Since 14th of March 2022, you can open a minor account only if you provide the correct documents during your first verification attempt, so that we can keep our 5-minute promise for you 🙏
You can learn all about the accepted documents during your verification here
How do I open an account for my child?
Minors can easily open their own account as long as they have the approval of their parent or legal guardian. Why? As a bank we need to comply with the laws and regulations, and following these guidelines the legal guardian is responsible for the minor's account.
We're working to make sure that our accounts are available for any minor in Europe but for now, this isn't available in Spain due to a different signup process. More information about it can be found here.
We'll make sure to let y’all know when this changes! 🚀
What do you need to open an account?
First of all, we need an ID document from the child. Secondly, the parent or legal guardian has to have a bunq Personal account.
From now you can invite your child by following this simple process:
- Open the bunq app
- Head to the Green Tab
- Select Invite Friend!
- Copy your invite link and send it to your child
- They should accept the invite and follow the flow
Or your child can simply download the app and start the verification directly, they'll have the opportunity to send you a Parent invite during the flow.
When signing up and providing personal info, your child will be asked to mention their parent. You'll need to confirm you're allowing them to have the account. Once reviewed and approved by the bunq team, your child can enjoy their personal account.
If you want to keep an overview on your child’s transactions and expenses, you can always connect their account to yours. To learn how, check this topic.
If you instead don’t want your child to have their own account, you can always open a sub-account for them within your user account by following the easy steps explained here
Good to know
- A proof of relation is asked when the names of the minor and legal guardian/parent aren't the same.
- Both the child and legal guardian/parent have to have a bunq account. You can choose any of our plans (More info on our plans here)
- You as a parent have full overview and access to all sub-accounts your child opens, without the need of Joint account
- Before a successful verification, your child has a so-called e-money account. Under European regulations, we're allowed to offer these accounts without verifying the identity of the person opening the account. To avoid fraud and other misconduct, these e-money accounts are severely limited in their functionalities. Your child won't be able to verify their account until you approve it through the app.
Want to learn more?
You can explore more bunq knowledge here 🦄