The account can be opened from the age of 7, but the credit card is only available from the age of 14.
-
PostbankCosts per monthCosts refer to the first month and may vary in the following month0,00 €Minimum ageChildren's credit cards are often only available with the consent of a legal guardian over 18 years of age.7 YearsCard typeCreditCard systemMastercard- Low basic fee
- Up to €100 overdraft possible
- Free cash withdrawals at selected locations
Customer support
telephone
e-mail
branch
Educational concept
Yes
Online Banking
Yes
Instant money transfer
Yes
Customizable cards
No
Real Time Updates
Yes
Costs first year
0,00 €
Costs for subsequent years
5,00 €
Cash withdrawal
Free of charge within the Cash Group & at Shell petrol stations
Foreign currency fee
1.85 %
Spending limit
Yes
Subscriptions blocked
Yes
Minimum age
7 Years
Credit check
Yes
Application only by legal guardians
Yes
Online application possible
Yes
Online contract conclusion
Yes
Postal application mandatory
No
Postal contract conclusion mandatory
No
Application via document submission
Yes
Application in store mandatory
No
Identification procedure
Yes
Identity of applicant and child required
Yes
Bank account required
Yes
Alternative
-
bunqCosts per monthCosts refer to the first month and may vary in the following month0,25 €Minimum ageChildren's credit cards are often only available with the consent of a legal guardian over 18 years of age.0 YearsCard typePrepaidCard systemMastercard- 24/7 customer support
- Bank account with German IBAN
- No interest or annual fees
The child and youth account from Postbank: Giro start direkt
The Giro start direkt account is for children, teenagers, and young adults between 7 and 22 years old. It offers a variety of advantages for gaining financial independence and learning money management. Along with online banking and easy management through the associated banking app, Postbank also offers free cash withdrawals within Germany, associated cards, and personal customer service at their branches with this account.
Conditions of the children's account
The Postbank children's account is a user-friendly starter account. It can be opened online and offers both online and personal customer service for account holders and their guardians.
From what age is the bank account available?
The Giro start direkt account is for all young people between 7 and 22 years old. The conditions of the student account vary once the account holder becomes an adult. For example, from the age of 18, you can open the account independently online and add a credit card. Minors, on the other hand, can open the account together with their parents or guardians at a Postbank branch.
Costs and interest
Free services include: Account management until the age of 22, online banking, the associated Girocard, and cash deposits and withdrawals at all ATMs of the Cash Group within the EU. However, certain services incur fees. Here are the most common ones:
The credit card is free for one year and then available for a fee of €5 per year.
Mastercard usage outside the EU costs 1.85%.
Instant transfers cost €0.50 per transaction.
From adulthood, account overdrafts are possible. The interest rate is 12.89% p.a.
An additional Postbank Card costs €6 per year.
Replacement PIN or password for telephone or online banking costs €6 each.
Cash withdrawals and deposits
With the associated child Girocard or Mastercard, cash deposits in banknotes can be made at all ATMs of the Cash Group (Deutsche Bank, Commerzbank, HypoVereinsbank). Cash withdrawals are possible not only at ATMs but also at over 1,300 Shell gas stations.
How to open the Postbank Youth Account
Parents or children can apply for the Postbank Giro start direkt account as an allowance account or children's account by first visiting the official Postbank website. On the website, they will find information about the account and an application form. To open the account, parents must act as legal representatives if the child is still a minor. They fill out the application form and provide all the required information. Identification is then done via PostIdent or VideoIdent. The account opening process takes about 10 minutes. Postbank will review the documents and approve the account. Once approved, parents or the child will receive the account details and cards.
Cards for the Postbank Giro start direkt account
The Postbank Giro start direkt account offers a free Girocard (EC card) for domestic use. This card allows cash withdrawals at ATMs and cashless payments in stores.
Additionally, from the age of 18, a Mastercard can be requested for use both domestically and internationally. This card expands payment options globally and can be used for online purchases and travel. It is free for the first 12 months and costs €6 per year thereafter.
The prepaid Visa card from the age of 13 is no longer offered by Postbank.
Digital banking: Online banking and the Young Money app
With the Giro start direkt account from Postbank and the Young Money App, online banking is easy and convenient for young people. Through the uncomplicated management of finances, children and teenagers can keep track of their finances from anywhere, make transfers and standing orders, pay bills, and shop online. Together, they provide an ideal solution for modern and flexible account usage while being highly secure with a personal PIN, mobileTAN, chipTAN, and BestSign.
Pros and cons of the Youth account
Advantages
- Free Account Management: One of the main advantages of this account is free account management. There are no monthly account management fees, which is especially financially relieving for young people or students.
- Girocard and Mastercard: The account includes a Girocard (EC card) for domestic use. Upon request, from the age of 18, a Mastercard can be added, enabling international use and online payments.
- Online Banking and Mobile App: With the Giro start direkt account, customers have access to Postbank online banking and the mobile app. This facilitates account management, transfers, and access to account statements from anywhere.
Disadvantages
- Limited Branch Presence: In recent years, Postbank has closed some branches, meaning access to personal advice and service on-site can be limited.
- Additional Services Cost: While account management is free, certain additional services, such as cheque deposits or cash deposits at ATMs, can incur fees.
- Credit Limit and Overdraft Interest: The account offers an overdraft facility but at a relatively high-interest rate.
Overall, the Postbank Giro start direkt account offers a cost-effective and practical option for daily banking and online account management. Individual preferences and requirements should be considered when deciding for or against this account.
To find the right credit card for their children, parents should compare several providers. Find out what you need to consider in our guide!
How Can Parents or Children Open the Postbank Giro start direkt Account?
Parents or children can apply for the Postbank Giro start direkt account online via the official Postbank website by filling out the application form and providing all required information. It is important that parents act as legal representatives if the child is still a minor to open the account.
From What Age Can the Student Account Be Used?
The Postbank Giro start direkt student account is available for children from the age of 7.
How Much Does the Postbank Giro start direkt Cost?
The Postbank Giro start direkt account offers free account management. However, there may be costs for certain additional services, such as cash deposits at ATMs or cheque deposits, which can vary individually.
