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Can anyone recommend a bank that does good savings accounts for children? I asked in the post office but they will only open an account with a minimum of I think ?1000!

my children don't have much money to deposit, they get the odd ?20 for birthday presents etc and saved pocket money but would rather have it in a bank than sitting around at home especially eldest who has accumulated a reasonable amount now (but nowhere near the post office requirement!)

would also like to be able to get an associated debit card for my eldest.

When I was a child there was a lot of advertising for children's bank accounts and I got a whole duffel bag and various other goodies with my griffin saver (!) but nobody now seems to court the business.

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https://www.eastdulwichforum.co.uk/topic/140717-bank-accounts-for-children/
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My 11 year old has an account with the London Mutual Credit Union, there's a branch in Peckham.

He uses it for small amounts of birthday money, bigger sums go into a Child Trust Fund account that can't be

touched until he's 18.

HSBC do a savings account for 7=17 year olds, you can open it with ?10. Once they're 11 they can have a debit card - though I'm not sure how wise that would be!

Thanks all. We did try Lloyds as I bank with them but they said the only option was a savings account where she'd have to give something crazy like 30 days notice to take any money out when we're after a current account.

Will try one of the other suggestions here, thanks

  • 2 weeks later...

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