Children's savings accounts

[twosoups1972]

Want to open a savings account for 12 year old dd that's separate from her normal bank account. She has some savings to put in and hopefully earn a bit of interest.

Does anyone have any recommendations please? A lot of accounts require you to pay in a regular monthly allowance which she doesn't want to do.

www.moneysavingexpert.com/savings/child-savings-tax-free/

I'd open two.

One being stocks and shares isa

Depends if they want access to the account as it would be a junior ISA for that age which you cant withdraw from

We have a stocks and shares ISA for the children. You have to take the longer view as obviously things can vary up/down in the short term. DD has earned significantly more interest than her regular kids saving account though.

Another vote for opening both a cash savings account and a stocks & shares JISA. Latter is obviously most relevant if you're (she's) in it for the long haul rather than just a couple of months.

That's why I'd open two.

She already has one, and wants to earn interest.

So have an interest one, which won't be that great but that she can save in I assume for stuff she wants, in addition open up stocks and shares isa where 'some' money can go.... And she can learn to manage it and learn the long game, the beauty of having different rows of savings....