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    • HappyMJ
    • By HappyMJ 2nd Sep 13, 12:56 PM
    • 19,869 Posts
    • 16,456 Thanks
    HappyMJ
    • #2
    • 2nd Sep 13, 12:56 PM
    • #2
    • 2nd Sep 13, 12:56 PM
    Can someone please help, my daughter is 16 and starting an apprenticeship, we want to start to put money into a savings account for her but we're finding that children's saving accounts only go up to age 15 and adult accounts start at age 18. Can anyone suggest what we can do?

    Many thanks
    Originally posted by pinked
    There are plenty out there...who do you bank with.

    What about a Santander 16-18 Current Account?

    Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money.
  • pinked
    • #3
    • 2nd Sep 13, 12:58 PM
    • #3
    • 2nd Sep 13, 12:58 PM
    She's got a current account with Natwest but we wanted a savings account really to put some money away.
    • westy22
    • By westy22 2nd Sep 13, 1:00 PM
    • 1,040 Posts
    • 847 Thanks
    westy22
    • #4
    • 2nd Sep 13, 1:00 PM
    • #4
    • 2nd Sep 13, 1:00 PM
    Your daughter can have an adult Cash ISA (with full adult annual allowance) with almost all ISA providers from the age of 16.
    Old dog but always delighted to learn new tricks!
    • HappyMJ
    • By HappyMJ 2nd Sep 13, 1:04 PM
    • 19,869 Posts
    • 16,456 Thanks
    HappyMJ
    • #5
    • 2nd Sep 13, 1:04 PM
    • #5
    • 2nd Sep 13, 1:04 PM
    She's got a current account with Natwest but we wanted a savings account really to put some money away.
    Originally posted by pinked
    You can use a current account as a savings account. Santander pays 3% interest better than most savings accounts.

    Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money.
    • Masomnia
    • By Masomnia 2nd Sep 13, 1:24 PM
    • 15,826 Posts
    • 33,996 Thanks
    Masomnia
    • #6
    • 2nd Sep 13, 1:24 PM
    • #6
    • 2nd Sep 13, 1:24 PM
    Santander only pays the 3% up to £500, so may not be worth it, but depends on circumstances.
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
    • xylophone
    • By xylophone 2nd Sep 13, 2:45 PM
    • 16,549 Posts
    • 9,124 Thanks
    xylophone
    • #7
    • 2nd Sep 13, 2:45 PM
    • #7
    • 2nd Sep 13, 2:45 PM
    Open a JISA with Halifax if eligible? https://www.gov.uk/junior-individual-savings-accounts/overview

    6.00% tax free/AER variable
    if an adult cash ISA is held or child is 16 and over.

    She can open for herself as she is over 16 - money available to her when she is 18.
  • pinked
    • #8
    • 2nd Sep 13, 4:51 PM
    • #8
    • 2nd Sep 13, 4:51 PM
    Thanks for all your help guys, will look into all of those options.

    Pinked
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