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Child operated bank account?

10 replies

MarriedDadOneSonOneDaughter · 19/05/2014 12:40

When I was at primary school I had a Post Office savings book. I could walk in and deposit and withdraw money without an adult.

Does anything like this exist today?

My kids have cash from birthdays and pocket money in wallets, but they loved the idea of the Post Office account and I think it would be really good for them.

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LadySybilLikesCake · 19/05/2014 12:42

Most banks do them. Twatwest have a young saver account etc, so it's a case of shopping around.

gallicgirl · 19/05/2014 12:43

Coop have a bank account that grows with the child.
Functions at age 7 are limited but as the child gets older and more responsible, the functions of the account increase.

PurplePunkPrincess · 19/05/2014 13:04

I opened my kids an account with natwest (twatwest! Love it!) I explained it was for them to use. There's no book or card for the account but I can transfer money to and from my account and see the accounts on my app. Not what I wanted and I would assume not what you are looking for either!

Try local building societies as well Smile

LadySybilLikesCake · 19/05/2014 13:07

You can get a paying in book for them, Purple.

TheGirlFromIpanema · 19/05/2014 13:15

Ahem, the name is ShatWest iirc from a brief stint working for them many moons ago Grin

LadySybilLikesCake · 19/05/2014 13:17

Grin Ha!

Jinglebellsarecoming · 19/05/2014 13:20

Also look at go henry, we use it for dd age 10.

TheNightIsDark · 19/05/2014 13:23

Nationwide do one.

Iamaslummymummy · 19/05/2014 18:54

I use go Henry

MarriedDadOneSonOneDaughter · 19/05/2014 20:23

I went down the high street into Natwest, Lloyds, Barclays, HSBC, Santander, Coop, Halifax and Nationwide.

The best choices were

Nationwide - old style printed passbook but only 0.75% interest
Halifax - ATM card with PIN in kids name for withdrawals at any ATM and deposits in branch, 3% interest.

Going with Halifax.

Thanks.

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