When and why should I open an account for my child?

An own bank account gives your child the foundation for learning financial skills and for saving.

For your child, you can choose a PerkAccount for saving and a Current Account for handling daily banking.

  • A PerkAccount is a good choice as a first account for a child because it’s suitable for regular saving. You can open a PerkAccount for your child online as soon as they have a Finnish personal identity number. It allows you to start saving for your child’s future from the time they are toddler.
  • We recommend opening a Current Account once your child is ready to spend money and use a debit card independently. A debit card allows your child to start practicing their financial skills. You can obtain a Nordea Debit card for your child from the age of 6, and you can open a Current Account for your child at the same time.

PerkAccounts and current accounts are both free of charge for children.

The guardians’ role

The guardians of a minor can open banking services for the child. The guardians can be either the child’s parents or another person who has been appointed as the guardian. If the child has two guardians, they must both agree to open an account for the child. A single parent with sole custody can open banking services for a child on their own. Other close relatives may also gift money to your child or open an account for them with the consent of the guardian(s).

How do I open an account for my child and what should I take into consideration

Saving for your child


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We recommend a PerkAccount as the first account for your child or baby.

  • A PerkAccount is suitable for regular saving
  • over a longer period of time for larger expenses, such as the cost of obtaining a moped driving licence.
  • You can make an unlimited number of transfers to and from the account.
  • There are no restrictions on the deposit period or amounts.
  • It’s excellently suited as an account on which to receive cash gifts from relatives on your child’s birthday, for example.
  • The account is free of charge for children.
  • A fixed deposit interest is paid on the account.
Daily banking services for your child

Current account

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We recommend that you open a Current Account for your child when you order a Nordea Debit card for them. Your child can get a Nordea Debit card from the age of 6.

  • It’s suitable for children once they’re ready to spend money independently.
  • It makes daily life easier for the whole family when your child can pay for small purchases independently.
  • By keeping an eye on the balance of their Current Account, your child will learn to handle their finances.
  • An account where your child can receive their first salary in the future.
  • The account is free of charge for children.
Opening an account
Using an account
On the cusp of adulthood
Power of attorney for the other guardian

Saving for your child

By saving even a small sum regularly you can build a nest egg for your child’s future.

Read more about saving for your children

Debit card for your child

Having a debit card brings many benefits to your child. The child can manage their daily spending better and learn financial skills.

Read more about debit cards for children

Cashless payments for children

Our daily banking services for children allow your little ones to bank easily and securely.

Read more about banking for children