Child's Current Account Options?

mcdonnella

Apologies if I have missed any threads that are already covering this topic.
I am looking for advice on which bank account to open for my 12-year old daughter.
I feel it is the right time for her to have her own bank account with debit card, and begin to practice (in a controlled way) how to manage her own money.
Just not sure what the options are or which bank offers the best child's accounts.
Any advice gratefully received!
Thank you.
Andy Mc

xylophone

Nearly 13?

Santander 123 mini current account?

https://www.santander.co.uk/personal/current-accounts/123-mini-current-account

Nationwide FlexOne account?


https://www.nationwide.co.uk/products/current-accounts/flexone/whats-flexone?cmpid=PPC_1_1_71700000040758636_nationwide+kids+account

What is happening with her CTF/JISA?

shirlgirl2004

Having recently looked I've found the best access to money and account management doesn't come until they're 13. I will probably go with Nationwide as that's what my daughter has. For non-savings accounts there isn't much difference.

colsten

Most comprehensive list I have seen: https://www.which.co.uk/money/banking/bank-accounts/best-childrens-bank-accounts-arspc9p7mk0y

eDicky

The nationwide FlexOne account's debit card gives fee free use overseas, so would be handy for any future foreign trips with school or later. The account can be retained after the age of 18, and if I'm not mistaken pays some token interest:

https://www.nationwide.co.uk/products/current-accounts/flexone/whats-flexone

Jami74

My children have accounts with Barclays, simply because at the time it was the only bank left in our small town and they had Birthday money to deposit.

They have a contactless debit card, earn a little bit of interest and get quarterly statements, but the bit they like most is the app for checking their balances and seeing recent transactions.

gt94sss2

It might be helpful to open an account with someone who has a branch near you.

However, worth looking at HSBC as they pay 2.75% interest and give debit cards from 11 onwards.

Drawingaline

My 13&15yr olds have nationwide accounts. They earn interest. My 10yr old will get one next year when he turns 11.

System

I'm another one suggesting the Nationwide FlexOne account. My son had been with Nationwide for most of his life, so it made sense to change to FlexOne on his 11th birthday. It's only 1% interest at present, but interest can go up and down! There is a choice of ATM card or debit card, there's a banking app if you wish, and text alerts for low balance or just balance (he gets a text every Monday morning). The account stays with you forever, if you want it to - it becomes a student account with the benefits that offers at age 18 (if you are a student, of course) and then FlexGraduate and finally, as far as I can see a standard current account. Hopefully that will stand him in good stead if he needs to borrow money in the future.

It's unfortunate that our local branch closed, as he can't pay cash or cheques in so easily now (nearest branch now 20 minutes drive away) but I fear that is now the situation for so many people, having to travel to use a bank or building society branch.

colsten

Mrs_Arthur_Crown wrote: »

I'm another one suggesting the Nationwide FlexSaver account.

Do you mean the FlexOne?
As Nationwide don't have a product called FlexSaver.

System

Sorry, yes, thanks for pointing that out. I think the FlexSaver was something I had at some point. Thinking of too many things at once, as usual (one of them being stay off the computer as there's work to be done!!!!) Post now amended.