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Old 28.12.2009, 19:45
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Where should I open a bank account for my kids?

Which banks/building societies offer the best children's accounts in Vaud? Also, is it true that children pay 35% tax on interest?
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Old 28.12.2009, 20:04
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Re: Where should I open a bank account for my kids?

Yes, kids pay 35% tax on interest, and you can claim it back for them I believe.

Which is best, there all as bad as each other. All will offer free accounts up until their 18, and then will start to **** them for the next 65 years of their lives as banks do ...
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Old 28.12.2009, 20:26
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Re: Where should I open a bank account for my kids?

Postbank has locations almost everywhere!
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Old 28.12.2009, 20:37
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Re: Where should I open a bank account for my kids?

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Which banks/building societies offer the best children's accounts in Vaud? Also, is it true that children pay 35% tax on interest?
Children's income and assets are added to the parents' income and assets for taxation.
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Old 28.12.2009, 20:47
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Re: Where should I open a bank account for my kids?

My kids have BLKB accounts. My son has turned 18, and doesn't pay charges. It's converted from kid account to student account automatically.

OTOH, we've been paying in money for it regularly for years, so maybe he's got a big enough balance.
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Old 07.01.2010, 11:49
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Re: Where should I open a bank account for my kids?

Kids pay 35% tax on interests? so how about us, i mean grown ups?
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Old 07.01.2010, 13:58
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Re: Where should I open a bank account for my kids?

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Kids pay 35% tax on interests? so how about us, i mean grown ups?
Yep we do too. Just got my annual statement from UBS - 35% on interest straight to the taxman. Who then gives some of it back. Odd isn't it.
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Old 24.01.2013, 14:39
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Re: Where should I open a bank account for my kids?

This thread is old, but I have the same question...
Where to open an account for kids (Basel/Riehen area)? Alas, we are American. Does anyone know how difficult it is for American kids to open an account?
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Old 24.01.2013, 14:44
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Re: Where should I open a bank account for my kids?

try Post Finance, they can deposit and withdraw, free of charge, using the card, at any Swiss post office.

Special interest rates for children, parents claim the tax back.

https://www.postfinance.ch/en/priv/p...ung/offer.html
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Old 24.01.2013, 15:15
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Re: Where should I open a bank account for my kids?

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Does anyone know how difficult it is for American kids to open an account?
Same as for anyone with that passport, persona non grata I'm afraid.
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Old 24.01.2013, 21:31
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Re: Where should I open a bank account for my kids?

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Kids pay 35% tax on interests? so how about us, i mean grown ups?
They - and everyone else - pay 35% withholding tax on interest earned, which is then credited on the parents tax return when the parents properly declare the children's assets and income.

If the parents pay less than 35% tax, the parents should credit the child's account with the different in tax.... and given that most people pay around 20%-ish tax, there would likely always be something to give back to the kids.
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Old 10.02.2013, 20:27
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Re: Where should I open a bank account for my kids?

Just been looking for accounts myself and found that CS and UBS clearly aren't interested in having accounts for under-18s given how unhelpful their websites are in this regard.

Post Finance youth accounts are definitely the best option for small amounts. If you are giving the kids more than 500k to invest though, the big banks will take more interest...
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Old 10.02.2013, 20:37
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Re: Where should I open a bank account for my kids?

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They - and everyone else - pay 35% withholding tax on interest earned,

No longer true, for the past 2 years small amounts of interest have been paid gross.
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