Can I open a Military Kids account for my child?

Jasmine Shillington Updated by Jasmine Shillington

Yes, parents and guardians are able to open accounts for their children, including our Military Kids account.

The process is slightly different depending on the age of the child.

Under 11 years of age

If a child is under 11 years of age, a parent/guardian must open the account on the child’s behalf and be an authorised signatory to operate. Children are not permitted to personally transact on an account if under 11 years of age. As an authorised signatory on your child’s account, you do not own the funds in the account. While you will have full access to the funds in the account, any use or withdrawals must be solely for the benefit of your child as a parent/guardian.

11 years of age or older

If the child is 11 years of age or older, the account can be opened and personally operated on by the child. Depending on the account type, a Visa Debit Card may be linked. A child over the age of 11 years can appoint or remove signatories to operate the account such as a parent/guardian.

What happens when my child turns 18?

For accounts held in the child’s individual name only we will remove the authorised signatories when the child turns 18, or when we become aware the child has turned 18.

If the account is in joint names, the child will need to contact us to request the removal of any authorised signatories.

Also if their account is specifically designed for children (i.e. Military Kids account), we will contact them when they turn 18 to convert it to an equivalent or better transaction account.

How did we do?

Can my child have a Visa Debit card?

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