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Current account for a child

Teach your child the basics of spending from an early age
1

Account for first savings

You can open an account even for babies.

2

Learning to spend one's own money

Current account teaches young people how to spend and save.

3

Saving child benefits and gifts

You can deposit, for example, child benefits and gifts on the child’s account.

Open an account

Current account for a child

You can open a current account for saving when your child is still small. Later, as your child grows up, you can broaden the range of services linked to the account and help your child practice spending. Your child gets full possession of the account after the 18th birthday. Until then, guardians will also have access rights to the account.
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Opening an account is easy

Most commonly the account is opened by the child’s parents. As a guardian, you can open the account yourself if you have consent from the other parent or legal guardian. The other parent or legal guardian must inform of the account access rights at the latest when funds are withdrawn from the child’s account or a card is linked to it. If the other legal guardian is OP’s customer, they may fill in a power of attorney on OP eServices or at a bank branch. If the guardian is not OP’s customer, the power of attorney can only be filled in at a bank branch.

A grandparent or godparent, too, can open an account for a child. For that, you will need the child’s personal ID code and name. 

You can link an eServices Agreement to a child’s account upon consent from both guardians. Credit cannot be linked to a child’s current account.

Deposit interest rate

The deposit rate is 0 %. 

The funds and the deposit interest fall within the scope of deposit insurance up to the amount prescribed by law.  OP Financial Group banks are considered as a single bank from the perspective of deposit insurance.

Account terms and conditions

The General Terms and Conditions for Accounts for Private Customers apply to current accounts.

Take a look at the General Terms and Conditions for Accounts (pdf)

Owner-customer benefits and OP bonuses through banking services

Owner-customer benefits

  • As an owner-customer, you get a current account, OP eServices and OP-Visa card at a lower cost. The cost for owner-customers is €3.95 per month. The cost for other customers is €5.65 per month.

  • As our owner-customer, you can choose a long-term fixed interest rate for your new home loan throughout the loan's term, up to 25 years. This is how you can ensure that your interest charges for your home loan will remain unchanged throughout the loan term.

  • As owner-customer you can get a student loan with no service charge in case your loan application is filed at op.fi.

  • Read more about benefits

OP bonuses

As an owner-customer, you will earn OP bonuses for example from:

  • loans
  • savings and investments
  • funds in accounts
  • purchases you have paid with OP-Visa credit
  • insurance premiums for home, family and motor vehicle policies.

From 1 November 2020, OP bonuses will accrue from:

  • home loans, secured bank loans, student loans
  • savings and investment accounts
  • mutual fund units and unit-linked insurance
  • non-life insurance bills

The change on 1 November 2020 means that no OP bonuses will accrue from:

  • deposits in current accounts
  • unsecured consumer loans (Flexible Consumer Credit, Special Consumer Credit, One-off Credit and Overdraft Facility)
  • OP hire purchase
  • Purchases paid using OP Visa as a credit card, the balance of credit with interest of OP-Visa and OP-Mastercard cards

OP bonuses are used for the bank’s service charges and insurance premiums.


The account is granted by the OP cooperative bank.