Can anybody recommend a children's bank account - or just offer some advice

[AggiePanther]

Hi,
My DD is 11 in a couple of weeks and as part of her birthday present we'd like to open a bank account for her. Thenwe can pay an allowance in to it and she can get cash out when she needs it.. rather than having a money box.
If possible we want to open one that offers a cashpoint card facility.
Does anyone have any advice or recommendations?

Got a regular saver from Halifax - You save £10 or more every month by standing order.

\link{http://www.halifax.co.uk/savings/childregularsaver.shtml\here}

Thanks for that Latz, but we're really looking for a current account that she can withdraw cash from, rather than a savings account

The Co-Op has two types ofchildrens accounts;
a current type account, where over 8's can have a card if you want them to, and a saving trype thing, where you can keep their money, and just transfer their weekly allowance if you want.

I would have thought most high street banks would have something like this though.

\link{http://www.co-operativebank.co.uk/servlet/Satellite?cid=1077782691950&pagename=CoopBank%2FPage%2FtplPageStandard&c=Page\more info on the co op}

natwest and barclays would do that - I think there is an age thing though with a card - They would probably suggest a savings account for now and then when switch it to a current account when he is 16 or whatever. Just had a thought - a savings book at the Post Office - do they still do that ?

DS has a Natwest account, at 11 he was allowed a cashcard and a young savers account, you have no say over it though, so make sure you trust them with money first :)

Thanks for that Jasnem. Coolmama - I don't know about the p.o. (I used to have one of those accounts)but I'd quite like to set up a standing order into her account and I don't know if I could do that with a p.o. account.
Piffle - yes I do trust her with money ..she's better than me sometimes

At 11 HSBC do a LIVECASH account,with cashcard, which automatically converts into adult account (or is very easy to convert to student acc) at the right age. Saves them jumping through hoops later. Can also be accessed via Internet. Comes with usual freebies & discounts.

\link{http://www.hsbc.co.uk/1/2/personal/current-accounts/under-18/livecash\Livecash}

Same here, ds is very sensible, saves his pennies :)
Not like his spendthrift mother then :)

Ooh thanks milliways - that looks worth investigating too

try \link{http://nationwide.co.uk\this} their smart account is fab - great interest rates and they can have a card and standing order into it are ok

Thanks yossa :)

I've just opened a Nationwide account for the 2 ds's - was really impressed with the speed of service. Went into branch with their forms on Wednesday lunchtime and their passbooks arrived the next day:)

The halifax do a child saver account which gives 10% interest for the first year.

I think the Alliance and Leicester may do the same as well

We opened a Barclays account for our two (12 and 14). They have the cash card option, but not the credit card option. It is working quite well. They have an allowance paid in monthly, and they are then (supposed) to last on that for the month!

AggiePanther

Have you thought about putting some of the allowance into a proper savings account? The best one around that I'm aware of is Saffron Walden's Ladybird Account. It has a passbook that goes with the account so the money is not so easily accessible and is safer to use as you have to go into the bank to withdraw cash.

I worked in a bank for years and saw loads of little kids coming in to withdraw money for "friends". Also, having the easy access of a cashcard may encourage your dd into bad spending habits for the future because the money is so easy to get hold of.

I would personally recommend putting some of the money into a proper savings account aswell-teaching her good savings habits from a young age which will be great for the future.