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At a Glance
My Account is the first deposit account that you can customise to meet your kids’ growing needs.
Get advice from dads Allan Wu and Shiekh Haikel on how they get their kids started on good saving habits, with the help of POSB My Account, and digital tools such as POSB Smart Buddy and PayLah!.
Everything you need to get them started
- Available to customers of all ages
- Earn daily interest every month
Add on more as your child grows
- Activate banking services anytime, anywhere.
- Link My Account with your child’s Smart Buddy. Instantly transfer allowance, manage your child's finances and let your child develop saving habits, all while on the go.
- Just scan and PayLah! to get rides, book shows, order food, and pay bills, and much more!
- Shop online and spend abroad at preferred rates, when they need it.
- As your child grows, their banking needs grow too. You have the option to convert your My Account to a Multiplier Account to earn higher interest – up to 3.8% p.a.!
Banking at your fingertips anytime, anywhere
- Easily access over 150 banking services with digibank on the go.
Personalise a special nickname for your joint account with your child
- Set a special nickname for the account that belongs to both of you? You can now do so via digibank and see your chosen nickname displayed on your account’s statement.
How It Works
One account, everything your child might need.
The only account for your child and their growing needs.
- No minimum balance
- No minimum age
- Earn daily interest
- Online banking
- Island-wide banking services
- Account name personalisation
My Account for your little one.
My Account functions as a joint account, allowing you and your child to manage it together.
Growing their savings
- S$1 gift deposit1
When it’s time to get them started.
- No coin deposit fee2
So they’ll be able to save more.
Cool for school
- Complimentary POPULAR 1-year student membership3
Perfect for when they start school.
- POSB Smart Buddy
You’ll be able to link it to your child’s account to automatically save their unutilised pocket money.
- Gift deposit for anyone below 21 years old.
- Waiver is limited to first 1000 pieces calendar month at the coin deposit machine until the child turns 16 years old.
- For child age below 16 years old at the point of account opening. The redemption email will be sent to eligible customer registered email within one week of account opening.
The one account that grows with your child.
With My Account, you can add and customise features to ﬁt your child’s growing needs.
For family trips
- Enjoy instant cashback
When your child is old enough to charge to their DBS Visa Debit Card overseas.
- With multi-currency capability
Your child can exchange and store up to 13 currencies.
Day-to-day for your child
- With PayLah!
Your child can order meals, take rides, shop easily. This is the app that lets them do it all!
It’s their choice
Keep a record of the account’s transactions easily, with either hard copy or e-statements.
Set a personalised nickname for your account, and it will also be printed on your statement!
Eligibility & Requirements
- No age requirement.
- No initial deposit required.
Fees & Charges
|Account Fee||S$2 per month1 |
(With paper statement)
1 Account fee is waived for customers up to 16 years old or account on eStatement.
Please refer to the Deposits Guide for the list of applicable fees.
My Account for your child
For existing POSB/DBS account holders, you can apply for a joint alternate My Account with your child online. Applicable to children below 16 years old.
Please prepare the following required documents prior to your application.
Open My Account for yourself today
Or opt for a new joint-alternate My Account
If you would like to apply for a joint-alternate My Account with another applicant above 16 years old.
For application via webpage, please prepare the required documents prior to your application.
With you at every step of your parenting journey
Raising a family is never easy, whether you have a toddler, teenager, or both. Explore a world of parenting content and tips at POSB Home, from helping your child make sense of money and enrichment, to holiday and financial planning for the family.
Join Our Online Community
Take the next step and be part of an awesome and supportive community with like-minded parents. Learn a tip or two when you participate in discussions focused on money management as a family in this digital age.