Current account for a childTeach your child the basics of spending from an early age
Account for first savings
You can open an account even for babies.
Learning to spend one's own money
Current account teaches young people how to spend and save.
Saving child benefits and gifts
You can deposit, for example, child benefits and gifts on the child’s account.
Current account for a child
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 The other parent or legal guardian must inform of the account access rights at the latest when funds are withdrawn from the child’s account or a card is linked to it.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.
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.
The General Terms and Conditions for Accounts for Private Customers apply to current accounts.
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.
As an owner-customer, you will earn OP bonuses for example from:
- 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.