The minor’s account is locked in saving until they reach 18 years
Conditions of the Child Bond Account
Withdrawals cannot be made on this account
When the child reaches the age of 18 years, the account will convert to a current account, with the child being the account owner
How to open a child Bond Account
Customers who meet the Bank’s normal criteria for an account holder can open a Child Bond Account for a child aged 17 years or under. It will be necessary to show family or legal guardian relationship, or have approval from the parent(s) or legal guardian. Where the child is aged 16-17 years, he or she may open an account without an adults involvement.