Cash card accounts for kids

[PamDenick]

Hello. Can anyone advise me. Now that we are an almost cashless society I want to get my DCS (15 and 12) an account that they can use for bus fares, treats etc. Preferably one that they can pay cheques into without visiting a branch IYSWIM.
I looked at Apple Pay but apparently the lowest age is 12.
Has anyone experience of Go Henry or Rooster or is there anything else out there?

DS has a FlexOne account through the nationwide. You can pay cheques in online but you do have to open the account in branch. They can have either a cash card or a debit card and you can open the account at 11 I think.

We opened a Halifax one aged 13. You can pay cheques in online, they get a card etc. It was just easier as we are with them.

Their friend and my nephews have a Monzo account but dont know much about that system.

Oh, that's useful to know. Can I top it up without visiting a branch if I need to?

Can you use cash cards on the bus now?
If not, try a Swift card.

I top up my DCs' Halifax account online. Had to set it up in branch, but then we set up.online baking for them and haven't had to go instore once, not even for cheques.

Go Henry is expensive. DS has a NatWest 11+ account with cash card and DD has a Santander 11+ year with cash card. Both good.

Take a look at this - lots of info

www.moneysavingexpert.com/banking/cards-for-under-18s/

We have the nationwide one. I pay their pocketmoney in via standing order, they have a linked savings account that they control. It's very easy to freeze the card (they regularly misplace it in their rooms) via the app which is fingerprint controlled on their phones. All good.

HSBC do a children's current account that comes with a debit card from age 12. Both my DS have accounts there.

Sorry, meant to add that you can pay cheques into hsbc via their banking app.

Thanks OP as this is making me think about a new account.
Mine just comes with a cashcard and not a debit.

The Santander one is up to 3 per cent interest over certain amounts and can be opened onlìne if child over 13.

Pearly, being able to freeze account is very sensible. A friend's child had their card stolen while out.

If you have a monzo account you can put money is a separate pot that they can use their card to spend or withdraw. They wouldn’t be able to use it as a full bank account but as a spending money pot it would work very well.

You also also top it up instantly for the times that they are stuck without bus fare etc. and could transfer any left over miry to savings etc.

We have the Nationwide one for DD just 13 she has a debit card and online banking so we can transfer her pocket money over and she can check her balance. Not sure about paying in cheques but a lot of post offices now offer their service too for paying in for different banks I do my Cheques there for HSBC

Sorry it’s revolut not Monzo, monzo allows one card, revolut allows three.

If you just want them to have access to their own debit card, just get one of the young person's bank accounts. You can send money to any account instantly or set up a standing order for a regular weekly/monthly amount.

The paid GoHenry accounts don't really offer anything extra unless you really value the features on offer.

Mine have junior santander 123 accounts- just like a normal bank account- can bank online, have a debit card etc. You don't have to pay a monthly fee or anything (like GoHenry) .

Oops posted too soo - I pay a set amount into their accounts monthly as pocket money.

My 11year old has a gohenry, and I regret it now. We mainly used it so he could have his school dinner money and pocket money on it. 2 years down the line it annoys me massively that I'm charged 50p everytime I top him up. So say I transfer him £5.00 for washing my car, it's actually £5.50, and that's on every single transaction/ transfer I give him. Very tedious. I would not recommend it and will be cancelling and getting him a proper account ASAP.

I agree that the fees are disproportionately high given that most people will be working with a few pounds/tens of pounds a month.

50 pence here and there might not sound like much, but it's very high as a percentage of the amount and will also add up if the service is used regularly.

This is all really useful. Interesting to hear about the top up. yes, if I'm just paying in £5 now and then I don't want to be charged 50p. Thanks everyone.
Does anyone have any experience of a Rooster account/app thing? Again there are charges so might be similar to the go Henry...

I have just opened a Santander 123 account for DD. Had the best interest rates that I could see so hopefully will teach her a little about saving.

@pamdenick sorry posted too soon.

Also has no charges (until you get to transferring money abroad) and no minimum monthly amount to be paid in. We tried go Henry some years ago but just too expensive.

Mine all had gohenry cards, we didn’t mind paying the monthly fee and did a monthly direct debit so didn’t get charged other fees.
The older 2 are 11 and 13 and now have Lloyd’s accounts. They have debit cards and online baking via the app. Can freeze the card on the app if they lose the card etc (they haven’t but I didn’t it when I went away for the weekend and thought I’d lost my card, luckily it was still at home but was much less faff being apple to freeze and then unfreeze it rather than having to cancel and wait for a new card!!)

My niece has just got one and was shocked when I told her she can use it to buy the ice creams next time we are able to go out.

Dd (10) has a GoHenry card, i don't mind paying £2.99 a month for it. I just send her one payment a month that I dont get charged for.

I only have a building society account, and dd can't get a card account there until she is 16 I think. :/