Daily allowance account for children – an alternative to a savings book
We’ll help you choose the right child benefit account. When it came to saving money for children, the savings book used to be considered the ultimate. But in the meantime, interest rates on the savings book have almost gone bottomless. As an alternative to the savings book, call money is an option. Below we explain what parents should pay attention to if they want to open a child benefit account.
Security with the call money account for children
Gifts for birth, baptism or communion. Christmas gifts from grandparents and other relatives or saved pocket money. There can be a lot of money for the children. But where to put all the money? Parents naturally want a safe form of investment for their children’s savings. That’s why the savings book used to be so popular as an investment for children. But nowadays, a savings book pays almost no interest. That’s why most savers are looking for one Alternative to the savings book. A sensible alternative to the savings book is a Child benefit account, because it offers the same security as a passbook. Because in the event of bankruptcy, the money in the overnight deposit account is secured by the statutory deposit insurance up to a total of EUR 100,000.
The statutory deposit guarantee does not only apply to banks in Germany, but to all banks in the euro area. With our comparison calculator, you can choose whether you want to display overnight money offers from banks from all over the Eurozone or limit the search to banks from Germany. The banks from Germany generally offer additional security for overnight money through membership in the deposit guarantee fund of the Federal Association of German Banks. For example, overnight deposits at Consorsbank are secured by the deposit guarantee fund up to a total of EUR 120 million per customer. Therefore, parents do not have to be afraid that their child’s savings will be lost if the bank goes bankrupt. Price losses such as those known from shares, for example, are not possible with a call money investment. The paid-in money is therefore retained in any case.