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Parenting

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Child's first bank account

4 replies

scotjls · 03/09/2019 20:35

When I was a child I had a savings account with a building society. It was an account for a child, to put away birthday money etc. I had a passbook and stickers to go with it. I'm sure I had it from about age 8. I can't find anything like this now. All accounts seem to be for age 12+. My kids all got money visiting relatives recently. Not a huge amount, but enough that I would want them to maybe start saving. We have isa's for them, but they're not accessible to a child. Does anyone know of a simple bank or savings account that would be suitable for a 7 and 9 year old? Not Go Henry, I don't want to pay a monthly charge for it. Thanks

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dementedpixie · 03/09/2019 20:49

Most banks do a child savings account. Might be known as a young saver or something similar. Its only child current accounts that are limited to age 11+

scotjls · 03/09/2019 21:00

Brilliant, thanks for the link. I'll have a look. All of the ones I'd managed to find so far were for an adult to monitor the child's savings. And 11/12+

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dementedpixie · 03/09/2019 21:11

Yes it will be in the childs name but with an adult to oversee it. I am the named person on my kids' savings accounts

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