The first step toward financial independence
Managing pocket money is a good way for kids to learn financial responsibility and independence. Our offer for youths is specially designed with their needs in mind and will grow with your children, from infancy to adulthood.
Ideal for
- Kids aged 17 and under
- Teaching them how to start banking online
- Showing them how to take the first steps in managing a budget
- Guiding them toward independence
Youth banking packages with no monthly fees
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3 ways to open a young people bank account
Ages 0 to 6: On your marks
- Make an appointment at the branch of your choice. A legal representative (parent or guardian) must be present at the appointment.
- Start saving in your child's trust account.
Ages 7 to 12: Get set
- Make an appointment at the branch of your choice. A legal representative (parent or guardian) must be present at the appointment.
- Your child may obtain a debit card with permission from their legal representative.
Ages 13 and up: ...Go!
- Make an appointment at the branch of your choice. A legal representative (parent or guardian) is not required at the appointment.
- Your child can go to the appointment alone, open the account, and get a debit card.
Want to open an account or get more information about our offers?
Did you know
If your child is 6 years or younger, the account opened in their name will be a trust account, meaning you maintain full responsibility even if it is in your child's name.
Tip!
Even if your child is 7 or older, we strongly recommend a power of attorney so you can keep an eye on your child's account. Talk it over with your advisor.
Little details that matter
Practical details
Passbooks
The passbook option has not been available to new clients since May 4, 2015. If you are an existing client who uses a passbook with your account, a $2.50 monthly fee will apply.
Fees
For the fees associated with our products and services, consult the Fee Guide [PDF].
Contract governing personal deposit and investment accounts
For more information on the terms and conditions governing your new account, consult the Contract governing personal deposit and investment accounts document [PDF].
Access to basic banking services
For the terms and conditions governing whether a person may open an account or cash cheques and other items from the federal government, consult our guide to Basic Banking Services [PDF].
Access to funds policy
For details of our cheque hold policy, see the Access to Funds Policy [PDF].
Coercive tied selling
To understand what coercive tied selling is and what is not allowed, consult our pamphlet What you need to know about coercive tied selling [PDF].
Canada Deposit Insurance Corporation
Please refer to our page about Canada Deposit Insurance Corporation (CDIC)
FCAC account selector
Discover the Financial Consumer Agency of Canada (FCAC)’s account selector tool to compare bank accounts.
Legal disclaimers
TM THE MINIMALIST, THE MODEST, THE CONNECTED and THE TOTAL are trademarks of National Bank of Canada.
Plan for your child's future
RESP
Save for your children's education and receive up to $12,800 in government grants.
High Interest Savings Account
Benefit from a favorable interest rate and help your child get a good start in life.
Ready to open an account?
Talk to one of our experts to get tailored advice.
