Open a savings account for children?
Many people still know the classic one created by parents passbook. Stored at home, the parents took the book and went to the Sparkasse or Volksbank to deposit money. The savings book provided the first small start-up capital.
At the age of 16 or 18, the children gained access as pupils or trainees and were happy about the first credit. Today we refer to the overnight accounts as a savings account. That is quite legitimate because the Time savings concept the focus is on a child-safe account.