From July 1, banks will begin to provide parents, adoptive parents, and guardians with information about the accounts and deposits of minor clients aged 14–18. Amendments to the law "On Banks and Banking Activities" are designed to prevent fraudulent schemes and ill-considered spending that harm teenagers.
To confirm the authority of a legal representative, credit organizations will be able to use data from the state information system "Unified Centralized Digital Platform in the Social Sphere". If digital information is not available, traditional documents such as a birth certificate, adoption certificate, or an act of the guardianship authority will suffice.
This is not about interfering with a teenager's personal space, but about the ability to respond promptly to potential risks associated with financial fraud, ill-considered expenses, or the involvement of minors in illegal schemes.
The only exceptions will be those who have acquired full legal capacity before the age of 18 – through marriage or emancipation.
Previously, parents were not always able to find out about their child's financial assets, while teenagers actively use cards, payment services, and digital tools. The new procedure closes this blind spot, balancing the protection of property interests with the right of fully legally capable citizens to independence.
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