Child Account

What is a Child Account?

A Child Account is essentially a full Franc account in your child's name but managed by you as the parent or legal guardian. It gives you full oversight of the account until your child turns 18, when they become the legal account holder.

How it works

• You create and manage the account through your Franc profile.
• The account is in the child's name, but all deposits, withdrawals, goals and settings are handled by you.
• Once the child turns 18, they assume control of the account.
• You can create a dedicated Investment Goal in a Child Account (e.g. education or first car) or invest in a Franc Tax-Free Savings Account or Savings Account within the account.

Opening a Child Account

To set up a Child Account, you'll need:

• Your child's birth certificate or identity document
• A copy of your own ID or passport (if you're not yet verified)
• Your proof of residence

Any Franc user (Starter or Pro) can open a Child Account for their child or dependent.

Why invest in your child's name?

Investing in your child's name can be a smart way to start building their financial future early. Not only does it create a long-term asset for their future – whether for education, a car, or their first home – it can also offer estate planning and tax benefits.

It's also a powerful way to teach children about money. As they grow older, you can show them the value of long-term investing, goal setting, and financial responsibility through their own account activity.

A few things to note

• While you manage the account, the assets belong to your child.
• Deposits count toward your donations tax threshold if you're gifting more than R100,000 per year.
• Withdrawals are possible, but reducing the balance too often could limit long-term growth.
• It's worth planning how and when you'll hand over control when your child turns 18.

Franc's Child Account makes it easy to start investing on your child's behalf with no financial jargon or complex admin required.