Business account for <18

Good evening,

My son is turning 16 years old next week. He is a videographer and will register soon so he can send his clients invoices. To register is easy but opening a business bank account not so much? Is it possible with Revolut? We are living in the Netherlands

I send an e-mail but no response yet.

Kind Regards

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I would be surprised if any online bank would want to deal with this.

Minors would need their parent’s / guardian’s allowance to “trade”. That’s a difficult regulatory situation for a financial service do deal with. Traditional banks are more flexible. Remember, the <18 account is not in the name of the minor, it’s a sub account in the name of the adult who opened it. That’s the “trick” Revolut is applying to offer <18 accounts in a large number of regions, to avoid regional regulatory requirements to some extend.

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Hello @VeerB Welcome to the community. :wave:

To open a fully operational account, you must be 18 years of age or older.

If you’re under 18, the <18 revolut account requires parental or legal guardian supervision. In other words, it’s not fully independent and some features may be restricted.

Thank you @Frank for helping out. :star2:

Veda | Community team

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Thank you for your reply. I have no problem with being a guard. I would be happy to and that was the plan even if it would be possible to register on his name.

Next Question would be: is it allowed to have business transactions on this account? He has a private account for himself so the account with revolut (with me as a guardian) would only be used for business transactions.

Kind Regards

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Hello @VeerB :wave:

Your child can send payments to other Revolut <18 users with the same base currency. However, they can’t send payments to customers on the adult app or receive regular bank transfers. :pray:

Veda | Community team