Accounts for children and students under 18

Accounts for children under 15

You can set up a bank account for your child as soon as he or she is born, and he or she can have his or her first payment card from the age of 8. Deposit money from grandmothers or send pocket money and teach how to manage his/her own finances. Your child only has passive access to Internet Banking, so he or she cannot send online payments or make other changes to the account. In addition, there are preset limits for card payments and ATM withdrawals.

 

• A child can have an account in their name from birth
• All outgoing and incoming domestic payments in CZK are free

• The child can open a personal account, a savings account or a time deposit
• Opening and maintaining a personal account and savings account is free of charge
• Mastercard or Visa payment card for children from 8 years old with preset limits for payments and ATM withdrawals (up to 15 years old max CZK 5000 per week), we send the PIN to the card by post and its sending is free of charge. To issue the card, the child must be present in person with his/her own ID.
• Unlimited free ATM withdrawals anywhere in the Czech Republic and abroad
• Only the legal representative can manage the account
• The child can activate the Smartbanking app in passive mode so that they can monitor the account and learn financial literacy.

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Accounts for students aged 15 to 18

Young people aged 15 and over can use the account in two different ways: with the supervision of a legal guardian or without the supervision of a legal guardian.

With the supervision of a legal guardian

The account can be opened at any Fio Bank branch.

Required documents:

Minor: ID card or passport

Legal guardian: ID card or passport + the minor’s birth certificate (or another document proving the relationship to the minor)

Financial limits:

• Cash withdrawal at a branch counter: CZK 50,000 per month
• Internet or mobile banking: CZK 50,000 per month

Without the supervision of a legal guardian

Opening the account at any Fio Bank branch:

Required documents – Minor: ID card or passport

Opening the account online:

Required documents – ID card + passport. Minor citizens of Austria, Germany, Poland and Slovakia may also use Czech BankID to open the account.

Financial limits:

• Cash withdrawal at a branch counter: CZK 15,000 per month
• Internet or mobile banking: CZK 15,000 per month

Both account options are free of charge, as are Fio’s savings products – Fio Konto, Fio Savings Account and Term Deposit.

Withdrawals from all Fio Bank ATMs are always free of charge, as are withdrawals from all ATMs in the Czech Republic and abroad.

Both incoming and outgoing domestic payments in CZK are completely free of charge.

The use of Fio Internetbanking and the Smartbanking mobile app is also free of charge, and young clients can use these services in the same way as adult clients.

Young clients can use Internetbanking and Smartbanking to make payment orders up to the applicable limit, activate their payment card themselves, set up notifications, manage payment templates, change payment card limits and activate 3D Secure for online card payments.

• An account for a child from birth to 15 years of age can be opened by his/her legal guardian at any of our branches. All you need to do is bring your ID and the child's birth certificate. In case the parent has registered the child in an ID card/passport, this document will be sufficient. All transactions with the account, including sending payments, are carried out only by the legal representative (setting up, cancelling the account, giving instructions), either in person at the branch (up to 5k per month) or in their Internetbanking (up to 15k per month).
• To issue a payment card (for children from 8 years of age), the child must be present in person at the branch with his/her own ID.