Electronic ID is personal identification used in electronic transactions. They are a simple and secure way of logging in to online banking and are used to sign documents electronically online. Electronic signatures have the same legal value as handwritten signatures.

Electronic signatures are stored in the SIM cards of mobiles and are easy to use as you only need a mobile and a PIN you choose when activating the ID.

To apply for a card and bank account online, you need electronic ID. You can always make an appointment at a local branch to get electronic ID.

It’s possible to confirm guardianship of minors under 18 years of age on mitt.audkenni.is if an underage customer wants to activate their electronic ID without a guardian present.

If the minor owns a current account, the guardian or customer who is 13 years or older can get a debit card by contacting the Customer Service Centre or making an appointment. Plus cards or pre-paid cards are also available for persons 16 years of age and older.

We recommend getting Landsbankinn’s app to monitor the balance of the card.

Financial decisions are an important part of everyone’s lives regardless of age. We’ve compiled an overview (in Icelandic) of rules that apply to management of the finances of minors.

You can create bank account in online banking for kids who are under 18 years of age if they are registered under your family ID number. If the due diligence questionnaire for the child has been completed, those questions will come up automatically in online banking when the account is being created. As only guardians may be provided with information about minors’ bank accounts, newly created account do not appear in the online banking account of the person creating the account as information about guardianship is not encoded in the family ID number. The account number will appear immediately under Favourite recipients in Domestic transfers in online banking. The Customer Service Centre assists guardians to get access to the account in online banking.

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Non-financially competent individuals have access to all their bank accounts and payment cards in online banking and the app.

Parents or other legal guardians are the financial guardians of minors, according to law. We source information on legal guardianship and relations from the digital database of Registers Iceland to ensure that the Bank has accurate information at each time.

Legal guardians automatically get view access to the bank accounts of minors in their charge and this access is automatically revoked when the child turns 18. This view access is default and cannot be revoked.