At some point, your child will want a bank account of their own — for pocket money, a gift from grandparents, or their first holiday job. That can sound like a big decision, but it is actually a manageable step. A children's account works differently from a regular adult account, and those differences are exactly what make it easier than you might expect.
What a children's account actually is
A children's account — sometimes called a pocket-money account — is a current account (an everyday account for paying and receiving money, where funds can be deposited and withdrawn) set up specifically for someone under 18. At its core, it works like an ordinary account: it has an account number, often its own debit card that can be used to withdraw cash at a machine or pay in shops, and an app or online access to check the balance. The real differences are in the rules that apply behind the scenes.
Who has to sign — and why that is required
Children and teenagers under 18 cannot sign a contract with a bank on their own. The law requires a parent, as the child's legal representative, to co-sign — meaning at least one parent (with some banks, both) must be present when the account is opened, or give consent online. This is not a sign of distrust toward the child. It is simply the legal basis: only from age 18 can someone enter into contracts entirely on their own. From around age 7, children can already carry out simple banking tasks themselves with parental consent, such as depositing or withdrawing money — before that age, parents decide on their own.
Once your child turns 18, the children's account usually converts automatically into an ordinary current account, the kind adults use. You can get a sense of how that kind of account works ahead of time at /en/personal-accounts.
Can you see the transactions as a parent?
This depends on the child's age and on the bank, but as a general rule: as long as parents are the legal representatives, they usually have visibility into the account — they can see the transactions (all money going in and out), often through a separate view in the app or an access that runs alongside the child's own. Some banks also let you set a monthly spending limit. Ask specifically, when you open the account, how this visibility actually works — it is handled differently from bank to bank, and it will be explained clearly at the appointment or in the advisory conversation.
No going into the red — and that is a good thing
A children's account almost always runs on a balance-only basis. That means only as much money can be spent as is actually in the account. An overdraft — the ability to spend more money than is available and slip into negative balance — simply does not exist on children's accounts. That protects your child from accidentally taking on debt, and it doubles as a useful first lesson: you can only spend money that is actually there.
A starting point for healthy money habits
Having their own account is a good, low-pressure opportunity to talk with your child about money. A few simple rules help from the start: the PIN (the personal security code for the debit card) belongs to nobody but the child themselves — not even to their closest friends. Looking at statements together makes it visible where the money actually goes. And a small, self-chosen savings goal — a toy they want, or a bicycle — teaches how saving works far more effectively than any explanation could.
There is nothing you can get wrong here. There is no single "correct" order in which a child has to learn about money — what matters is simply that they start gaining their own experience, in a safe and protected setting.