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ABN Amro youth growth account review

A practical bank account to teach your child about money

The ABN Amro youth growth account is a special account for youngsters between 12 and 18 years old. In this review we discuss what you and your child can expect from this account and we tell you all about the pros and cons.

What is the ABN Amro youth growth account?

The ABN Amro youth growth account is a bank account for young people between 12 and 18 years old. With this youth account you can provide your child more options than with a child account. When you open this account for your youngster, he or she will receive their own debit card. They also get access to both online banking and the mobile app in which they can manage their own bank account. However, this is always under the supervision of you as a parent. So, all changes they make must be approved by you first. In addition, you always have insight into the account to keep an eye on what they do with it and you can set limits or restrictions if necessary.

How does this youth account work?

The youth growth account is offered free of charge by ABN Amro, a renowned Dutch bank. This account can be opened for children between 12 and 18 years old. Your child can learn all about money with their own bank account, a debit card and access to mobile banking. To mention an example, you can give them allowance on their bank account and show them how this adds up to their balance. And when they are a bit older, they can receive the salary of their after school job on this account.

Of course they can also do their own expenses, such as paying a phone bill or buying school supplies. This will always be done under your supervision, because as a parent you have insight into the account at all times.

What do you get when opening an ABN Amro youth growth account?

An ABN Amro youth growth account comes with a number of extras that we listed for you:

  • Child-friendly bank account. Your child can use this account to receive and spend money, but the internet banking environment is child-friendly with certain restrictions. Overdrawing is not possible.
  • Savings account. You can also open a separate savings. However, you won’t receive interest on the savings. From 1 January 2021 you will even pay a negative interest rate of 0.5% over the balance above € 500,000. However, this interest rate is variable and the bank can therefore change it at any time.
  • Debit card with PIN code. This allows your child to pay in shops with their card or withdraw cash. For this the parent can set daily, weekly or monthly limits.
  • Contactless payments. This allows your child to pay with a mobile phone or debit card without entering a PIN code. There is a limit of €50 per payment and €100 per day. You can also change the limits or turn this feature off.
  • Apple pay. With every ABN Amro account it is possible to set up Apple Pay.
  • Internet banking. Your child will have access to the online environment of the account using his or her own login details.
  • Mobile app. In addition to internet banking, your child can also view the account in the ABN Amro mobile app.
  • Exclusive access to ABN Amro kids events. Several times a year, the ABN Amro organises kids events that kids with a youth growth account can join for free.

Which settings can you set as a parent?

With the ABN Amro youth growth account you can influence the bank account of your child in certain ways. This way you can prevent him or her from making big mistakes. You can give them more freedom, or a little less by using the following settings:

  • Online payments. You have the option to enable or disable the option “make online payments with iDEAL”. You know best where your child is ready to get the ability to do online payments.
  • Limit of online payments. When your child is allowed to make online payments, you can set the limit of the maximum amount that he or she can spend online per day, week or month.
  • Approve payments. You can indicate that you need to approve online payments before it goes through.
  • Debit card limit. It is also possible to set the daily, weekly or monthly limit of the debit card. For example, they can never spend more than a certain amount in the store or by withdrawing cash.
  • Payment alerts. When you give your child complete freedom about the account, you can always choose to activate payment alerts. This will notify you of all debits and credits that take place on the account.

You can easily control all the above settings in your own online internet banking environment or via the mobile app.

What are the costs of the ABN Amro youth growth account?

Opening the youth growth account will cost you nothing at all. There are also no monthly costs charged. Below you will find a complete overview of the costs involved with an ABN Amro youth growth account:

  • Monthly costs: €0
  • Receiving a corresponding debit card: €0
  • Applying for a new bank card: €0 if the bank card has expired, is broken or was taken by an ATM machine. €7.50 if the debit card is lost or stolen.
  • Charges for foreign transfers: Receiving or sending money via the internet in foreign currency and/or outside the SEPA-area costs €9 per transaction.
  • Foreign currency cash withdrawals: €2.25 + 1.2% per withdrawal
  • Charges for debit card payments in foreign currency: €0.15 + 1.2% per payment

Depending on how you use the account, other charges may apply.

Pros and cons of the youth growth account


  • A free account for youngsters between 12 and 18 years old
  • 24/7 online access to the account
  • As a parent you can view the balance and expenses of the account at any time
  • No extra costs when you use the debit card within the Eurozone
  • As a fun bonus, your child gets access to ABN Amro kids events
  • No surprises, because overdrawing is not possible


  • You can’t apply for a credit card for this account
  • Outside the Eurozone, costs for payments with a debit card can add up high

How do I apply for a youth growth account with the ABN Amro?

Applying for a youth growth account is quick and easy. You can do this either online or at an ABN Amro office. Applying for the account only takes five minutes and then you will be asked to sign an agreement for online banking for your child. After it has been received by the bank, the account will be active within five working days.

If your child already has a child account with ABN Amro, it will automatically be converted into a youth growth account on the 12th birthday.

Why would I open a youth account for my child?

Research by Nibud shows that children who learn about money from their parents benefit from this later on in their lives. They will be more aware of money, and this showcases from the fact that they have more responsible purchasing behavior, save money more often and have fewer problems to meet ends.

Of course this does not happen automatically when you open a bank account for your child. They need guidance to understand what money is, what you can do with it and what the consequences are if you don’t have enough money. A youth account offers a solution here, because your child feels he or she is managing his or her own finances, but as a parent you can always supervise. You can hold them accountable for wrong behavior and of course reward them for good behavior.

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