Nationwide Child Savings 29 December 2022 at 4:30PM in Savings & investments 8 replies 257 views

nab85

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....

flaneurs_lobster

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

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

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.’

Band7

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

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

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

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

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!