The Child savings account (Groei Groter Rekening) is a savings account in your child's name. You can start saving right after they're born. You'll find their account balance and deposits in your overview in the Banking App and My ING. Opening a Child savings account is easy with the ING App or My ING.
| Savings balance | Savings interest |
|---|---|
| € 0 to € 10,000 | %{Spaarrentes:PrivateindividualsGGRENG.rente.totenmet10k}% |
| € 10,000 to € 25,000 | %{Spaarrentes:PrivateindividualsGGRENG.rente.boven10ktotenmet100k}% |
| € 25,000 to € 1,000,000 | %{Spaarrentes:PrivateindividualsGGRENG.rente.boven100ktotenmet1M}% |
| € 1,000,000 and up | %{Spaarrentes:PrivateindividualsGGRENG.rente.boven1M}% |
These rates apply as of %{Spaarrentes:PrivateindividualsGGRENG.rente.ingangsdatum}%. The interest rate on a Child savings account is variable and on an annual basis. The interest is deposited to or debited from the Child savings account once a year (January 1st).
"},"textLinks":[{"url":"/particulier/sparen/spaarrente","text":"More about savings interest rates"}]},{"componentType":"sectionTitle","title":"Good to know"},{"componentType":"paragraph","title":"Other relevant information","richBody":{"value":"What you should know about the Child savings account before opening one.
Conditions children's savings account (PDF)
"}},{"componentType":"sectionTitle","title":"Easily and quickly open a savings account for your child in the app or My ING"},{"componentType":"paragraph","richBody":{"value":"Do you want to open a Child savings account for your child? You can easily do that via the ING App or in My ING. Keep your child's Social Security Number (BSN) at hand.
"}},{"componentType":"cta","textLink":{"url":"https://mijn.ing.nl/banking/mobile/savings/NL_GROEI_GROTER_RKG/open?EW=true","text":"Open Child savings account now"}},{"componentType":"cta","textLink":{"url":"/en/personal/payments/bank-accounts/become-a-customer","text":"First become a customer yourself"}},{"componentType":"sectionTitle","title":"Frequently asked questions"},{"componentType":"accordion","accordionList":[{"title":"As a grandparent or other party, how can I (automatically) put money in the Child savings account?","richBody":{"value":"Grandparents and other parties can't open a Child savings account. But you can still put money aside for a (grand)child. You can use your own current account to transfer money to the savings account's IBAN number or set up a recurring automatic transfer. The parent or guardian who opened the Child savings account can give you this IBAN number. It’s found in the children's savings account settings in the mobile banking app or My ING.
When you transfer money to a Child savings account, don't forget to enter the following details:
1. Recipient: First + last name of the child (the Child savings account holder)
2. Account number: IBAN Child savings account (for example: NL00INGB0012345678)
Don't forget to cancel any recurring automatic transfers when the child turns 18.
"}},{"title":"As a parent or other guardian, how can I (automatically) put money into a Child savings account?","richBody":{"value":"The Child savings account is linked to an ING current account. Here's how to (automatically) save:
Would you like to use a different ING current account than the one that's currently linked to the savings account? Or an account at a different bank? In both cases, you can make a simple money transfer using the savings account's IBAN number. You'll find this IBAN number in the Child savings account settings in the mobile banking app and My ING.
"}},{"title":"I'm a parent; where can I find the IBAN number of my Child savings account?","richBody":{"value":"You'll find it in the mobile banking app and My ING.
Mobile banking app:
My ING:
Only the legal representative(s) registered with us. This can be a parent or guardian.
The Child savings account is shown on the annual statement of the child, which the child can download if they have a Child or Youth account.
"}},{"title":"Assigning a name to a Child savings account","richBody":{"value":"In the ING App, you can assign a name to your Child savings account. Like your child's name, for example. After assigning, the name will be updated immediately. Comes in handy if you have savings accounts for more than one child.
"}},{"title":"Change offset account Child savings account","richBody":{"value":"The Child savings account can only be linked to the parent or guardian's ING current account. If you'd like to change this linked offset account, cancel the Child savings account and immediately open a new one and link it to the desired account number. You can do this very easily in My ING.
If you need any account statements, remember to download them before you cancel the Child savings account. And if any grandparents or other parties put money into the Child savings account, don't forget to share the new account's IBAN number with them (NL00INGB0012345678, for instance).
"}},{"title":"Blocking an amount in the Child savings account","richBody":{"value":"Would you like to block an amount in your child's savings account so no one can withdraw it? This may be useful when your child receives compensation, a cash gift or inheritance. To block an amount, apply for a Child savings account with a BEM (Heritage and other Funds for Minors Investment) clause.
"}},{"title":"What is a BEM clause?","richBody":{"value":"BEM is short for Belegging Erfenis en andere gelden Minderjarigen. It means Heritage and other Funds for Minors Investment. While the account holder is a minor, they can only access credit with the authorisation of a district judge. A BEM clause can only be placed on a Child savings account.
"}},{"title":"BEM clause: What type of restriction applies?","richBody":{"value":"A Child savings account account with a BEM clause can only be opened with a full restriction. A full restriction means that the entire balance in the account is blocked. No amount may be withdrawn without the approval of a district judge. The full restriction provides maximum protection for all funds. This applies to the deposits, the interest, and any additional credits.
"}},{"title":"How do I open a Child savings account with a BEM clause?","richBody":{"value":"Request a BEM clause using the form ‘Child savings account with BEM clause’.
If you're having a notary or insurance company deposit funds, please include these details when you transfer:
Please note: without a court order/judgment or a letter from the insurer, the Child savings account with a BEM clause cannot be opened.
"}},{"title":"How do I put money into a Child savings account with a BEM clause?","richBody":{"value":"Simply transfer the money to the IBAN number of the Child savings account. The parent or guardian who opened the account has the IBAN number. It's found in their mobile banking app or My ING under the Child savings account settings.
When you transfer, please include these details:
You can only do this with permission by a district judge. Please send this permission and the payment request digitally to:
OMS.Rechtspositie.Spaarders@ing.nl
Or by mail to:
ING N.V.
Savings Department
P.O. box 40580
8900 SW Leeuwarden
Please include the name of the child, the account number and the amount you'd like to withdraw.
"}},{"title":"What happens to the Child savings account when my child turns 18?","richBody":{"value":"On your child's 18th birthday, we'll transfer the total savings in the Savings account (Oranje Spaarrekening) linked to the Youth account (Jongerenrekening) of your child. The savings will be deposited into a designated savings goal we'll create within the savings account. This way, the money will remain in your child's name, and they will be able to see how much has been put aside for them. If your child doesn't have a Savings account linked to their Youth account, we'll open one on their behalf.
If your child doesn't have an ING Youth current account yet, or has an account at a different bank, we will transfer the money to the current account linked to the Child savings account on the 18th birthday of your child.
"}},{"title":"What happens to my automatic transfers to the Child savings account when my child turns 18?","richBody":{"value":"We automatically stop automatic savings orders by the current account linked to the Child savings account. .
If you have set automatic transfers to the Child savings account, you need to manually cancel them.
"}},{"title":"Child savings account or Child current account","richBody":{"value":"With a Child savings account, (grand)parents can put money aside for a child's future.
If you'd like for your child to be able to save their pocket money, a Child current account is best. Your child will be able to view this account if they have My ING and/or the ING app.
You can also open both a Child savings account and a Child current account.
"}},{"title":"Can I set up direct debits from a Child savings account?","richBody":{"value":"No, unfortunately not. Like with any savings account, you cannot set up direct debits from a Child savings account. You can do that with your current account instead.
"}}]},{"componentType":"linkList","iconTitle":{"title":"Children"},"textLinks":[{"url":"/en/personal/children","text":"Accounts for your child"},{"url":"/en/personal/children/service/digital-banking-for-your-child","text":"Digital banking for your child"},{"url":"/particulier/kind/service/kinderrekening-wordt-jongerenrekening","text":"Conversion of Child current account into a Youth current account (Jongerenrekening) (in Dutch)"}]}]},"complementaryZone":{"flexComponents":[{"componentType":"cards","cards":[{"componentType":"productCard","cardType":"product","cardSize":"medium","title":"Saving for your grandchild","intro":"What are your options?","body":"If you'd like to save for your grandchild's future, a parent or guardian can open a designated Child savings account at ING. Another option is simply putting money aside for them in your own savings account. Learn what's the best option for you.","image":{"transformBaseUrl":"https://assets.ing.com/transform/5162b557-9ecb-4e11-8f7b-ecdba4806b9c/Grandfather-makes-pretend-moustache-on-his-granddaughter-with-her-long-hair","type":"image","width":5616,"original":"https://assets.ing.com/m/550f099b111c5f68/original/Grandfather-makes-pretend-moustache-on-his-granddaughter-with-her-long-hair.jpg","extension":"jpg"},"link":{"url":"/particulier/kind/thema/voor-de-dromen-van-je-kleinkind"}},{"componentType":"productCard","cardType":"product","cardSize":"medium","title":"Child current account (0-11 years)","intro":"Let your child discover money","image":{"transformBaseUrl":"https://assets.ing.com/transform/e6bcf2b4-eb1c-4fbf-a7b9-75d6d78d722d/Portrait-of-cute-girl-with-sunglasses","type":"image","width":4896,"original":"https://assets.ing.com/m/20c4dcd50735c015/original/Portrait-of-cute-girl-with-sunglasses.jpg","extension":"jpg"},"link":{"url":"/en/personal/children/products/child-account"},"checkMarkList":["Free current account for your child","Give them more responsibility one step at a time","Parents can keep track in their own app"],"promoText":"Now with €10 as a gift. Promotion Terms and Conditions apply."},{"componentType":"productCard","cardType":"product","cardSize":"medium","title":"Easy Invest","intro":"Investing in your child’s future","image":{"transformBaseUrl":"https://assets.ing.com/transform/987fcd09-a9a1-46d1-b468-c907d10db817/Young-girl-makes-nutella-and-peanut-butter-sandwich-in-home-kitchen","type":"image","width":5520,"altTextEN":"\"\"","altTextNL":"\"\"","altTextFR":"\"\"","altTextDE":"\"\"","original":"https://assets.ing.com/m/1eec6cd7beba6daa/original/Young-girl-makes-nutella-and-peanut-butter-sandwich-in-home-kitchen.jpg","extension":"jpg"},"link":{"url":"/particulier/beleggen_variant1"},"checkMarkList":["In your own name or the name of your child","Start from just €10 per month","No investment knowledge required"]}]}]}}}