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Junior Wizard Savings Account

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GringottsJuniorWizardSavingsAccounts

An advert for Junior Wizard Savings Accounts from the Daily Prophet.

"The value of investments may go down as well as up and the child may not get back the full amount of any additional contributions."
—The small print on a Daily Prophet ad about Junior Wizard Savings Accounts.[src]

Junior Wizard Savings Accounts were accounts run by Gringotts Wizarding Bank that pay interest but cannot be used directly. These accounts let underage wizards set aside a portion of their liquid assets while earning a monetary return. They could be set up from just one Sickle. Savings were free of the Hexing Tax of up to three-thousand Galleons each tax year.[1]

There were ads for these Junior Wizards Savings Accounts on the Daily Prophet in the mid-1990s, with text in small print warning about the risk of losing money as the investments lost value.[1]

Appearances

Notes and references

  1. 1.0 1.1 Harry Potter Limited Edition - A Guide to the Graphic Arts Department: Posters, Prints, and Publications from the Harry Potter Films

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