Recommended children's account

Shoxt3r

Hi there,

We're currently looking to setup a bank account for our 4-month old baby for relatives to pay money into (maximum £100 a month) and wondering what the best options are?

I've looked into the big names like Barclays, Natwest and others, and the Children's Instant Saver from Barclays appears to be the best as it gives a good interest rate but also instant access.

https://www.barclays.co.uk/savings/instant-access/childrens-instant-saver/

The account is likely to be dipped into often to buy our baby things but any interest is better than nothing, right? What other options are available out there? I've seen adverts for schemes where money can be paid in for a child but I'm guessing it doesn't allow for instant access and is more like a Trust Fund setup?

Thanks!

AnotherJoe

There are childrens easy access accounts offering 3%. AFAIC Barclays is 2%.
There are links on this site just go up to banking and saving top of this page.

cloud_dog

Depending on whether the 'dipping in and out' might be a consideration but Coventry JISA 3.6%.

xylophone

The Junior ISA will offer the best rate but the account cannot be accessed until age 18.

Details of JISA and other accounts below.

https://www.thisismoney.co.uk/money/saving/article-1583863/Best-savings-rates-Junior-Isas-children-s-accounts.html