Q: How do I open a Child savings account with a BEM clause?

Request a BEM clause using the form ‘ Child savings account with BEM clause ’. If you're having a notary or insurance company deposit funds, please include these details when you transfer: Recipient: Appointment of the child (Child savings account holder) Account number: IBAN Child savings account (NL00INGB0012345678, for example)

Question 1

As a grandparent or other party, how can I (automatically) put money in the Child savings account?

Accepted Answer

Grandparents and other parties can't open a Child savings account. But you can still put money aside for a (grand)child. You can use your own current account to transfer money to the savings account's IBAN number or set up a recurring automatic transfer. The parent or guardian who opened the Child savings account can give you this IBAN number. It’s found in the children's savings account settings in the mobile banking app or My ING.

When you transfer money to a Child savings account, don't forget to enter the following details:

1. Recipient: First + last name of the child (the Child savings account holder)

2. Account number: IBAN Child savings account (for example: NL00INGB0012345678)

Don't forget to cancel any recurring automatic transfers when the child turns 18.

Question 2

As a parent or other guardian, how can I (automatically) put money into a Child savings account?

Accepted Answer

The Child savings account is linked to an ING current account. Here's how to (automatically) save:

As an ING current account holder, you can use the app or My ING to (periodically) transfer money to the Child savings account.

Would you like to use a different ING current account than the one that's currently linked to the savings account? Or an account at a different bank? In both cases, you can make a simple money transfer using the savings account's IBAN number. You'll find this IBAN number in the Child savings account settings in the mobile banking app and My ING.

Question 3

I'm a parent; where can I find the IBAN number of my Child savings account?

Accepted Answer

You'll find it in the mobile banking app and My ING.

Mobile banking app:

In the app, open your account overview
Select the Child savings account
Tap ‘Settings’ at the top of the screen
The IBAN number is under ‘Account details’

My ING:

Log in to My ING
Select ‘Other accounts’ at the top of the screen
Select the Child savings account
Select ‘Account settings’ at the top right of the screen
The IBAN number is under ‘Account details’

Question 4

Who can access a Child savings account?

Accepted Answer

Only the legal representative(s) registered with us. This can be a parent or guardian.

The Child savings account is shown on the annual statement of the child, which the child can download if they have a Child or Youth account.

Question 5

Assigning a name to a Child savings account

Accepted Answer

In the mobile banking app, you can assign a name to your Child savings account. Like your child's name, for example. After assigning, the name will be updated immediately. Comes in handy if you have savings accounts for more than one child.

Question 6

Change offset account Child savings account

Accepted Answer

The Child savings account can only be linked to the parent or guardian's ING current account. If you'd like to change this linked offset account, cancel the Child savings account and immediately open a new one and link it to the desired account number. You can do this very easily in My ING.

If you need any account statements, remember to download them before you cancel the Child savings account. And if any grandparents or other parties put money into the Child savings account, don't forget to share the new account's IBAN number with them (NL00INGB0012345678, for instance).

Question 7

Blocking an amount in the Child savings account

Accepted Answer

Would you like to block an amount in your child's savings account so no one can withdraw it? This may be useful when your child receives compensation, a cash gift or inheritance. To block an amount, apply for a Child savings account with a BEM (Heritage and other Funds for Minors Investment) clause.

Question 8

What is a BEM clause?

Accepted Answer

BEM stands for Belegging Erfenis en andere gelden Minderjarigen; Heritage and other Funds for Minors Investment. While the account holder is a minor, they can only access credit with the authorisation of a district judge. A BEM clause can only be placed on a Child savings account.

Question 9

How do I open a Child savings account with a BEM clause?

Accepted Answer

Request a BEM clause using the form  ‘Child savings account with BEM clause’. 

If you're having a notary or insurance company deposit funds, please include these details when you transfer:

Recipient: Appointment of the child (Child savings account holder)
Account number: IBAN Child savings account (NL00INGB0012345678, for example)

Question 10

How do I put money into a Child savings account with a BEM clause?

Accepted Answer

Simply transfer the money to the IBAN number of the Child savings account. The parent or guardian who opened the account has the IBAN number. It's found in their mobile banking app or My ING under the Child savings account settings.

When you transfer, please include these details:

Recipient: Appointment of the child (Child savings account holder)
Account number: IBAN Child savings account (NL00INGB0012345678, for example)

Question 11

How do I withdraw an amount from an account with a BEM clause?

Accepted Answer

You can only do this with permission by a district judge. Please send this written permission and the payment request to:

ING N.V.
Savings Department 
P.O. box 40580
8900 SW Leeuwarden

Please include the name of the child, the account number and the amount you'd like to withdraw.

Question 12

What happens to the Child savings account when my child turns 18?

Accepted Answer

On your child's 18th birthday, we'll transfer the total savings in the Savings account (Oranje Spaarrekening) linked to the Youth account (Jongerenrekening) of your child. The savings will be deposited into a designated savings goal we'll create within the savings account. This way, the money will remain in your child's name, and they will be able to see how much has been put aside for them. If your child doesn't have a Savings account linked to their Youth account, we'll open one on their behalf.

If your child doesn't have an ING Youth current account yet, or has an account at a different bank, we will transfer the money to the current account linked to the Child savings account on the 18th birthday of your child.

Question 13

What happens to my automatic transfers to the Child savings account when my child turns 18?

Accepted Answer

We automatically stop automatic savings orders by the current account linked to the Child savings account. .

If you have set automatic transfers to the Child savings account, you need to manually cancel them.

Question 14

Child savings account or Child current account

Accepted Answer

With a Child savings account, (grand)parents can put money aside for a child's future.

If you'd like for your child to be able to save their pocket money, a Child current account is best. Your child will be able to view this account if they have My ING and/or the ING app.

You can also open both a Child savings account and a Child current account.

Question 15

Can I set up direct debits from a Child savings account?

Accepted Answer

No, unfortunately not. Like with any savings account, you cannot set up direct debits from a Child savings account. You can do that with your current account instead.