Children’s Bank Accounts

[whoknows1230]

My children have accounts that were set up for them as babies but now they’re getting older (12 and 10), I think I should be looking at a bank account that they can have access to.

Ideally, I’d like something where they have two accounts - one for spends and one for savings - where they can move money between the accounts when they want, but also that I can keep an eye on.

Is there something like this in existence, ideally without a monthly fee?

My kids have a HSBC current account which they have a savings account linked so can move money back and forth. They also have a building society savings which is separate to that

Have you looked at Go Henry ? Visa debit card for children. We didn’t go for it as there is a small monthly charge but it looks brilliant if you are eager to help your children learn about budgeting and how banking generally works.

Nationwide. Proper banking for kids. They can have several accounts and use online banking to manage. May need to wait until 11 to get debit card

Mine are with TSB as the current account actually pays interest.

We used gohenry for years, but the monthly charge is too much for me to justify now. I'll be following this thread with interest (ha.)

HSBC - when DD turned 11 we set up a current account with a debit card and a savings account, both of which she can access on the app. When savings run into a few hundred I put it into her JISA.

I can never see the point of Go Henry when bank accounts are free but I'm clearly missing the USP.