Your Kids Investment Account is theirs, and all money deposited into the account is considered a gift to them - an investment in their future. One of the biggest joys of Kids Accounts is they really maximise time in the markets, and the magic of compounding returns that does along with it.
However, there are two situations where you may want to withdraw money:
- When your child is between 18 and 25 and you decide to transfer their shares to them. In this case, they’ll simply set up their own Hatch account and get in touch to transfer the shares from their Kids Account into their new individual account. We’ll need both of you to agree to the transfer until they turn 25, then it’s over to them.
- If you want to take money out of Hatch before they hit adulthood (but why would you! This is their future!), you just withdraw it in the same way you do from your individual account. The only difference is that because the money is theirs, it needs to be withdrawn to their bank account.
Opening Kids Accounts
- Does Hatch have Kids Accounts or portfolios?
- Who can open a Kids Account?
- How do you open a Kids Account?
- How many Kids Accounts can I create?
- Can I move money/shares from my account to my Kids Account?
- How do I create a Kids Account if I don't have a New Zealand birth certificate or guardianship order?
Using a Kids Account
- Who will manage my Kids Accounts?
- Who can deposit money into a Kids Account?
- Can children get $10 NZD top-ups for referrals?
- What will happen to my Kids Accounts when my child turns 18?