Best Freebie with a kids account? and other questions

Iggy1313

H folks, Im looking at setting my son up a bank account, he is 5....

I have a couple of questions, firstly me and my husband are seperated, so how do I do this? set one up where there has to be 2 signitures to wthdraw funds?

also, which bank is offering the best freebie? Anyone know? I want this to be quite an exciting thing for my son, I remember opening up a bank account with midland when I was a kid and getting a load of crap, that I thought was wonderful!!!

Thanks so much x

dr_adidas01

Iggy1313 wrote: »

H folks, Im looking at setting my son up a bank account, he is 5....

I have a couple of questions, firstly me and my husband are seperated, so how do I do this? set one up where there has to be 2 signitures to wthdraw funds?

also, which bank is offering the best freebie? Anyone know? I want this to be quite an exciting thing for my son, I remember opening up a bank account with midland when I was a kid and getting a load of crap, that I thought was wonderful!!!

Thanks so much x

Nearly anyone can set up a savings account for your child and as far as i'm aware, not sure there are many savings accounts that require 2 signatures these days.

As your child is only 5 you will have to open the account on behalf of your child.

As for exciting things sadly they don't throw any freebies in these days.

Natwest are the only one that offer free pigbybank which is basically similar to the one that you may remember from being a child.

http://personal.natwest.com/personal/savings/first-saver.html

Archi_Bald

You can open an account for your son without anyone else's agreement. If you want your kid to have a gift with their account, I am afraid, you probably have to buy the gift yourself.

NatWest might have nice piggybanks but their interest rates are pants. Don't condition your kid to a bank that always pays pants interest rates to everybody.

Much better choices in http://www.moneysavingexpert.com/savings/child-savings-tax-free

Also worth a look is the Santander 123 mini (in trust), which can morph into a current account.

Iggy1313

thanks guys xx