Difficulty
Right at the start, we want to point out that for most clients, nothing changes in the investment strategies, the portfolios or the way the app works. The changes mainly concern the upcoming Children’s Account product with a reduced fee. Some of them (e.g. the fee reduction) will, however, also affect existing accounts held in a child’s name. If your child has such an account, we recommend that you read the section on Children’s Accounts.
In addition, we are amending the rules for rejecting and returning payments and for onboarding clients with ties to countries outside the European Economic Area. You will find a detailed explanation of these below.
If you agree with the changes, you do not need to do anything. The new GTC and Price List will automatically begin to apply to our contractual relationship on the date they take effect (that is, December 1st, 2026).
The Key Changes at a Glance
Children’s Account
We will enable legal guardians to open a new type of product, the Children’s Account, for a child under 18. As part of the changes, we have refined the conditions for opening and maintaining Children’s Accounts. We are also introducing a preferential portfolio management fee for them of 0.5% + VAT per year. The preferential fee will apply to every Children’s Account held in the child’s name. If you open an account for your child with the Calm Investing strategy, the fee of that strategy will apply, which is lower. Once the child turns 18, the preferential fee ceases to apply and is replaced by the standard fee under the Price List.
Rejection and return of payment
We may reject or return a payment, particularly if customer due diligence has not been completed (for example, identity verification). Exchange rate differences, currency conversion costs, bank fees and other related costs of the return are borne by the sender, unless the return was caused by an error on Finax’s part.
Client onboarding
We explicitly stipulate that Finax assesses at its own discretion whether to establish or maintain a business relationship, and that in certain cases, including, among others, ties to a country outside the European Economic Area, additional conditions may apply.
Business Day
We carry out purchases and sales in portfolios on the Business Day, which we determine according to internal rules. At your request, we can also carry out a sale outside this day for a fee according to the Price List. In practice, trading has worked this way for quite some time, and nothing changes in that regard. With this change, we are merely defining the process in more detail directly in the GTC.
Children’s Account: Changes and News
A Children’s Account is an account held in the name of a child under 18. The securities in it are registered directly in the child’s name. The account is opened and managed by a legal guardian, who must have completed identification and identification verification with us. A parent proves their authority to represent the child with the child’s birth certificate, and a guardian with a court decision or another official document. One or more Children’s Accounts can be opened for one child.
An account that was opened in a child’s name before December 1st, 2026, is also considered a Children’s Account. The reduced fee will apply automatically to these accounts from the beginning of December.
The Children’s Account will be available to clients with permanent or habitual residence in Slovakia, Czechia, Croatia or Poland. The preferential fee will apply to every Children’s Account held in the child’s name, and the entitlement to it ends when the child reaches the age of maturity.
As part of the ordinary management of the child’s property, a legal guardian may open a Children’s Account, deposit funds, choose and change the investment strategy, and move funds between investment accounts. Acts that go beyond the ordinary management of the child’s property may require court approval under the applicable law. The person opening the account is responsible for ensuring that every act on the Children’s Account falls within ordinary management or that the necessary approval has been obtained and will prove this at our request.
Withdrawals exceeding €1,000 per calendar year cumulatively, across all the child’s asset accounts (including pending withdrawals, at the gross cumulative amount), will require the written consent of both legal guardians with signatures certified by a notary or verified by our employee, and the original of the signed request.
If the child is at least 15 years old, the consent of the second legal guardian may be replaced by the child’s written consent verified by our employee. The time limit for processing a withdrawal runs only from the receipt of the necessary documents.
Please note that the withdrawal limit of €1,000 per calendar year also applies to existing Children’s Accounts and will apply to withdrawals made from December 1st, 2026.
We can only send funds from a Children’s Account to the bank account from which they were received, provided it is held in the name of the child or of the legal guardian who opened the account.
If the child has turned 15, we may, as part of ongoing verification, ask for their valid ID card to be uploaded. When they turn 18, all entitlements to the Children’s Account pass to them and the legal guardian’s authority ceases. The child will then be able to handle the assets like an adult.
You will learn more about how Children’s Accounts work when this product, which we are gradually working on, is officially launched.
Your Rights
If you do not agree with the changes to the GTC or the Price List as a consumer, you have the right to terminate the contract free of charge and with immediate effect from the date the new GTC are published by November 30th, 2026.
If you do not terminate the contract within this period, you are deemed to agree with the changes, and from December 1st, 2026, our contractual relationship is governed by the new GTC and the Price List.
Where to Find the New Documents
The full text of the new GTC, Annex No. 1 and Price List can be found at www.finax.eu and at the registered office of Finax, o.c.p., a.s., BC Rosum, Bajkalská 19B, 821 01 Bratislava. If you have any questions, write to us at [email protected].
Thank you for your trust. We believe these changes will allow us to bring you even more advantageous and safer services.
