Children's savings accounts

[handmademitlove]

As nationwide are getting rid of their passbook accounts, it has prompted me to look at alternatives. Almost all the children's accounts I can find have a limit of under £5k for reasonable interest rates. Does anyone have any suggestions for good rates of interest on amounts up to £50k that are still trustee accounts until 18? Do not want a junior ISA for other reasons.

Yorkshire Building Society One Day Account.

Interest rate is 4.5% variable. £10 to £1 million.
It can be opened in trust for a child up to 18, and the account continues up to age 21.

Withdrawal as often as you want. as long as it's for the child (They may ask you to prove this).

https://www.ybs.co.uk/savings/product?id=ONEDAY

Look at Money Saving Expert website

Also look at

Raisin
Zopa
Chase
Plum
Monzo
App banks

What about premium bonds? Not a guaranteed rate of return, but likely you should do well with full holdings, and fun to have the chance of a bigger win each month!

Unfortunately, none of these listed provide children's savings accounts with the adult as a trustee (Some do provide a current account for a child).

Of those listed on MSE, only Yorkshire Building Society permit larger deposits.

Skipton building society, can still have a passbook too.