Children and young people

Envision the future, whether your goals are big or small, short-term or long-term.

Welcome to Íslandsbanki

You will need an electronic ID or other valid ID to open an account. This includes passports, identity cards or driver's licenses. PLEASE NOTE that a digital driver's license is NOT accepted as a valid ID.

Anyone 12 years or older can open an account themselves.

Using electronic ID

You can open an account using an electronic ID from the age of 12.

When you buy a product, we automatically create access to online banking and the app if you don't already have it. We want to make it easy for you to manage your account online.

Anyone over the age of 13 can make contactless payments.

    Welcome to Íslandsbanki

    Anyone over the age of 12 can open an account themselves.

    Without electronic ID

    Just bring a valid ID to one of our branches, and we will assist you.

    If you are 12 years or older, you don't need to bring a legal guardian.

    Our branch advisers are here to help.

      Book an appointment

      Legal guardian opening an account

      Any legal guardian can open an account for a child in their care by sending an inquiry, visiting a branch, calling the Contact Centre or contacting us via online chat.
      The child and guardian must bring a valid ID if they visit a branch.

        Welcome to Íslandsbanki

        Activating a card for children under the age of 18

        A legal guardian or the child can activate a card intended for someone under 18.

        There are several ways to activate a card for children under 18:

        • Call us and confirm your identity using an electronic ID.
        • Chat with us online and confirm your identity using an electronic ID.
        • Visit us at one of our branches and bring a valid ID.
        • Use the child´s app or online banking option to activate the card and access the PIN.
        • Send us an authenticated request through the Bank's website. Send request


          0 yrs

          Savings in funds

          Using multiple savings options is a great idea. It can help you increase your returns and distribute risk. You can look at the options here.

          More info on children's savings

          Future Plan

          • This option is ideal for individuals who are interested in long-term savings for children and young people. It is an ideal gift from grandparents, aunts, uncles, siblings and friends.
          • Children can receive a copy of the book Little People, Big Dreams by depositing into a Future Plan or other account at the nearest branch.

          More info on Future Plan

          2 yrs

          George and friends

          George is a children's app that teaches numbers, letters, and time-telling.

          More info on George

          9 yrs

          First card

          Parents and guardians can apply for a card for their children starting from the age of 9. Debit cards for 9-18 year olds have no annual or transaction fees.

          Electronic ID

          Individuals under the age of 18 can receive an electronic ID with the consent of their guardian.

          Apply for an electronic ID for an individual under 18 (on the Auðkenni website)

          Online bank and App

          The online bank and bank app are accessible to children from the age of 9

          13 yrs


          At the age of 13, children become eligible for Íslandsbanki's Friða benefits program, which offers discounts on various products and services.

          App and contactless payments

          Anyone over the age of 13 can make contactless payment.

          14 yrs


          • Everyone of confirmation age depositing 30,000 or more into a Future Plan Account or Fund will receive an ISK 6,000 contribution from us. Every child who has reached the age of confirmation is eligible for a confirmation contribution, one for depositing into the Future Plant and one for depositing into a fund, a total of ISK 12,000.
          • We encourage parents or guardians to work with their children to set both short-term and long-term savings goals.

          More info

          First job

          • Start saving for the things that matter to you by setting money aside each month. Be prepared for those unexpected costs. Open a savings account and worry less about the future.
          • Regular savings are an effective way to save money - a set amount is automatically transferred to another account, helping you build a reserve without even noticing.

          More info about that first job

          16 yrs

          Private pension

          • Anyone 16 years or older, in full-time or summertime employment, can apply for a Private Pension Plan.
          • The guardian(s) must sign a private savings agreement.
          • You can use your Private Pension Plan to help you buy your first property later on.

          More info on private pensions