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Kids Accounts Terms and Conditions

Last updated: 26 November 2025

It’s great you’re setting up a Sharesies Kids Account. There are some things for you to know and agree to before you get started.

When you apply for or use a Kids Account you agree to follow and be bound by:

You should read and understand these Kids Account T&Cs and our Terms of Service as they apply to Kids Accounts. 

1. Bare trust

Kids Accounts can be opened for people under 18 years of age. A Kids Account is a separate Account in your name (as trustee) for investing money on behalf of a child.

By applying for and creating a Kids Account you confirm your intention to set up the Account as a bare trust. The child named is the beneficiary (the “beneficiary”) of the Account. You'll be the trustee and administer the Account for their benefit.

All money received is a non-reversible gift to the beneficiary, and no one else will retain the beneficial interest of that money. 

You acknowledge and understand that you can only use the Account or withdraw money for the sole benefit of the beneficiary.

You acknowledge and understand that we are not responsible for monitoring how you deal with the money and investments in relation to the bare trust account.

You acknowledge and understand that we make no promises (representations) regarding the suitability, specific tax consequences, or the legal rights or obligations related to any person connected to the Account.

2. Transfer

You acknowledge and understand that:

  • at the transfer date, the beneficiary will be entitled to the money and investments in the Account upon request;

  • by default, the transfer age for the beneficiary is set at 25 years old;

  • you can change the transfer age to any age from 18 to 25 years old under 'Account' in Sharesies;

  • once they reach their transfer age:

    • you can no longer adjust the transfer age for the beneficiary;

    • the beneficiary can request to take control of the Account without your permission. We will convert the bare trust account to an Account in their own name; and

    • if the beneficiary does not want to take control, you can continue to operate the bare trust account for their benefit.

3. Fees

When you open a Sharesies Kids Account, you agree to the fees set out in our Terms of Service. See our website for full pricing details.

4. Your obligations

You will make sure:

  • tax returns, filings, and payments are made for the Account if required; and

  • the information you provide (including for the beneficiary or anyone else) is complete and accurate and you notify us straight away if this changes.

You acknowledge and understand that you may be contacted by us and asked to provide further information about the beneficiary, or anyone else who funds the Account and you agree to provide such information as required.

Sharesies may limit or suspend access in accordance with our Terms of Service. The trustee will indemnify Sharesies for any losses resulting from the misuse of the Kids Account. 

You must ensure that you have the necessary permission to provide us with information about the beneficiary or anyone else, and that we may collect, use, and disclose that information for the purposes described in our Terms of Service. This includes verifying their identity.

5. Authority

You agree that if you allow the beneficiary to access and/or use the Account before the transfer date, you are solely responsible for the consequences of their actions as if they were taken by you.

If you are no longer able to act as trustee, (including due to incapacity), you or your legal representative must notify us as soon as practicable. We may suspend or restrict access to the Account until a replacement trustee is appointed and verified to our satisfaction. Any replacement trustee must agree to these terms and be approved by us before taking control of the Account. In the event a replacement trustee is not appointed and verified to our satisfaction the Account may be closed in accordance with our Terms of Service.

6. General

Throughout these terms some words are in capitals—e.g. Account. These are words with defined meanings. Unless we state otherwise, you can find the meanings of these words in our Terms of Service. If there is any conflict between these terms and our Terms of Service, these terms will win out (prevail).