Open Young Savings Account

It is a bank account for minors and the perfect way for them to learn to save and obtain financial returns from a young age. You can open the account with €1, earn interest on up to €1.000.000, and decide how much you want to save. You can deposit or withdraw money and the interest earned from an associated current account, at any time and with no fees!

The minor. However, you (as their mother, father, guardian or legal representative) must manage the account (since it is associated with your own account) until they are of legal age. When they turn 18, their Open Young Savings Account will become a fee-free Openbank Savings Account. As the Openbank Savings Account has no payment means, we'll start the process to open an Open Current Account for them. Plus, it's fee-free too!

The risk indicator corresponding to both accounts is included at the top of the page.

It’s free to open, maintain and close this children’s savings account. No costs or fees. You can withdraw the money and interest whenever you want with no fees of any type. What's more, your children will receive all of the interest earned in their Open Young Savings Account each month. See the applicable fees for using the main services associated with the account in the Pre-Contractual Information

It's as simple as clicking here or logging into our app with your mobile or tablet. The account will be activated when we receive a photocopy of the minor's (i) National ID card or NIE and passport, and (ii) the Family Book, court ruling (if applicable) or similar document proving that the legal representative is the minor's father, mother or legal guardian (civil registration certificate). You must send the documentation to ayuda@openbank.es or drop it at Correos Box 1,086, 28014 Madrid If you would prefer to speak to someone, you can call (+34) 91 177 33 10 if you are a customer. We are also on hand to help at our main branch.

When the child reaches the age of 18, the Open Young Savings Account will automatically become an Openbank Savings Account in the name of the minor (who will be the sole account holder), where the balance it has on that date will be transferred. The Openbank Savings Account must be associated with an Open Current Account, and therefore, the minor, once aged 18, must open an Open Current Account to be able to bank this way with their Openbank Savings Account. Neither the Openbank Savings Account nor the Open Current Account have opening, maintenance or closing fees. In addition, the Open Current Account has an Open Debit Card free of charge for the main holder. Plus, if you prefer, you can also apply for the Prepaid eCommerce Card free of charge, amongst other products. Before the child reaches the age of 18, check that we have updated your data, access your Customer Area and go to the ‘Personal Details’ section of your profile. When they turn 18, we will contact them to manage the activation of their new Open Current Account. For any queries, call (+34) 91 177 33 10.

We make it simple. Call us on +34 91 177 33 10 and our team of professionals will be glad to help.