Can grandparents or others pay in?
Paying in, yes; opening, no: only your child’s legal guardians can open a children’s account – usually both parents with custody together; with sole custody, that parent alone. Grandparents, godparents and friends can then pay in any time by bank transfer or standing order – you give them the IBAN, and they don’t need access to the account. Gift tax only applies above the tax-free amounts: €400,000 per parent and €200,000 per grandparent, each covering all gifts to the same child over ten years. It counts per giver – so mother and father have €400,000 each, and every grandparent €200,000. If the parent who links grandparent and child has already died, that grandparent’s tax-free amount is €400,000 too. Everything that person gives within those ten years counts, not just payments into the account. Normal savings amounts come nowhere near it. (As of 2026)
Frequently asked questions
What are ETFs (index funds)?
In recent years, exchange traded funds (ETFs) have established themselves as an alternative to open-ended, actively managed investment funds. An ETF replicates a given index as precisely as possible and adjusts its composition to match its reference value.
For example, when you buy an MDAX ETF, you get all the stocks in the MDAX in exactly their current composition on the market. If the composition of the MDAX changes, the composition of your ETF changes too.
As a result, the management and administration fees for an ETF are significantly lower. On average they amount to 0.17 percent of the invested sum per year. If a fund manager actively looks after your investment funds, the costs rise to 1.5 to 2.5 percent per year.
What does Global Portfolio mean?
If you opt for our Global Portfolio, you invest across the entire market. From the risk you are willing to take, we derive the composition of your portfolio. More equities mean more risk – but also more return opportunities. More bonds reduce the risk – but also the return opportunities.
The Global Portfolio is generally suitable for building wealth. You can also take it out in a sustainable variant.
How does account opening work?
First, you register via “Open account” on our portal. To do so, you sign up with your email address and a password of your choice.
You then receive a PIN code by email to verify your email address. Once you have entered this PIN code, your personal details, contact details and ID details are recorded.
Finally, you have the choice between identity verification in the quirion app, on your computer, or at a Deutsche Post branch. Your quirion account is then opened for you without delay.
How does online video identity verification work?
quirion has to be certain that you really are the person for whom the account or the securities account is being opened.
For banks, the German Anti-Money Laundering Act requires an identity verification check.
With quirion, you have the choice:
You can verify your identity by VideoIdent, in the quirion app or on your computer.
You can also use the online ID function (eID) of your identity card, or verify your identity with PostIdent at a Deutsche Post branch.
For this you need a valid identity card or your passport plus proof of address (e.g. a phone bill).
The easiest way is to verify your identity with our app.
Once identity verification is complete, we receive your data and can then open your account.
- Investing money for your parents
quiPedia · 4 min
- Someone who loves solving problems for others
Blog · 5 min
- Leveraged ETFs: not for building wealth!
Blog · 4 min
- Investing 100,000 euros: the best way to go about it
quiPedia · 4 min
Still unsure?
If the AI cannot help you, write to us. Then a person from our customer service answers you.
