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Can other family members such as grandparents or godparents open a child account?

No - the account must be opened by a parent or guardian. As soon as the account opening is completed and the parents have made an initial deposit, relatives, friends and acquaintances of the child can also pay into the child's account. In this case, the deposit also flows directly into the child's or young person's account and forms tied, i.e. legally protected, child assets.

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