Bank account for child

Caspero

Is there a bank that offers child accounts to people in the ROI with these features?

• Account in the child's name (from age 0: I see some banks have accounts for over 7s but that's no good for us)
• Can send and receive SEPA payments to and from the account

Ideally it'd also be low cost and allow online access but we could live without those features if it's not possible to find in combination with the above.

Rabobank used to be the job but they're gone now. Looking for a replacement.

Irishphotodesk

You can open an account in child’s name but only child can withdraw money.

Pretty confident anpost and/or credit union has this, would need to double check with my wife but our kids have bank accounts which they lodge any birthday/Christmas money into.

Our plan is to get them into a habit of saving which will result in them being financially more responsible when they get older....that’s the plan anyway.

JustAThought

whats a SEPA payment?

Have you looked at An Post accounts?

Also credit unions?

punisher5112

There is a debit card called cents I believe... Something like that anyway

closifer

I opened a child save account with bank of Ireland. It's in my name but with the child's name as a reference and it will change to their account when he turns seven. I have a direct debit set up to transfer children's allowance money in monthly and can transfer extra if I like.

Caspero

JustAThought wrote: »

whats a SEPA payment?

Have you looked at An Post accounts?

Also credit unions?

A SEPA payment is just a bank transfer to another account in the European Union. One you'd use an IBAN for.

I looked at the An post website, wasn't sure if they had the transfer option from the website though. They looked like deposit/withdraw only?

Spocker

Try your local Credit Union, they can offer all of what you are looking for, and more. https://www.communitycu.ie/cuweb/wp-content/uploads/0132-A5-Flyer-FA.pdf

Caspero

closifer wrote: »

I opened a child save account with bank of Ireland. It's in my name but with the child's name as a reference and it will change to their account when he turns seven. I have a direct debit set up to transfer children's allowance money in monthly and can transfer extra if I like.

Thanks...wouldn't work for us I'm afraid because we need to transfer money into his Degiro brokerage account from his bank account. Degiro only allow transfers in from a bank account with the same name as the brokerage account holder. So has to be his name, not his parent's name with him as reference. Rabobank was that way.

Caspero

Spocker wrote: »

Try your local Credit Union, they can offer all of what you are looking for, and more. https://www.communitycu.ie/cuweb/wp-content/uploads/0132-A5-Flyer-FA.pdf

Thanks I saw that site, but looks like they only allow people to open accounts who work or live in the area and we don't live near that one. I will try my local one though - their website didn't say anything but I'll give them a ring I guess.

Spocker

Caspero wrote: »

Thanks I saw that site, but looks like they only allow people to open accounts who work or live in the area and we don't live near that one. I will try my local one though - their website didn't say anything but I'll give them a ring I guess.

I only posted link for info - your local Credit Union should be able to help you out