Open an account for your child and teach them how to be smart about money. You can conveniently set bankcard limits for the child’s bank account on the LHV mobile app and keep an eye on their expenses. Open an account for a child quickly and easily in internet bank or mobile app.
Opening the account is free of charge
The parent will have an overview of the child’s financial affairs until the child reaches maturity
The child can view the account balance and use the “Ask for money” option on the mobile app
Steps for opening an account
The Child Account can be opened for a child up to the age of 17 (incl.) by a parent or guardian with the corresponding right of representation, if the parent or guardian is a customer of LHV. The child’s ID card, passport or residence permit card issued in Estonia is required for opening the account. If you are not a customer of LHV, start by opening an account for yourself.
Login to the LHV’s mobile app or internet bank with your username and Smart-ID, Mobile-ID or ID card.
Go to “Information and settings” → “Agreements” in the menu or click on the "+" icon in the mobile app and choose the option to conclude a "Child account" agreement.
Conclude the Child Account Agreement.
Change the user role next to your name in the top left corner to start using LHV’s services via the Child Account.
Limits and rights
When the Child Account is opened, only the parent will initially have the right to conclude transactions on the account. From age 7 and up, the parent may grant the child the right to make online payments via the internet bank or mobile app. If you wish to change the limits or rights or to grant the other parent access to the account, please fill out the application on the internet bank in the child’s role, under “Information and settings” → “Accounts and limits”.
To provide the child with a quick and easy view of the account balance via the internet bank or mobile app, the parent can add a login password to the Child Account. To add a password, go to “Information and settings” → “Password management” → “Login password” in the child’s role. Adding a password will allow the child to access the account with his/her personal username and password, granting a limited right of viewing the account balance.
A bank card may be ordered for the child from age 7 and up via the internet bank or mobile app. The card will be sent by post, and will be free of charge for the child until he/she turns 26. We also offer a Youth Card for youngsters, along with a cool contactless payment option and various benefits.
First steps as an investor
Growth Account and microinvesting
We have made investing in your child’s future easy for you – start with microinvesting. This is the opportunity to collect a small sum from your child’s each card transaction in Growth Account. The money will not simply be sitting there, it will instead be invested automatically. If your child doesn’t yet have a bank card, you can also make larger one-time deposits. For regular investments make a standing payment order. Growth Account is without maintenance fee for your child until the age of 26.
How to start investing on behalf of a child?
To start investing with the Child Account, the parent or guardian must conclude the Investment Services Agreement on the child’s behalf. To conclude the agreement, go to “Information and settings” → “Agreements” in the child’s role and select the “Conclude the agreement” option under “Investment services”. If you wish to buy securities traded on Baltic exchanges, you must also open the free-of-charge Baltic securities account in the agreements view.