The 1822direkt Junior Depot reviewed!

Are you ready to lay the financial foundation for your children's future? With the 1822direkt Children's Depot, you offer your offspring the chance to build wealth today that will support them in critical moments of their lives, such as education or their first step into independence.

1822direkt is a subsidiary of Frankfurter Sparkasse and a purely online bank. The Children's Depot offers attractive benefits like free depot management and a free settlement account with 2.00% interest p.a. for amounts up to €100,000 and a term of 6 months.

Learn about the other pros and cons of the 1822direkt Junior Depot, how you can save taxes with your child's investment, and the investment strategy used, in our Junior Depot comparison.

To keep you updated, we have compiled the latest offers from the provider:

1822direkt is extending its promotion for checking accounts: Customers who open an 1822MOBILE or Girokonto Klassik by 31.07.2024 and use it as their salary account can earn attractive bonuses. New customers receive 50 € for 1822MOBILE and 100 € for Girokonto Klassik. More details are available in the terms and conditions.

In addition to these bonuses, new customers will receive a savings account with a top interest rate of 3.30% p.a. for the first 6 months on balances up to 250,000 €. After this period, the standard interest rate as per 1822direkt's price and service list will apply.

Furthermore, customers can earn up to 75 € in referral bonuses for recommending 1822direkt products to others. In total, you can receive up to 175 € in bonuses depending on the chosen checking account.

To apply for a Children's Depot with 1822direkt, as a legal guardian, you must first open a child’s account as a settlement account. You can request the documents on the 1822direkt website, print them out, and send them signed to the post office. There, you can identify yourself via PostIdent. If you share custody, all guardians must sign and identify themselves.

Only adult legal guardians can jointly apply for the Junior Depot for their child. The child itself cannot do this. If other relatives, such as grandparents, want to open a children's depot for their grandchild, they need written consent from the child's parents.

To open a children's depot, you should prepare the following documents:

Investing for your child at 1822direkt offers numerous advantages compared to other children's depots:

The disadvantages are quite manageable:

The costs of the Junior Depot are relatively low, especially with active use of the depot.

Depot management is free for the first three years. After that, a fee of €3.99 per month is charged for inactive use. With active use, it remains free. Any depot management fees incurred will be debited at the end of the quarter or year. Fees resulting from a transaction are debited immediately.

From now on, you can invest in 100 ETFs at 1822direkt without execution fees. Your savings rate must be between €50 and €500 per month. These conditions apply exclusively to people who have not had a securities account with 1822direkt or Frankfurter Sparkasse in the last three years.

At 1822direkt, the order fee consists of a base fee of €4.90 and an additional commission of 0.25% per trade, depending on the trading volume. A minimum fee of €9.90 is charged for each transaction, and the maximum fee per trade is €54.90.

At 1822direkt, you can choose between active funds and passive ETFs for your investment focus. A list of available funds and ETFs can be found on the 1822direkt website.

You have several selection categories: For passive ETFs, you can choose a sector like healthcare and decide between developed and emerging markets. Alternatively, you can also choose sustainable ETFs.

Additionally, 1822direkt offers 2,000 classic, actively managed funds by a manager, which are slightly more expensive than ETFs, or one of the 100 fund savings plans, which are offered at a discount to new customers.

The withholding tax, which is levied on capital gains, is 25% in Germany. Did you know that you can claim tax advantages through your child's investment? There are two different annual exemptions: the savings allowance of €1,000 and the basic allowance of €10,908. Both can be easily claimed with the tax office.

Incidentally, the Junior Depot does not affect social benefits like child benefit or unemployment benefit. However, you should note that a child must not earn more than €485 per month to be co-insured free of charge in the family insurance.

A special highlight at the online bank 1822direkt is the voucher program for customers. When you sign up for a new product, you receive a voucher code that you can register on the voucher portal. These are 2for1 vouchers that allow you to save 50% on various leisure activities, such as restaurant or sauna visits for two.

1822direkt offers a user-friendly banking app that allows you to view your account and depot movements and make transfers. Brokerage functions, such as buying and selling securities, are only available via the website.

As long as the child is a minor, the guardians have full control over the depot and its management. However, they are not allowed to withdraw and freely spend the money.

The disposal rights are decided when the child's account is opened. Either each parent has sole disposal rights, or both are jointly authorized. In the latter case, orders and inquiries can only be made in writing and by post.

The settlement account must be set up as mandatory for a children's depot. It is essentially an intermediary. The money is transferred to the child’s account and invested from there. You will receive 2.00% p.a. interest on up to €100,000 for the first 6 months.

When the child reaches adulthood, the account and the Junior Depot are transferred from the guardians to the child. The child then has full access to the accumulated wealth.

To find the right junior custody account, parents should compare several providers. Discover more junior depots in our tests!