Can a mother open an account for her minor children? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

Can a mother open an account for her minor children?

Asked by Banky team 2 months ago 2 views
Banky team Reviewed editorial answer

Yes, accounts can be opened for minors, subject to the bank's terms and conditions and legal status.

Steps

  1. The Central Bank clarified that a mother can open an account or savings account in her minor children's names when the funds are provided as a donation, in accordance with regulations.

  2. Ask the bank about the required documents and management procedures.

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