Can a minor have a bank account or a savings product?

From birth of your child, you can request the opening, in his name, of a bank account, of a booklet A, of a bank savings account, of a housing savings plan (PEL), of a Climate Futures Savings Plan (PEAC), or life insurance.

This opening can be done without the consent of the child.

The business rules differ depending on the type of banking product:

From 12 years, your child may request the opening of a young booklet.

He can also deposit or withdraw sums on his bank account or his booklet. However, the amount and frequency of withdrawals may be limited. Your signature is required for withdrawal operations.

In any case, you are responsible for the funds and movements in your child's accounts.

You can use the sums deposited in your child's account or booklet yourself. The use of these funds is limited to expenditure which directly affects the child (education, maintenance).

You are responsible for the debts of your minor child.

From 16 years, your child can, in most banks and with your permission, open a bank account. He will also benefit from a credit card and a checkbook associated with the account.

He can deposit or withdraw money freely in this account.

They can also withdraw the amounts listed on their livret A or livret jeune, unless you or their guardian object.

In any case, you are responsible for the funds and movements in your child's accounts.

You can use the sums deposited in your child's account or booklet yourself. The use of these funds is limited to expenditure which directly affects the child (education, maintenance).

You must be accountable to your child for the use you make of this money.

Your child can take legal action against you to obtain the return of his capital. For this, he must refer the matter to the judicial court within 5 years, from the age of 18.