Child Savings account

Futurehopeful

Hi
Just after some advice please on the best savings account for my 2 children age 11 and 9.
We opened a Natwest account for them a few years ago but they only earn 1% interest.
Money is paid in to their accounts throughout the year, (pocket money, birthdays etc) so it is small amounts each time. 
Money is never withdrawn though from either account.
Is there a better way I can invest their money?
Thanks

eskbanker

https://www.moneysavingexpert.com/savings/child-savings-tax-free/

refluxer

It's not yet shown on MSE, but Halifax has doubled the rate of it's Kid's Monthly Saver recently to 5% (fixed for a year) which is currently the highest-paying kids account you can get and suitable for regular payments of up to £100/month. The account can be opened and managed online, but one drawback is that it (and the Kids Saver account they open alongside it) can only be closed in branch so having one nearby will make things easier in the future.

For your existing lump sum, the HSBC MySavings account pays 3.5% on balances up to £3,000 but you'll need to visit a branch with your kids to open one if you're not a current account holder and it can only be managed online from age 11, so you'd presumably need a nearby branch in order to manage the account for your 9 year-old.