Services for children

You can save for your children’s future and teach them to track their expenses from the very childhood or simply transfer pocket money to your child’s account using convenient services for children offered by Nordea.

Nordea offers main kinds of savings for children with an opportunity to receive the saved money and the basic sum upon reaching the age of 18. Such a saving will be a perfect present to your child for the 18th anniversary. After that the child will be able to choose whether to use this money for studies, travelling, as the first deposit for purchasing real estate or for other plans.

Nordea offers solutions for children dealing with savings and daily expenses.

Savings

• Savings Account – a child, a parents or other relatives/friends can deposit to this account any sum without a set payment schedule. The account will provide the online viewing mode letting the child to track the savings. For conditions that are identical for children and adults, please, see here.
• Term Deposit – one-time investment for the period of time from 1 month up to 5 years with an option to prolong the deposit term. Automatic extension of the basic sum is a convenient solution – when the basic deposit sum is prolonged automatically for the same period of time upon completion of the deposit term, but accrued interest will be available on the child’s account. This kind of savings can also be viewed in the internetbank. For conditions that are identical for children and adults, please, see here.

Daily expenses

From the moment of birth

Already from the moment of your child’s birth you can open an account for him and her and sign for any savings product.

An account for a child can be opened by one of the parents (there is no need for the both parents’ signatures). For such an account the signatory authority is not executed as parents may withdraw money from the account of a minor only upon presenting a decision of an orphans' court allowing withdrawal of money.

For you and later for your child to be able to track account balance and volumes of savings on your account, the child’s account can provide online viewing mode through your internetbank. This means that payments will not be allowed for execution from the child’s account but it will be possible to sing up for new savings options as well as to prolong or amend the existing ones. Connection to the internetbank and its maintenance is free of charge. All the standard options provided by the Nordea internetbank will be available to a child.

From 6 years

For a child who has reached the age of 6, the issue of pocket money is of importance. Maestro payment card for your child is a convenient and modern way to secure your child with pocket money. The card is connected to the account of one of the parents. You will be able to add money to your child’s account yourself or choose regular payments. This account can be viewed through your internetbank or internetbank can be connected to your child’s account thus providing wider range of services offered. A child can be taught to track and manage his assets himself.
A daily limit from 1 LVL can be adjusted to a child’s card.

From 12 years

MasterCard credit card is available for children 12 years old and over. This card is especially useful if your child plans to travel or study abroad. The card is connected to the parents’ account. The account can be viewed through the internetbank of the parents or a separate internetbank can be connected to a child’s account thus providing wider range of services offered. This card can be used freely to execute online payments, make shopping abroad.

From 16 years

Starting from the age of 16 years, if a minor has personal property, for instance, working and receiving a salary, he or she can open the personal bank account, sign up for Maestro card and make payments and savings. Besides, you can sign your child for Nordea customer advantage programme and receive discounts.