Children's bank account with passbook?

[backinthebox]

Does anyone know where I can take my children to get a savings account? They have a very small income (about £2-5 a week each) from something they sell, and they use it to buy toys. The deal we have is that they must save 10% of it before they can spend the rest. This means they have about 20-50p per week to save. They are both young (7 and 4) so I want them to learn that they can take their money at the end of the month and put it in a savings account, and see it growing. For this reason I want a passbook. Do such accounts still exist? They already have a savings account but it is run online and my husband transfers the money from his account and pockets their pennies. But they don't see where it goes.

passbooks are gone with the ark - too insecure

and frankly a money box is better unless you are dealing with over £10 per transaction per week

Santandare still have passbooks.

Yorkshire Building Society still have passbooks.

Nationwide have passbooks - they don't care how little gets put in - and they make as big a fuss over 50p as they would £50k

Chealsea building society still have passbooks.

I got a passbook from rbs. Although the account is also in my online accounts so sometimes I transfer money and just write it in his book.

My twins have passbooks - they have not gone out with the ark and they are with Santander. Every time we go in the lady at the desk wants to move the money which is always a good sign you should keep it where it is!

As my father did with us when we were about 7 I have always liked taking children into a bank to show them about paying money in . It's a good life lesson. The twins very recently took out a nat west account with card (as now teenagers) but I've kept their life savings with the passbook for when they go to university as they cannot easily access it so less likely to be spent before they go to university.

Thanks everyone. I think Santander is the way to go then.

Talkinpeace, it's more about the principle of putting money in a savings account than the amount they are saving. If we teach them right from day one that you save a percentage of everything they receive, no matter how small the amount, it will hopefully rub off on them for when they are older!

My 3 year old has a passbook children's saving account with Nationwide. I'll give her the passbook when she is either 18 or 21. I think nationwide are the best have always recieved excellent customer service x

Virgin money but I think the min deposit is £10, so you could save monthly and then deposit?

We have accounts with the local building society which still has passbooks. I make them save 10% of all birthday and Christmas money.