How to Open a Child’s Bank Account

How to Open a Bank Account for a Child in Spain (and the Best Options)

Several major banks in Spain offer accounts specifically designed for children, helping parents introduce their kids to the world of finance from an early age. Opening a bank account for a minor is not just about convenience—it’s an excellent tool for fostering financial responsibility and teaching them the basics of saving and managing money.

Many banks provide child-friendly accounts with no fees and features that allow parents to oversee and guide their child’s financial habits. But how does it actually work in Spain? What legal requirements must be met, and which are the best options available?

Children’s Bank Accounts in Spain: What You Need to Know

Before exploring the best accounts for minors, it’s important to understand the legal framework surrounding them.

According to the Banco de España, minors cannot enter into contracts unless they are at least 16 years old and legally emancipated. This means that a legal representative (usually a parent or guardian) must be present when opening the account.

While the account is legally owned by the child, the parent or guardian typically has control over its management, including making deposits, withdrawals, and other banking transactions. The child, however, is usually limited to making deposits until they reach adulthood.

Once the minor turns 18, they will gain full control of the account. However, some banks allow parents or guardians to be joint account holders, meaning they would share ownership of the funds, which could have legal and tax implications.

How to Open a Bank Account for a Minor in Spain

The exact requirements for opening a child’s bank account vary by bank, but generally, you will need to provide the following documents:

The child’s DNI, NIE, or NIF to verify their identity.
The parent or guardian’s DNI, NIE, or NIF.
A document proving the parental or guardian relationship, such as the Family Book or birth certificate.

Most banks in Spain allow these accounts to be opened from birth, and the process can often be completed either online or in person, depending on the institution.

Best Bank Accounts for Minors in Spain

Several banks in Spain offer attractive options for minors, each with unique features. Here’s a look at some of the best choices:

1. Revolut

Revolut offers a flexible account for under-18s, allowing parents to set up automatic allowances to be deposited at regular intervals. The account also includes:

A round-up feature that saves leftover cents from purchases.
A card for the child to use for payments.

2. CaixaBank – Imagin

Imagin, the youth banking brand of CaixaBank, offers an account for 12 to 17-year-olds with these benefits:

A free debit card for purchases.
The ability to set up automatic allowances (parents must have a CaixaBank account).
Access to Bizum, a free service for transferring money.

3. BBVA

BBVA offers a children’s account from birth, with added benefits as the child grows:

From age 12, they can get a card and use Bizum, if parents approve.
Discounts on travel and other perks for older kids.
Parents must hold a BBVA account.

4. Santander Mini Account

Santander’s Mini Infanti account is designed for children from 0 to 17 years old and includes:

A prepaid card, rather than a standard debit card. This means parents must load funds onto the card before the child can use it, helping with financial discipline and security.

5. Openbank

Openbank, the digital bank owned by Santander, also offers an account for minors with:

A prepaid card for children.
The ability to upgrade to a debit card at age 18.
A fully online application process, allowing parents to open the account without visiting a branch.

Final Thoughts

Opening a bank account for your child in Spain is a great way to help them develop healthy financial habits from a young age. Whether you’re looking for an account with automatic allowances, prepaid security features, or Bizum compatibility, there are plenty of solid options available.

As with any financial decision, it’s important to compare terms and conditions to find the best fit for your family’s needs. If you need any legal or financial guidance regarding banking and contracts, SGM Abogados is here to help.