Kids current accounts - can we limit ATM amount?

[Bear]

DD (12) says all her friends have debit cards and that our pocket money/Bank of Mum and Dad systems are archaic.

So I've been looking at the various account available to under 16 year olds and none of them appear to have a limit on daily ATM withdrawals any smaller than £100 (some £300). I don't envisage her having that amount in there any time soon, but what if a grandparent made a gift and she did, I'd hate her to remove it all quote unquote by accident. Or, heaven forbid, be bullied into withdrawing the contents of her account/a large amount.

Are there any account where we can set a limit on daily withdrawals - that we could increase as she gets older?

TIA

Bear

I think natwest are able to put a cap on daily withdrawal limits for ATM machines - it wouldn't limit use in shops though. Your daughter would be the one to set / increase the limit as it's her account not yours, you wouldn't have any access to it.

Could you encourage her to have two accounts? So keep a distinct savings account and a spending money account. Presumably she already has one for money from grandparents etc.

But it would be under her control whatever you did. She is of an age now where she can access get own money over the counter in the bank.

We've gone the two account route. Nationwide kept padlocked passbook for the cash gifts and long-term savings. Barclays basic account for monthly allowance. There's a £300 daily limit on withdrawals but he leaves the card at home so hopefully no chance of theft or being frogmarched to an ATM by bullies. So far we've had one or two unwise purchases but I see that as part of the learning curve.

doesn't matter what her friends have, and kids lie anyway.

keep your system, when she earns her own money then she can sort it all out. Offer her the option of your system or no money!

The coop has an amount where the children can withdraw £10 when they are 11, £20 when they are 12 etc

Account not amount

Thanks everyone - I can only see savings accounts for under 16s on the Coop website, and it's more of a current account she's after.

Have just live chatted with Natwest - always weird - "Alex is typing"…anyway, they can set this up, so we'll give it a go. If she changes it there'll be words. Cheers RockChick1984.