Completely ignoring the reasons why children need to have accounts in the first place, we must recognize that we are living in a new era. Some parents argue that it is part of growing up and learning to manage. But banks welcome it because it provides additional income for the bottomless pit of largesse.
Bankovní karty
These institutions claim that children\’s accounts are free. Really? Then why is almost everything around them chargeable? For another, the bank opens the account, but it is the parent, and only the parent, who monitors it. But if they prohibit all transactions on that account, what is the account for?
Banks call these accounts “small accounts. The bank believes that since the child has been with the bank all along, the bank will recoup its investment in the customer as long as the child is not cashing out every month. That is unbelievable. Czechsare lazy and do not like to change banks. One time, a bank offered a sum of 500 kronor for switching. However, when we approached that person to switch, they would not do so. Most of them declared that they were familiar with their bank. And that was that. The monthly fees at their existing bank didn\’t bother them, and even the claim that there was no charge to maintain an account at their new bank didn\’t sway their decision. Most of the time, they continued to whine about the amount the bank charged.
But back to the children\’s accounts: from the age of six one could have an account. It is very, very “fashionable” to casuallymention among school mothers that Pepi or Tony or Hermenegildo has a bank account. That\’s how they dress nowadays.
Dvě děti
The biggest danger of children\’s accounts is that children will also have cards. At least the money won\’t disappear becauseyou withdraw money from an ATM (usually a different ATM than where you are opening the account)
so be really careful about what you sign up for at the bank if you are likely to open an account for your child. In particular, check the fees carefully, and carefully consider the limits on individual cards and, by extension, on your child\’s limit.