facilityHaving a bank account helps children and young people learn to budget properly from a young age. Parents can transfer their pocket money on a monthly basis, for example. Charge-free youth accounts (with no overdraft facility) are an ideal way of managing this money. |
Children and young people can open an account of their own with the consent of a parent of guardian. The services provided with a youth account are generally the same as for a normal account. Bank transfers, cash withdrawals and online banking are all possible (but with no overdraft facility).
Parents can specify in advance how much money the child can withdraw independently. A bank card with no overdraft facility protects the young person from going into debt.
Find out about the various options available. Some banks offer special personal accounts for under-14s which only allow cash to be withdrawn with the signature of a parent or guardian. This enables children – together with their parents – to learn how to save.
One account is enough
We recommend that children should have just one account or, at most, one additional savings account for longer-term savings objectives. The more payment systems and cash transactions that are involved, the harder it is to keep track. Be careful with cashless payments! Before applying for a credit card, be sure to check the terms, conditions and facilities carefully.
Student accounts
Young adults, high school students and those at college or in vocational training can choose from a range of mostly charge-free options offering benefits like preferential interest rates, one-on-one advice, cinema tickets, etc. For the best advice contact your bank or post office directly.
Further information
Instructional clip “das Konto”
Parents can specify in advance how much money the child can withdraw independently. A bank card with no overdraft facility protects the young person from going into debt.
Find out about the various options available. Some banks offer special personal accounts for under-14s which only allow cash to be withdrawn with the signature of a parent or guardian. This enables children – together with their parents – to learn how to save.
One account is enough
We recommend that children should have just one account or, at most, one additional savings account for longer-term savings objectives. The more payment systems and cash transactions that are involved, the harder it is to keep track. Be careful with cashless payments! Before applying for a credit card, be sure to check the terms, conditions and facilities carefully.
Student accounts
Young adults, high school students and those at college or in vocational training can choose from a range of mostly charge-free options offering benefits like preferential interest rates, one-on-one advice, cinema tickets, etc. For the best advice contact your bank or post office directly.
Further information
Instructional clip “das Konto”
