Account for a 9 year old

mad-mum_3

Hi
I am looking for an account for a 9 year old to operate.
Ideally where they can pay in any amount small (or large) and also withdraw money.
I have seen the Co-op bonus account but no branch near us so useless to anyone under 11 as can only be operated at their branch until then. I have also tried NSI ( Post office) but minimum deposit ( each time) is £20 and at 50p/week pocket money that is going to take a long time!
We have an investment account already but are looking for an account that they can operate on their own and take responsibility for.

Anybody any ideas?

Cypher

Why do they make it so difficult for children to save. When my children were younger we used to have National Savings Accounts (Post Office based) for them to pay in pocket money, gifts off grand parents etc. Then the post office upped the limit to £20 so it become almost impossible for them to get into the habit of saving

We did open Halifax savings account for them but as this was in the next town we soon stopped making the trips to pay in money. I did set up regular standing orders but its not the same as the child paying in their own money.

chesky369

I think Halifax are still the best children's account but it's difficult unless you have a branch near you.

tom188

Or nationwide smart account if theres a nwide nearer to you. Pays 5% so fractionally less than Halifax (pre nov base rate rise).

Look on moneyfacts.co.uk and do a savings search for childrens accounts and theres a list of all the different accounts available. Quite often local building societies do good rates for childrens accounts.

mad-mum_3

Hi thanks to you, sorry work commitments meant have not looked here recently. Yes i am disappointed thta I cannot get a PO account for my son as i wanted him to be responsible for paying in his own money. We do not go inot the nearest town often enpuigh or regularly enough with him for it to be done there. Oh well guess we have to stick to the non interest paying piggy bank.