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Arion Bank

Borgartúni 19, 105 Reykjavík

SSN: 581008 - 0150

Swift: ESJAISRE

LEI: RIL4VBPDB0M7Z3KXSF19

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  1. Individuals
  2. ▸
  3. The family
  4. ▸
  5. Children

Ad­vance to the fu­ture

It is important to start early in building the foundation for your children's financial security.

Arion Fridindi DSF3005

First steps in fi­nances

First deb­it card

Cash is becoming rare, so it can be convenient to transfer pocket money directly to your child's debit card.

Parents and guardians can apply for a debit card for their children at the age of 9. The card is free, and children don't pay any transaction fees.

Debit cards

Young Saver Ac­count

Young Saver Account is an inflation-indexed account that is ideal for long-term savings. The account makes a great gift for those who want to lay the foundation for children's and teenagers' futures.

It's easy to open the account in the Arion app, and guardians can set it up with just a few clicks.

Savings accounts

Save in funds

To be able to trade funds, guardians need to start by establishing securities trading for the child, which can be done in the Arion app.

You choose the amount that suits you – no minimum and no cost for buying or selling.

Savings accounts
App - stöðuskjár - light

The family is in the Arion app

We emphasize making it easy for families to manage their finances in a simple and convenient way.

In the Arion app, you not only have a good overview of your finances but also a good overview of your children's finances. Additionally, spouses can grant access to each other's accounts, making household finances even simpler and more convenient.

Treat for the children

We do our part when it comes to teaching children about money and especially savings. That's why we want to give children a treat when they reach their savings goals.

You can choose between gift cards for movie theaters and Huppa ice cream shops.

Glaðningur fyrir börnin - Huppa

Ar­ti­cles

Arion fríðindi - stelpur í trjám

Banking services for children and teenagers

Going to the bank and opening an account, getting access to online banking, and receiving your first payment card are all significant steps in the lives of children and adolescents.

Part of growing up and becoming an adult is gradually learning to make decisions about money and understanding how finances work. However, this needs to happen in small steps, and it's important to teach children and teenagers about finances just like other major aspects of life.

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fjölskylda - barn

Children's Savings

It's never too early to start saving, and it's also good to introduce children to saving at a young age. The first steps in teaching saving are usually taken by filling a piggy bank and bringing it to the bank, perhaps even receiving a small reward to take home.

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Fjolskylda laugardal

Having a Baby

When your family grows, it brings both joy and new challenges. It’s important to plan your household finances in advance, as expecting a child means changes in both income and expenses. Ideally, you should start thinking about your finances even before deciding to expand your family, as having a financial buffer can help bridge the gap that often occurs during parental leave.

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Körfuboltastelpa

Coming of Age

At first, it might not seem like a big change in life to turn 18. It feels the same to wake up at 17 and at 18, and the day's tasks remain the same. Legally, however, there is a very significant difference between these two days, and countless things change when the clock strikes midnight on the last day of the seventeenth year.

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