— I WANT A —

Teen Savings Account

Book a savings meeting

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. 


What we offer

Balance & Interest

Minimum opening balance of €1 and maximum balance of €5,000.99. We will give you a higher interest rate on any balances up to €5,000.99, if your balance is more than this, we will give you a lower interest rate on all the money in the account. See savings rate page for further details.

A good start

We will pay bonus interest of €20 (subject to DIRT deduction) to the account six months after account opening if a minimum balance of €50 is kept in the account for these six months. This may affect the interest rate on all the money in the account.

Easy to manage

You can use a passbook or card with this account. The adult named on the account can use the EBS Debit Card and the card is also available for the teen when they turn 16.

Flexible saving

The account holder can withdraw or lodge money as often as they like.

No fees or charges

No maintenance fees or charges on this account.

What you need to know

  • This account is for personal customers and is suitable for people between 12 and 17 years of age. One account per teen 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.

  • The interest rate on the account is variable. That means the interest rate changes from time to time. Where applicable, we will apply any interest you earn every June and December. See savings rate page for further details.

  • The interest and bonus payments may also bring your balance above the €5,000.99, which will result in the lower interest rate being applied on all the money in the account. When the balance goes back below €5,000.99, we will automatically give you the higher interest rate again.
  • 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 teen savings account, you will need to provide the above documents for yourself and the following for the teen:

  • Personal identification documentation – Birth certificate or valid passport. You must bring original, not a copy.
  • Address identification for the teen – for example, a recent utility bill or a bank statement. Again, all documents must be originals.
  • Proof of the teen's PPS number. 

To open this account, the teen's birth certificate or the applicable court order (or other relevant documentary evidence*) must be produced as proof of parenthood/guardianship. This is in addition to proof of identity and residential address.

*Please contact your local Office for guidance.

If the teen does not live with you, we will need a utility bill from the parent or guardian who lives with the teen and a note signed by them stating that the teen lives at that address, giving consent for the account opening.

Within four months after the teen reaches 18, we will change the account to an EBS Money Manager Account. We will write to you when your account is eligible for conversion.

Need more support?

Savings Interest Rates


Contact us

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

Request a call back
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.