Children's Bank Account

bmturner88

Evening all,

I am looking at opening a bank account for my 13 year old son. Have looked at the Nationwide Flexone Current Account with interest of 2% AER (1.98% gross a year). I have looked at the discussions on the main MSE website but wondering if anyone else knew of any accounts that might be paying more interest?

WillPS

TSB offer 2.5% up to £2500: Under 19s Bank Account | Teen & Child Account | TSB Bank

You can do much better with savings accounts but I'm not sure that there's anywhere that offers more on the current account balance.

Children learning about saving money away separate from where they spend is no bad thing in my humble opinion.

TheMilkmansDad

our 12 year old has a HSBC current account and also a Saving account. Pocket money goes to his savings account and he takes responsibility in moving money to his current account should he wish to spend it.

Good way in getting them used to how banks work and have him take responsibility.

ForumUser7

bmturner88 said:

Evening all,

I am looking at opening a bank account for my 13 year old son. Have looked at the Nationwide Flexone Current Account with interest of 2% AER (1.98% gross a year). I have looked at the discussions on the main MSE website but wondering if anyone else knew of any accounts that might be paying more interest?

Santander has tiered interest up to 3%

HSBC offers a 0% CA that comes bundled with a 5% savings account (£3,000 max at this rate).

NatWest and RBS offer accounts of around 2.60% effective 13th july