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Young Savers Account

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  • 27-02-2018 1:55pm
    #1
    WacoKid
    Registered Users Posts: 433 ✭✭


    Hi

    I want to open accounts for my kids.  However, I'd like to be able to administer the accounts online to avoid running to the bank to deposit funds every time the tooth fairy visits!

    Can you advise.

    Regards


Comments

  • Options
    #2
    Bank of Ireland: Tara
    Closed Accounts Posts: 2,346 ✭✭✭Bank of Ireland: Tara


    Hi Wacokid,

    Thanks for your post.

    As the Young Savers Account is opened in the child's name, it can't be added to view on your 365 profile. You would have the option to add the account as a payee to make transfers in to the account online. We also have a Child Save Account which is opened in the parent's name and can be added to view the balance on your profile.

    The features and benefits of both accounts can be viewed here.

    Thanks
    Tara


  • Options
    #3
    WacoKid
    Registered Users Posts: 433 ✭✭WacoKid


    Hi

    To confirm on the Child Save account, can I add funds to this online, either as an account added to the parent's profile or as a payee?


    Thanks
    Eric


  • Options
    #4
    Bank of Ireland: Jane
    Closed Accounts Posts: 266 ✭✭Bank of Ireland: Jane


    WacoKid wrote: »
    Hi

    To confirm on the Child Save account, can I add funds to this online, either as an account added to the parent's profile or as a payee?


    Thanks
    Eric
    Hi Eric,

    Thanks for coming back to us.

    To clarify between the two accounts.

    A Child Save account can be added to Banking 365 if opened in the Parent/Guardians name, to view the balance till your child is 7. Any additional lodgements are made at the counter in a branch up to the amount of €10,000 and you can make one withdrawal per month without penalty.
    You cant add this as a payee as it is set up to fund by Direct Debit and doesn't accept SEPA transfers.

    A Young Saver account can have a Standing order set up, and can be added as a Payee to make additional SEPA transfers. You can make 3rd party lodgements in the branch in the LATM machine, bearing in mind cheques are lodged at the counter as there is no card issued.
    Once the child is 7 they will need to be present to make any transactions on the account.
    This account cant be added to banking 365 online as its opened in your Childs name.

    If you'd like to check the features and benefits of each, please type the names into the search bar on the Group Website and this is listed for both accounts.

    Please get back to us if you need anything else.

    Thanks again,
    Jane.


  • Options
    #5
    WacoKid
    Registered Users Posts: 433 ✭✭WacoKid


    Thanks Jane.

    Final question!:

    As a parent how can I then view the balance of Young Saver account; can it be viewed online?

    Regards
    Eric


  • Options
    #6
    Bank of Ireland: Jane
    Closed Accounts Posts: 266 ✭✭Bank of Ireland: Jane


    WacoKid wrote: »
    Thanks Jane.

    Final question!:

    As a parent how can I then view the balance of Young Saver account; can it be viewed online?

    Regards
    Eric
    Hi Eric,

    A young saver account cannot be added to view online as its opened in your child's name. You are issued with yearly statements however you can call into the branch at any time with your ID and your child if they're over 7, to get a balance if you need one.

    Thanks again,

    Jane


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