Youth account

Youth account is the name of a bank account for young people. With these accounts, which often contain various discounts, banks try to win young people as customers in order to bind them to their company at an early stage. In addition, the youth account gives young people the opportunity to practice dealing with money free of charge.

In contrast to other account types, no account maintenance fees are charged for youth accounts. In addition to money transactions for salary payments or pocket money payments from parents, the credit can usually be accessed free of charge with bank cards at ATMs . Also, electronic banking , can have the steps from your PC via his account, available free of charge in most youth accounts. When you open a youth account, you often join the youth clubs of the individual institutes. At some institutes, interest is paid on youth accounts at savings rates. Most banks offer youth accounts for people between 12 and 27 years of age; often students can keep their accounts on similar terms.

An overdraft option is excluded for accounts of minors in any case. The permission of the legal guardian is required in any case to open such an account.

Web links

• Stiftung Warentest zu Jugendkonten test.de, 23 August 2004