In January 2018, AMFIE launched the 0-18 savings account dedicated to children. Funds placed on the account are blocked until the beneficial owner turns 18.
The account offers preferential rates compared to the savings account in 7 currencies and the AMFIE Flexible term deposit account. The current yields in 6 different currencies have not been changed since they were voted by the board in December 2017, despite the steady decline in bond rate yields.
0-18 savings account holders can open an AMFund, Funds investment savings plan.We have currently a hundred 0-18 savings accounts open, with assets reaching one million euros. The members who are saving for their children are depositing both with standing orders or ad hoc deposits.
Grandparents interested in opening an account for their grandchildren and offering them capital will need to have the legal representatives of the child or children open an AMFIE account (if not already done), because only they are authorized to open a 0-18 account.