Bank account for little ones?

MRSMCAWBER

Hi there

Im probably in the wrong place -if so "sorry":D

Just a quick question really -does anyone know of a bank account for a child that still gives you a good old fashioned bank book?

We have a 22 month old and from birth we have been popping £50 a month from his family allowance away (just in a post offic account not a fancy pants account ) -now this is hopefully for when university, driving lessons etc start. I also put Birthday/Christmas money in there too and we also save our loose change and add that too as and when.

Now what I want to do is open up a basic childs account for the loose change and birthday money to start going in so he can learn about saving and in the next year or so start understanding that he can buy bits n bobs for himself -sorry to have waffled :rotfl: the question is .......
Is there such a thing as a bank book? or do I need to open a normal account and make him my own?

wendz86

If you went with a building society you may be able to get a book. I still had one with nationwide a couple of years ago for my isa.

ruis72

Halifax's child account also provide a bank book hth

Lynn11

You probably have to asked at your local branch. 2 years I opened up a basic account with RBS as we have a branch located within walking distance and it has a bank book. the interest is rubbish but at least I can see what is in the book and I can take money out and decide when I will give the money to my son when he is older.

bulktrans

Child ISA is another option ..

vic.star

I wouldn't recommend a child ISA if you plan on your Son being able to take the money out as and when. Most child ISAs are set up so you can only deposit money, and not withdraw before the child turns 18. I would pop into your local bank/building society and see what they have to offer. I know Natwest have a childs account that comes with a cute piggy bank too, and as that isn't an ISA i'm sure you'll be able to make withdrawals whenever you want. HTH

Pepperoni

Found this thread useful. Thanks all.

mum2one

Santander have kids account with books - child saver account x

S-li

Nationwide building society will be the safest place to put aside money for the little people in your life.

For the 7 - 18 year old children a special Nationwide saving account is a fantastic way of helping young children, and teenagers understand saving.

MallyGirl

I used Santander as at 11 my DD got a debit card which gave us an opportunity to teach her more about banking and saving. Plus her Amazon account is linked to her bank account so she isn't costing me a fortune in books and allsorts of 'must have' purchases