Being a teenager is about making choices and learning from them. And a major part of being a parent or guardian is giving them the space to do this. One of these choices will be what to do with their money. This is where the Teen Savings Account, designed for 12 to 17 year olds, can help.
- €20 Bonus: A one off bonus interest payment of €20 (subject to DIRT1 deduction) will be credited to the account 6 months from account opening if a minimum balance of €50 is saved and maintained in the account for the first 6 months from the date of account opening
- Minimum balance of €1, maximum balance of €5,000
- Competitive variable rate of interest
- Account is operated using a passbook in the teen's own name
- EBS Debit Card available for teen when they turn 16 years of age
- If the teenager is under 16 years of age, the account must be opened with an adult, who will act as signatory and the mandate to operate the account will be in the sole name of the adult
- Within four months after the teenager reaches 18 years of age, the account will be redesigned as an EBS MoneyManager Account
- View account online- register at www.ebs.ie
- Limit of one account per teenager
- Gift certificates available for family and friends who gift an amount into the account
- No fees and charges with this account
If the teenager is under 16 years of age, the account must be opened with an adult, who will act as signatory and the mandate to operate the account will be in the sole name of the adult.
See details of terms and conditions on this account here.
Check out our Teen Savings rates
Important information: Account terms & conditions apply. 1 Interest is subject to Deposit Interest Retention Tax (D.I.R.T.) at the prevailing rate (for more information see www.revenue.ie).
The EBS Debit Card is provided by Mastercard®.
Mastercard® is a registered trademark of Mastercard® International Incorporated.