No, parents do not need to download separate apps again to open an investment account for their kids on Stanbic IBTC or InvestNaija. They can usually manage this through the existing app by creating a custodial or linked account. Here’s exactly how it works for each platform:

1. Stanbic IBTC Investment App

Key Points:

If you are already a Stanbic IBTC customer with the Stanbic IBTC Mobile App, you can open a kids’ investment or savings account directly from the app.

The bank treats this as a parent/guardian account opening for a minor.

How to Open a Kids’ Account:

Log in to your existing Stanbic IBTC app with your credentials.

Navigate to “Savings & Investment” or “Open an Account” (the exact menu may vary by app version).

Choose the Kids’ Savings/Investment option (e.g., CHESS Account or Investment Account for minors).

Provide your child’s details:

Full name

Date of birth

Birth certificate

Parent/guardian BVN and ID

Complete KYC & Verification:

Upload the required documents using the app’s document upload feature.

Make Initial Deposit (usually a small amount, e.g., ₦1,000–₦5,000).

Confirm & Activate Account. The account is linked to your existing app login, so you can manage both your investments and your child’s from the same app.

✅ No need to install a separate Stanbic app.

2. InvestNaija App

Key Points:

InvestNaija does not offer separate minor accounts under a child’s name.

Parents use their existing adult account and invest on behalf of their children as a custodian.

How to Set Up a Child’s Investment:

Log in to your existing InvestNaija app.

Create a new investment goal specifically for your child. Examples:

“Education Fund”

“Future Savings”

“Gift Investment”

Fund the goal using your linked bank account or wallet.

Track the investment separately in the app.

When the child reaches maturity (usually 18+), you can transfer or redeem the funds for them.

✅ No new app installation required.

✅ This approach uses your existing account as a custodial account for the child.

Summary Table

Platform

Separate App Needed?

How Kids’ Investment Works

Stanbic IBTC

❌ No

Open a kids’ account (e.g., CHESS) within your app. Child has own account linked to parent.

InvestNaija

❌ No

Parent creates an investment goal for the child in their existing account (custodial arrangement).

💡 Tip:

On Stanbic, the child gets their own account number and can earn interest or invest in funds.

On InvestNaija, you control the account but can label it clearly as your child’s goal to keep finances organized.