HSBC kids account

[Epictantrum]

Hi, does anyone have an HSBC MyMoney/MySavings account for their kids? Would you recommend? Is there an app and is it easy to transfer money between the accounts? I want to get DD (11) her own account and this seems to have a reasonable interest rate.Thanks

My children had these years ago - they still have them now as adults. They've certainly found them easy to use.

My son had a HSBC account and had to go into a branch until he turned 12. On turning 12 he was given a debit card and online banking. The debit card is linked to a second account so you can, for example, put £20 available to their card for sundries but leave the rest of their cash in their savings account not accessible to the card. Safer if it is lost or stolen or darling child goes rogue with spending.

We have found it good since turning 12.

Most banks give you a current account and debit card at age 11. My 2 have santander accounts

Apologies it does look like the extra features are from age 11 (that time has flown faster than I thought)
www.hsbc.co.uk/current-accounts/products/children/

Mine have GoHenry accounts - I actually really like the app & as the parent you can set spending limits / online limits / cash withdrawal limits. It's also very easy to make a transfer from your own current account / quick top up / put in regular pocket money etc. Child can also have the app. DS 10 doesn't because he doesn't have a phone. You can also reward them for doing tasks etc.

Sorry, it doesn't answer your question exactly but I'm saying I'd compare the two!

I've recently opened one for dd due to the good interest rate. Can't recommend beyond that as I've literally had zip from them! No statements, no app, no online banking that I'm aware of, doesn't link to my adult account. So pretty annoying so far, but will probably stick with it unless I see a better interest rate.

Happy to be corrected if anyone knows better!