Retail | Accounts Close Menu

Accounts of Minors

An Account that can be created and managed by mothers, Accounts that can be created are limited to Current, Saving and Term Deposit Account

Service Features

  • Powers of administering the account by the mother shall be limited to:
      - Withdraw and deposit cash
      - Issue of limited powers ATM card for withdraw and deposit purposes only
      - Issue fixed payment orders
      - Transfer from other’s account to minor’s account

  •  A mother may close the account or withdraw balance if the minor has not reached the legal age
  • No powers of attorney are accepted from any type whatsoever in this respect
  • No way to open joint account in name of more than one minor
  • No cheque books will be provided
Service Terms & Requirements

  • Valid and approved ID for individuals
  • Bring the documents as provided for in procedure manuals
  • A client is not suspended to deal with.

The IBAN has been generated according to the correct Housing bank account number you have entered. Housing banks will not be held liable for any damage or loss of any nature resulting directly or indirectly from entering an incorrect or an invalid account number.