Children (0-19 years)

As members of your family, your children will also get your Silver or Gold customer benefits within the Nordea customer programme until they turn 20. We also have several other products and services at reduced prices for your children as well as the discounts under the customer programme.

You can open a settlement account for your child right after their birth. It is worth considering already then how you can support your child embarking on an independent life – the sooner, the better!

To help you do this, Nordea has a flexible child deposit where you can make payments of any amount at any time. Your children can access the money on the deposit and use it to start their independent lives when they turn 18.

  • Cash payments and monthly transactions on the child deposit are free of charge.

You can help teach your children about saving by depositing collected coins, taking them regularly to the bank and having the amount transferred to your children’s current accounts. In this way, your children can quickly collect quite a lot on their accounts.

  • There is no charge for depositing coins for customers under 20.

If you want to make your children’s wishes and dreams come true, it is best to start collecting money on a reserve deposit, which has no fixed term and lets a child pay in any amount at any time. If needed, the money can also be withdrawn from the deposit without the accumulated interest being lost.

  • Under-aged family members of Silver or Gold customers can get a deposit with a higher interest rate.

As your children grow, so will their need for pocket money. You can apply for Maestro Debit Cards for your children from when they are 6 years old. It is simple and safe for your children to use their pocket money like this as the card may be either linked to your current account or to your children’s, and you can make intra-bank transactions on it free of charge at any time.

  • There is no monthly or annual fee for the Maestro Debit Card for customers under 20.
  • Cash withdrawal with this card is free from all Nordea ATMs in Estonia, Latvia, Lithuania, Russia, Poland, Finland, Sweden, Denmark and Norway.

It is a good idea to sign a Nordea Netbank user agreement for your children so that they can keep track of their everyday bank operations. This will let them use all the functions of the bank and also use the Netbank codes to access e-School and other services.

  • There is no monthly fee for using our Netbank for customers under 20
  • All domestic transactions within Nordea and to other banks are free of charge

From 17 on it is time to start thinking about further education and pension funds. Everyone can and must start contributing to the II pillar of the pension scheme from 1 January following the year they turn 18, so they must choose a pension fund before the year starts.

Choosing a pension fund under the II pillar of the pension scheme is one of the most important financial decisions you can make as it affects how much pension you will get in the future. This decision needs some thought, so we invite everyone who wants to start a II pillar account to come for a consultation in a Nordea branch office to see what pension fund will suit them best.

A state-guaranteed student loan is still a good idea for smaller education costs and when you are about to enter higher education you would do well to come and consult our bank advisors to review your goals and find the best solutions for financing your studies.

When you turn 20, you will be automatically be reassigned to the Check-in level of our customer programme, which is specially designed for young customers.