It's fairly common around the world that minors can and do own bank accounts - usually tied to a guardian but the money is nominally 'theirs'. My 3yo niece has

It's fairly common around the world that minors can and do own bank accounts - usually tied to a guardian but the money is nominally 'theirs'. My 3yo niece has about 2000AUD in her bank account, from various gifts through her short life so far.