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Original poster

Charge-free bank account for kids?

25 replies

iPud · 03/08/2022 16:02

Looking to set up a bank account for my kids (seven, 11) but appalled at the fees. I have found a couple that don't charge, and will likely go with one of those, but I'm really stunned at 3 quid a month for a card per child, when I don't even pay for my own bank account. Why are so many people signing up to the paying accounts?

OP posts:
edwinbear · 03/08/2022 16:42

I opened an account with HSBC for DS when he was 11 which was the youngest he could have an account with a debit card, no fees for him. DD is still too young (10) but I will do the same for her when she's 11. I couldn't find a 'normal' bank account with a debit card for an under 11 when I was looking. Could have had a Go Henry but like you, wasn't prepared to pay the fees, particularly as DS really didn't 'need' a debit card until he started secondary school and wanted to buy sweets from the shops with his mates.

pinkpixie83 · 03/08/2022 16:46

We've just gone with hyperjar, means the 10 year old isn't the only one without a card. Early days but so far so good. Its more of a pre-pay card than a bank account but does what I need and no fees.

Original poster
iPud · 03/08/2022 21:35

Thanks, probably going for HyperJar too. I just am appalled at the fees for GoHenry etc. Such a shame.- they look great and I like the designs (on behalf of my kids) but 3 quid a month - I am not even giving them MUCH more in pocket money, so to take a chunk off them in fees (or obviously I'd pay the fees, not have it come out of their small sums accounts) irks. I am surprised how few bank accounts there are available. I remember getting set up with my Natwest account as a child - no fees. Now I have to pay the bank for the privilege.
Anyway. Just wondering how people don't get as irked as me. I can afford it, but it grates, and I'd really rather my kids had the extra 36 pounds a year.

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Original poster
iPud · 03/08/2022 21:37

edwinbear · 03/08/2022 16:42

I opened an account with HSBC for DS when he was 11 which was the youngest he could have an account with a debit card, no fees for him. DD is still too young (10) but I will do the same for her when she's 11. I couldn't find a 'normal' bank account with a debit card for an under 11 when I was looking. Could have had a Go Henry but like you, wasn't prepared to pay the fees, particularly as DS really didn't 'need' a debit card until he started secondary school and wanted to buy sweets from the shops with his mates.

this is my thinking - they don't need bells and whistles, just a card to access things when out and about. I also would like to get the little one set up at the same time, really, so it's done. Annoying that so many don't allow for under tens/11.

OP posts:
CornishTiger · 03/08/2022 21:37

We also use Hyperjar.

Simonjt · 03/08/2022 21:38

Another fan of hype jar, I also have one for me with various pots to birthdays, holidays etc, its great.

Cripes · 03/08/2022 21:39

We use revolut, my kids are 7 and 11 and each have one. No fees and can use overseas too with no fx commission

Pixiedust878 · 03/08/2022 21:40

We use Kite from Starling. It’s £2 per month but I like the child app, plus features like spending limits, instant notification when DC spends etc. I can also block / unblock it quickly if the card gets misplaced.

This one appealed to me more than others as there are no additional transaction fees.

Original poster
iPud · 03/08/2022 21:43

Cripes · 03/08/2022 21:39

We use revolut, my kids are 7 and 11 and each have one. No fees and can use overseas too with no fx commission

the overseas thing certainly appeals! Not that we've been anyway since the first lockdown, but hopefully can change that.

OP posts:
MyDarlingClementine · 03/08/2022 21:46

I looked at hyper jar and was on the cusp of getting it but then saw less favourable reviews about money transfers being lost? Then they denied it even when customer sent screen shots.
I think we may still go for it but only transfer really small amounts.

fortheloveofcheesecake · 03/08/2022 21:50

We had gohenry and it was not good with the app not being accessible, transactions not always going through even with money in the account. Not good for a child's confidence when spending their own money and not good for the adults who pay for the service! We switched to Hyperjar and have found it really good. Simple to use and no fees.

sunlight81 · 03/08/2022 21:53

Barclays kids acc for 11y plus work d for my eldest. They still have the same sort code and account number now!!!

Original poster
iPud · 03/08/2022 21:54

I am only thinking small amounts anyway (what's the going rate for pocket money, btw?!).

Interesting two incidences of transactions not going through, for two different companies.

OP posts:
houseofstark · 03/08/2022 21:56

Just choose one with your own bank.

We did (Halifax) and can see the account on our online banking. I think the child needs to be 11 to get a card, but it depends what you're looking for.

Prometheus · 03/08/2022 21:57

We have Halifax for my 11 year old - no fees.

Mordenmum85 · 27/03/2023 20:13

I was looking at go Henry, thanks for your views

BramleyAppleHotCrossBun · 27/03/2023 20:22

My 11 year old has a bank account with Halifax. 11 is the age children can access mainstream banks in the UK.

My 9 year old has a Revolut card. You need an adult account but this is free, you get one free child card for each adult account.

Very happy with both.

BramleyAppleHotCrossBun · 27/03/2023 20:24

I don’t like Hyperjar: I sent them everything they asked for and they never verified me??? Dodged bullet by the sounds of it.

theon · 27/03/2023 22:21

As others have said all the 'proper' banks, that is with premises on the high street, seem to offer current accounts for 11+ with a debit card and with no monthly fee. Its a bit of a fag opening the account - take in birth certificate and parental proof of address but much easier if you are already banking with them.

We did it with Nationwide as we have a mortgage with them - it was just a quick trip to the local branch to sign up and the debit card, pin etc arrived in the post a few days later.

I find it more reassuring going with high street banks as we can call in if there is any problem (and also to keep up footfall - if no one uses local banks they will close)

LunchBoxTeeth · 27/03/2023 22:31

We use HyperJar for our 7 year old. You get notified when they spend money. The app isn't amazing but it works fine. DD loves feeling grown up having a card, especially paying contactless (although, to be honest, she must have only used it twice ever). I really wanted Go Henry or Starting Kite but there was no way I was paying for it. I have the money but I'm not going to pointlessly throw my money away on unnecessary card fees. I was so happy when I discovered HyperJar. We wrapped up the card and put it in her Christmas stocking, she was delighted.

Mordenmum85 · 27/05/2023 16:49

So many mixed messages… don’t know if I should just wait till DS is 11!

Theraffarian · 27/05/2023 16:57

If you bank with NatWest you can open the Rooster app account for them for free and both would get cards . Only fee is if they want to design their own bank card . The publicity for it isn’t super clear , but if you apply via your app it’s all laid out.

Otherwise they have the adapt account which is also free but only from age 11.

shieldmaiden7 · 27/05/2023 17:06

My children who are over 11 have a basic account with NatWest. My youngest who is 10 has a rooster account with them until he turns 11, it's normally £1.50 a month but because I bank with them and so does my husband and older children I have 1 free year. When that runs out I'll have to pay for 3 months until he can get a basic account. I did have gohenry for a while but thought the cost was appalling tbh.

Otherland · 27/05/2023 17:10

I've been pretty happy with Revolut.

Nat6999 · 27/05/2023 17:22

Ds had an account with Virgin, no charges at all, debit card.

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