Kids Bank Accounts

laura1812

Hi - I'm after recommendations for kids' bank accounts if anyone can help?

I have two and I'd like to open them a bank account each, mainly for helping them manage their pocket money.

I'm planning to transfer their pocket money in via standing order and they'll also want to deposit any smaller cash gifts, they receive from family/friends.
I already have savings accounts in place for them both, so these accounts are really just for week to week money management.

I would like to have online access for the accounts and I would like debit cards for them.  

Can anyone recommend me a good account for them both?

Thank you.

DCFC79

laura1812 said:

Hi - I'm after recommendations for kids' bank accounts if anyone can help?

I have two and I'd like to open them a bank account each, mainly for helping them manage their pocket money.

I'm planning to transfer their pocket money in via standing order and they'll also want to deposit any smaller cash gifts, they receive from family/friends.
I already have savings accounts in place for them both, so these accounts are really just for week to week money management.

I would like to have online access for the accounts and I would like debit cards for them.  

Can anyone recommend me a good account for them both?

Thank you.

Have you by any chance googled "kids bank accounts" ?
There are various links, second is a mse link for childrens savings accounts.
Theres also links to possible accounts at 6 of the main banks so some reading for you.

penners324

Starling now offering kids accounts.

EarthBoy

penners324 said:

Starling now offering kids accounts.

Not exactly.  They offer Starling Kite, which is a debit card connected to the parent's account which can be topped up as desired.  It's not a separate kids account.  

colsten

It would help if the age of the kids was given

birdofpassage

My 12-year old has BarclayPlus. There are no monthly fees and it comes with a personalised bank card and a great mobile app (which is a stripped down version of the regular Barclays app). It comes with either a cash card or a regular debit card (incl contactless purchases). They can't go into overdraft. Interest paid is low, but you said your kids had separate savings accounts. We opened the account by video banking, but if you're not a Barclays customer you probably need to go into a branch to open it.
 
https://www.moneysavingexpert.com/banking/cards-for-under-18s/#childrenbankaccounts

laura1812

Thank you for your suggestions, my boys are just young 6 and 4.

pramsay13

As far as I know your only options at that age for a cash or debit card is one of the ones you pay for such as Go Henry or Starling Kite. 
You could get an app like Rooster Money if you want to manage their pocket money and they can get an app to track it themselves, but you would still need to control the money.

colsten

The minimum age is 6 even for GoHenry and Starling Kite. AFAIK, Rooster min age is 3.

In theory, you could also try the Santander 123 Mini but in practice, you may not be able to get an appointment because of Covid-19, and they might balk at the idea of giving a 4-year old a card.

GlennTheBaker

I and my wife opened Monese accounts in our names but put our kids' pocket money, gifts, etc. in there. Our children are aged 8 and 11.