Bank account for a child

PRofJosh

Advice please...

We would like to set up a bank account for our daughter (nearly 1 year old) so we have somewhere to keep her money.
Are there any particular accounts that are good for this (or give the best freebies?!)? It'll only be small sums going in/out, so interest rates aren't particularly important.

I bank with Halifax for day-to-day stuff, so that might make it the easiest for me. But I like to weight up my options.

Cheers all.

opinions4u

PRofJosh wrote: »

Advice please...

We would like to set up a bank account for our daughter (nearly 1 year old) so we have somewhere to keep her money.
Are there any particular accounts that are good for this (or give the best freebies?!)? It'll only be small sums going in/out, so interest rates aren't particularly important.

I bank with Halifax for day-to-day stuff, so that might make it the easiest for me. But I like to weight up my options.

Cheers all.

Halifax have two kids accounts.

Save4it has a passbook, allows easy access and pays 1.05% interest. Higher rates can be got from Northern Rock 3%, Lloyds TSB 3% or C&G 2%.

Halifax Children's Regular Saver is less flexible, but pays 6% interest if you save between £10 and £100 a month for a year. No withdrawals.

PRofJosh

Yeah I think Halifax makes sense to keep my life easy.

Thanks for the reply.