Request a call back from your local savings advisor. They’ll be happy to meet you for a chat or answer any questions you have
— A GOOD PLACE TO START SAVING —
Help teens to learn about money management
Ah, the teenage years – you can’t believe they’re here already. You’re suddenly chauffeuring them to discos on a weekly basis, and buying them the latest smartphones. But your teenager’s newfound independence could be tough on your pocket (you’re doling out money left, right and centre). Now is a good time to get them learning about money management and being wise with their cents.
— AT A GLANCE —
What we offer
A good start
A bonus interest payment of €20 (subject to DIRT deduction) may be credited to the account 6 months from account opening if a minimum balance of €50 is saved and maintained throughout this period
Easy to manage
The account may be operated using a passbook in the teen's own name. A debit card is available when your teen reaches 16 years of age
Flexible saving
The account holder can withdraw or lodge money as often as they like
Opening balance
There is a minimum opening lodgement of just €1 and the maximum balance of the account is €5,000
No fees or charges
No maintenance fees or charges on this account
What you need to know
This account is only for personal customers and designed for 12 to 17 year olds. One account per teenager can be opened.
If the teenager is 16 – 18 years old, they may open the account in their sole name. If they are 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.
Interest rate is variable and where applicable, interest is calculated daily and credited to the account in June and December.
You can read the Terms & Conditions for the EBS Teen Savings Account here
— FAQ —
Got some questions?
Find answers to some of the frequently asked questions
By bringing the documents we need with you, you’ll save time and have your new account opened in no time. Whether you are a new or existing EBS customer, to open a new savings account you will be asked to provide:
Personal identification documentation – such as a valid passport or valid driver’s licence. You must bring an original, not a copy.
Proof of your permanent address – for example, a current utility bill, dated within the last six months (Gas, ESB, landline phone), bank statement, motor or home insurance renewal document. Again, documents must be originals.
Proof of your PPS number
If you are opening a children or teen savings account you will need to provide the above documents for yourself and the following for the child:
Personal identification documentation – Birth certificate, passport or your passport if they are named on it.
Address identification for the child – for example, your recent utility bill or bank statement.
Proof of the child’s PPS number
If the child does not live with you, we will need a utility bill from the parent or guardian who lives with the child and a note signed by them stating that the child lives at that address, giving consent for the account opening.
Within four months of you reaching 18 years of age, the account will be converted to our MoneyManager Account. We will write to you when your account is eligible for conversion.
Need more support?
Important Information
Account terms & conditions apply. 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.