- Definition
- Parent (s) / Legal Guardian (s): The legal representative(s) of a person under the age of 18 years.
- Minor: A person who has not attained the age of 18 years.
- Minor Account: An account opened by the Bank at the request of the Parent(s) / Legal Guardian(s) for the benefit of the Minor.
- The Bank: Aruba Bank N.V.
Product Terms and Conditions
Minor / Student Account
This Product Terms and Conditions is an add-on to Aruba Bank’s General Terms and Conditions and provides additional information to our Minor / Student Account.1. The Minor Account is limited to persons between the ages of 12 and 17 years.
2. The account is in the Minor’s name.
3. Overdraft facilities are not allowed on the Minor Account.
4. The Parent(s) / Legal Guardian(s) is/are jointly and severally liable for the fulfillment of all obligations of the Minor to the Minor account.
5. The Parent(s) / Legal Guardian(s) of the Minor, has/have granted permission to the Minor to perform all acts concerning the Minor Account (s).
6. The Parent(s) / Legal Guardian(s) indemnify(ies) the Bank against all consequences, by whatever name, of the (legal) acts performed by the Minor.
7. The Minor shall have control over the Minor Account, but the Parent(s) / Legal Guardian(s) of the Minor may still require the Bank to provide details of balances, movements in the account, and other account information.
8. It is not possible to grant a proxy to another person to perform acts on the Minor Account.
9. These terms and conditions do not relieve the Parent(s) / Legal Guardian(s) in any way from his/her/their liability, if any, for whatever reason, in respect to the acts of the Minor.
10. Upon reaching the age of majority (18 years) the terms and conditions for the Minor Account will no longer apply and he account holder will be offered banking services suited to his/her age and needs.
11. The Bank may amend these terms and conditions with advance (electronic) notice or through our online platforms or website.
12. The Bank’s General Terms and Conditions, as they are changed from time to time, are, in addition to these terms and conditions, applicable at all times.