No – there are still some fees which may be applied.  Often kids’ accounts have no account-keeping or monthly fees and no fees for standard transactions.  However, fees may be charged to provide a debit card, if a certain limit on withdrawals is exceeded, if the account is overdrawn, or if ATM or EFTPOS transactions are made overseas.  It’s worth checking the conditions of your child’s account so both of you are aware of any transaction or withdrawal limits and the fees which may apply.  Compare offers with Savvy today.