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Header - Custodial Savings account

Custodial Savings Account

Are you looking for a unique gift that’s sure to be appreciated? With our Custodial Savings account, you can give a head start to a special child in your life.

Unique and pratical

A gift they’re sure to love

Are you looking for a gift that’s unique and has practical value? Our Custodial Savings account offers a way to set aside money for a special child in your life. You can make deposits whenever you want, and the money will earn interest at an attractive rate.

When the child turns 18, they’ll gain access to the account. The accumulated savings will help them start off adulthood on the right foot!

Extras

Sweetening the deal

When you open a Custodial Savings account, you can choose an age-appropriate gift for the child:

  • A cuddly star toy made from recycled materials
  • A wooden piggy bank, to help the child learn about saving money

You’ll also appreciate the account’s more practical benefits: there’s no fee to open or manage the account, and the attractive interest rate means the savings will grow faster.

CHF 40 ACCOUNT OPENING BONUS

Give them a head start

If the account is opened by the child’s parents, BCV will credit CHF 40 to
the new account. This little bonus will give your child a head start on the
road to savings.

*The CHF 40 credit is only paid into accounts subject to parental responsibility (see our flyer “Custodial Savings account: How it works”).

Flexible

Étoile Filante foundation

For every Custodial Savings account opened by a parent, BCV will donate CHF 10 to the Fondation Étoile Filante (Shooting Star Foundation), an organization that grants the wishes of children living with a serious disease or disability.

Learn more

Ready to open a Custodial Savings account?

FAQs

You can open a Custodial Savings account for any child or young person under the age of 18, whether or not you are related to them.

Any legal adult who wants to build up savings for a child can open a Custodial Savings account. There are two types of Custodial Savings accounts: accounts subject to parental authority and accounts not subject to parental authority. The main difference between the two lies in who owns the account assets.
An account subject to parental authority can be opened by someone with parental responsibility, generally the child’s father or mother, regardless of their civil status (married, separated, divorced, cohabiting partners), and the child is the owner of the account assets. An account not subject to parental authority can be opened by any adult, such as a grandparent, godparent, or family friend. That person is the owner of the account assets until the child turns 18, at which point the assets become the property of the child.
More details about the two types of accounts can be found in the “Custodial Savings accounts” brochure.

For accounts subject to parental responsibility: one or both parents.

For accounts not subject to parental responsibility: the person opening the account (the “custodian”).

You only need to bring your legal ID. However, you should have the following information on hand: the child’s first and last name, date of birth, and mailing address.

No, you can only open a Custodial Savings account for a child who is already born.

You can open a Custodial Savings account at any BCV branch. No appointment is necessary.

No, currently it is only possible to open a Custodial Savings account at a BCV branch.

It depends on whether the account is subject to parental authority or not. For more information, please see the “Custodial Savings accounts” brochure.

This information can be found in the “Custodial Savings accounts” brochure.

One month before the child’s birthday, you will receive a Custodial Savings account certificate in the mail to present to the child if you wish. On the day the child turns 18, the account is automatically converted into a Young Savers account, which they will be responsible for managing on their own. They will also receive a letter from BCV informing them of the existence of the account and inviting them to visit a BCV branch and present their ID to confirm ownership of the account.

No, the Custodial Savings account and the money it holds will automatically be turned over to the child on the day they turn 18.

Useful documents