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Anyone recommend good account for very young children, please?
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doozeruk
Posts: 263 Forumite
Could anyone please recommend a CURRENT account for three young children?
I have three girls 3,4 and 6 (yes I am slightly deranged
), they have never had bank accounts and I am looking for a current account for each of them. We don't want to be drawn into a bond or savings scheme where we need to put money in each month, we want to be able to put money in as and when we wish.
They have each been given £100 and they also have another £100 or so laying around at home. I wish to start the accounts with the full amount in each, say £130. We would prefer a higher interest account, so that we don't have to deal with free cuddly toys and Barbie dolls, we have enough of those now! A cashcard won't be needed, internet banking would be useful but not a necessity.
Can anyone suggest or have experience of a good account that would suit my requirements please.
Many thanks
I have three girls 3,4 and 6 (yes I am slightly deranged
), they have never had bank accounts and I am looking for a current account for each of them. We don't want to be drawn into a bond or savings scheme where we need to put money in each month, we want to be able to put money in as and when we wish.They have each been given £100 and they also have another £100 or so laying around at home. I wish to start the accounts with the full amount in each, say £130. We would prefer a higher interest account, so that we don't have to deal with free cuddly toys and Barbie dolls, we have enough of those now! A cashcard won't be needed, internet banking would be useful but not a necessity.
Can anyone suggest or have experience of a good account that would suit my requirements please.
Many thanks
[font=Arial, Helvetica, sans-serif][font=Verdana, Arial, Helvetica, sans-serif]The early bird may get the worm, but the second mouse gets the cheese.[/font][/font]
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Comments
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You won't get a current account for kids that young.
I'd recommend you take a close look at the Nationwide Smart account. It pays a good rate of interest with branch access/passbook, and most importantly the interest rate has remained competitive for many years and isn't a short headline-grabber. You can view it online, but given the ages involved you'd have to ask nationwide if they would allow you to have access to it on the web.
If you change your mind about making monthly contributions to a savings account, then I suggest you take a look at Halifax Monthly Saver. Pays extra interest for those under 21, although a payment of £5 or more a month into the account is needed.
(disclaimer: this isn't financial advice!)0 -
Thanks newfoundglory.....
I will give nationwide a try then.
Many thanks for your time.[font=Arial, Helvetica, sans-serif][font=Verdana, Arial, Helvetica, sans-serif]The early bird may get the worm, but the second mouse gets the cheese.[/font][/font]0 -
My daugter has an account with HSBC - it is instant access - she has had it since she was 7. The account has £3000 in (richer than me!) and she receives £12.00 per month interest which seems pretty good - now she is 11 she has a cashpoint card and cheque book!(only a chequebook before) ahh she`s off to buy lipgloss!I have had brain surgery - sorry if I am a little confused sometimes0
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Or you could try the Yorkshire Building Society, theirs is called One Day and it's for all young people under 21. http://www.ybs.co.uk/savings/branch_based/one_day/index.jsp
But I agree, nowhere do you get a current account.
Best wishes
Aunty Margaret[FONT=Times New Roman, serif]Æ[/FONT]r ic wisdom funde, [FONT=Times New Roman, serif]æ[/FONT]r wear[FONT=Times New Roman, serif]ð[/FONT] ic eald.
Before I found wisdom, I became old.0
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