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Nationwide Child Savings

nab85
nab85 Posts: 6 Forumite
First Post
in Savings & investments
Hello all,

Is it just my imagination or have Nationwide's child savings accounts become a thing of the past? Can't see any mention whatsoever of anything for under 11's now, just went to open a savings account for my 1yo....

Comments

  • flaneurs_lobster
    flaneurs_lobster Posts: 9,793 Forumite
    Seventh Anniversary 1,000 Posts Photogenic Name Dropper
    Seems you are right.

    Halifax have a Kids' Monthly Saver paying 5% for a year on up to £100/mth then it turns into a regular Kids' Saver paying 2%.

    I wonder if that monthly saver is really restricted to tinies, after all I have a Coventry BS First Home Saver..........
  • xylophone
    xylophone Posts: 45,945 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Do you want to consider a JISA for your child?

    https://www.gov.uk/junior-individual-savings-accounts

    https://www.moneysavingexpert.com/savings/junior-isa/

    https://www.fidelity.co.uk/junior-isa/ might be worth considering for stocks and shares.

    https://monevator.com/passive-fund-of-funds-the-rivals/


    Other child savings accounts

    https://www.moneysavingexpert.com/savings/child-savings-tax-free/
  • ForumUser7
    ForumUser7 Posts: 2,583 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    edited 29 December 2022 at 7:01PM
    flaneurs_lobster said:
    Seems you are right.

    Halifax have a Kids' Monthly Saver paying 5% for a year on up to £100/mth then it turns into a regular Kids' Saver paying 2%.

    I wonder if that monthly saver is really restricted to tinies, after all I have a Coventry BS First Home Saver..........
    ‘In order to open a Kids’ Monthly Saver you’ll need to provide a valid ID document for the child.’
    If you want me to definitely see your reply, please tag me @forumuser7 Thank you.

    N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.
  • Band7
    Band7 Posts: 2,285 Forumite
    1,000 Posts Name Dropper
    You are right, Nationwide don't seem to offer much for kids these days. The good news is, there are 154 non-ISA and 28 Junior Cash ISAs available from other providers, plus there are some Regular Saver accounts for kids
  • flaneurs_lobster
    flaneurs_lobster Posts: 9,793 Forumite
    Seventh Anniversary 1,000 Posts Photogenic Name Dropper
    ForumUser7 said:
    flaneurs_lobster said:
    Seems you are right.

    Halifax have a Kids' Monthly Saver paying 5% for a year on up to £100/mth then it turns into a regular Kids' Saver paying 2%.

    I wonder if that monthly saver is really restricted to tinies, after all I have a Coventry BS First Home Saver..........
    ‘In order to open a Kids’ Monthly Saver you’ll need to provide a valid ID document for the child.’
    Spoilsports.

    Thanks for checking.
  • nab85
    nab85 Posts: 6 Forumite
    First Post
    Band7 said:
    You are right, Nationwide don't seem to offer much for kids these days. The good news is, there are 154 non-ISA and 28 Junior Cash ISAs available from other providers, plus there are some Regular Saver accounts for kids
    That's a great list thank you!
  • refluxer
    refluxer Posts: 3,488 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    It's definitely a strange decision for one of the biggest high-street building societies in the country to not be currently offering any children's savings accounts.

    They recently raised their (NLA) Future Saver children's account to 3% - presumably they want to retain the funds already saved in these accounts (or maybe keep the kids as potential future adult customers), but don't have the need to generate new business by making them available to all again.
  • nab85
    nab85 Posts: 6 Forumite
    First Post
    refluxer said:
    It's definitely a strange decision for one of the biggest high-street building societies in the country to not be currently offering any children's savings accounts.
    That's what I thought, the other kids have Nationwide passbook accounts already, which I'll probably now move for a better rate whilst I'm at it!
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