Separation affects the whole family
There is a lot to think about when a relationship ends, especially if you and your partner have children together.
Managing your child’s banking after separation or divorce
Following a separation, both parents will continue to manage your child’s finances together if you have joint custody. You will have access to your child’s accounts until the child turns 18 or you, as the guardians, agree on making changes to the access rights together. Both guardians also have the right to obtain information on the child’s accounts independently. If one parent gets sole custody in the divorce, they will be authorised to make all decisions regarding the child’s banking alone.
Getting a debit card for your child can make life easier for your family. Read more about banking for children and young people.
Many parents also put aside money for their child. It is good to remember that if you have started saving for your child’s future, the user rights and saving agreements related to funds and book-entry accounts will remain unchanged. Read more about saving for your child
How can we help you?
We are here to help you deal with any banking arrangements related to your separation or divorce. You may need to update user rights to accounts, savings agreements and insurance policies, among other things.
We can also help you sort out a joint mortgage, for example. Read more about division of assets and joint housing loans here.