Current account for 9 year old

glennhalstead

Hi folks,

I'm looking for a current account for my 9 year old to pay his pocket money into. An account where he can see his money accumulating, choose to spend it or save it.

I opened an RBS First Saver account because they have a branch locally but he doesn't get a passbook or any method of monitoring his account other than monthly savings. (His 11 yr old brother gets a debit card).

Does anyone have advice or thought to share?

thanks
Glenn

colsten

Santander 123 Mini In Trust any good? http://www.santander.co.uk/uk/current-accounts/123-mini-accounts/?gclid=Cj0KEQiA1qajBRC_6MO49cqDxbYBEiQAiCl5_KjsfKVZ2TcttXXAUc7lgcP6zOFfJPPIGYVUrZt97iYaAkqc8P8HAQ

xylophone

Do you have a Halifax/Bank of Scotland branch?

Halifax young saver offers a cash card to the over 7s.


http://www.halifax.co.uk/savings/accounts/branch-accounts/

kingstreet

We picked a local building society, Stafford Railway, for our daughter's savings.

You still get a passbook and supporting a local mutual appealed to me.

I wouldn't put her in charge of a debit card.

glennhalstead

colsten wrote: »

Santander 123 Mini In Trust any good? http://www.santander.co.uk/uk/current-accounts/123-mini-accounts/?gclid=Cj0KEQiA1qajBRC_6MO49cqDxbYBEiQAiCl5_KjsfKVZ2TcttXXAUc7lgcP6zOFfJPPIGYVUrZt97iYaAkqc8P8HAQ

Minimum age = 11 on the Santander 123 Mini

glennhalstead

xylophone wrote: »

Do you have a Halifax/Bank of Scotland branch?

Halifax young saver offers a cash card to the over 7s.


http://www.halifax.co.uk/savings/accounts/branch-accounts/

Looks like a good option, thanks. I think I have a branch near work.

glennhalstead

kingstreet wrote: »

We picked a local building society, Stafford Railway, for our daughter's savings.

You still get a passbook and supporting a local mutual appealed to me.

I wouldn't put her in charge of a debit card.

Nice idea but we don't have a mutual near home or my work.

colsten

glennhalstead wrote: »

Minimum age = 11 on the Santander 123 Mini

Did you look at the Mini In Trust? Age 0 to 10.

glennhalstead

colsten wrote: »

Did you look at the Mini In Trust? Age 0 to 10.

Thanks, I didn't spot that.

glennhalstead

I don't see on the mini 123 in trust that a debit card is included. Sadly you can't apply online either. Phone or Branch and no Branch near home or work...

I thought I had it nailed there but still in maybe land.

Stuart_W

If physically having a branch to go into is important, perhaps the starting point is looking at which branches are conveniently local to you.

No Santander, no local building society, what do you have?

I'd back the old fashioned passbook idea for a younger child - really easy to see the money build up and keep a record of what is there. I used to have a national savings passbook at the post office when I was little, but the days of going to the local village post office for the postmaster to write in a passbook with a biro are long gone!

My local credit union offer deposits via paypoint - so at the local shop - but getting it out is a bit more tricky. Interest is also rubbish.