Setup bank a/c for Nephew

H

hjrdee

Registered User
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Is it possible for me to set up a bank account in the name of my nephews and nieces. Instead of xmas presents this year I thought I'd open a bank account for each of them with a nominal amount in each. they are based in USA at the moment but will be living in Ireland permanently from March next year.
 
I imagine this wouldn't be a problem, but I'm not 100% sure.

Just to let you know to set up an account - be it in the Credit Union or bank etc, you need the PPS number of the person you are setting up the account for. Not only do you need the PPS number but you also need it printed on official paper. The Client Identity Service Department of Social Welfare will do this for you - takes 5 to 7 working days. I don't know if you need to be a parent/guardian of the child to request this. When I phoned to get one for my daughter, they did ask me what my PPS number was to confirm who I was.

Just ring your local bank or whichever lending institution you propose to set the accounts up in. Protocol may be different depending on where you go. For the record I, as a mother, think the account is a nice idea as long as you pass it over to the child so they can do the saving!!
 
PPS numbers were taken when opening SSIAs.

Do not think that they are required in the above scenario.
 
I recently opened a bank account in PTSB for my daughter. I needed to bring her passport, my passport, her birth cert. and a household bill. The account is attached to my account and is effectively in my name with her name in brackets after. PTSB advised that when she turns 16 the account can be transferred solely into her name. I am not sure what the system is in other banks but this seems to be how PTSB handle accounts for children. hth
 
I have two accounts for my sons in BOI and the procedure was the same as mts has mentioned for the PTSB
 
I'd imagine the bank have to provide evidence for the CAB office that your nephew is not some gangster trying to set up an account to launder money. I think being resident in the State is the least they'll require.

In the bad old days, people could set up any amount of accounts, for children (often 13 of them). This was in the heady days of long term deposit accounts actually being worth something!
 
mts said:
I recently opened a bank account in PTSB for my daughter. I needed to bring her passport, my passport, her birth cert. and a household bill. The account is attached to my account and is effectively in my name with her name in brackets after. PTSB advised that when she turns 16 the account can be transferred solely into her name. I am not sure what the system is in other banks but this seems to be how PTSB handle accounts for children. hth
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Once they turn 7 they can sign / have account in their own names.
 
What about Credit Union, or AN post. Don't they have childrens savings accounts? Is the procedure the same?
 
nlgbbbblth said:
Once they turn 7 they can sign / have account in their own names.
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Just to clarify the staff member in PTSB who opened the account for me told me that at 16 the account could be transferred into my daughters name, can anyone confirm that this is not the case? 16 does seem a bit excessive.
 
mts said:
Just to clarify the staff member in PTSB who opened the account for me told me that at 16 the account could be transferred into my daughters name, can anyone confirm that this is not the case? 16 does seem a bit excessive.
Click to expand...

might be PTSB policy but is not the case generally.
 
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