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childrens bank accounts

4 replies

miaboo · 11/09/2012 20:10

I want to open some bank accounts for my 3 children, they are 3 weeks, 21 months and 5 years old,
I want them to be in their names and easily accessible and if poss accounts where I can make faster payments to their accounts as and when does anyone have any ideas of the best banks where I can apply online for them.

Thanks

OP posts:
skateboarder · 11/09/2012 22:41

I read your title with interest as I am looking for similar for my dc.
I have tried Halifax but they were / are beyond useless.
My friend raves about ybs but I didn't think there rates were that good.

Rockchick1984 · 12/09/2012 00:22

Do you want something where the money is accessible, or tied up until they are 18 (for example)?

I opened a young saver at natwest for DS, couldn't find anything with a good rate but accessible, so went for one that accepted faster payments and standing orders etc, it's held in my name in trust for DS so either me or him (when he's older) can access the money - if the account was simply in your child's name you wouldn't be able to access the money, check balance etc.

InMySpareTime · 12/09/2012 07:42

My DCs have nationwide accounts, They are 30 day notice, but they also had current accounts there.
FWIW I doubt anywhere has "great" rates these days with instant access, we are starting to get a decent return on DS's allshare tracker fund (F&C or M&G, one is a CTF, I can never remember which is which).
Avoid gimmicky accounts, there's no point having a "free money box" then a crappy rate.

OodHousekeeping · 12/09/2012 07:53

We have nationwide. We are also nationwide so easy to transfer money online.

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