Decent savings account for a 16yo - advice please!

IdrisJazz

I have a child saver for my 16yo with Lloyds, but I have just noticed that they converted it to an Easy Saver account on her 16th birthday (she's nearly 17) so it has been accruing only 1.4% in that time.

She's good with her money, so I'm happy to let her take control of the £2k she's got, so she can move money in and out of her current account as she needs.

Looking for easy access, as she's going to be spending on things like driving lessons, and looking for something that is easy to open (probably by app).

Don't need the very best rate, but something that is likely to stay competitive. 

Thanks

pramsay13

Starling current account gives 3.25% interest. 

Mark_d

With HSBC you get a 5% savings account

https://www.hsbc.co.uk/current-accounts/products/children/

Bridlington1

The Cahoot Sunny Day Saver can be opened at 16 and pays 5.2% on balances of £3k or less. There's no app with this though, just online banking.

There's also quite a few regular savers paying north of 5.2% which allow 16 year olds to open them, these limit the amount you can deposit into them but many allow penalty-free withdrawals/early closure if needed. She could drip-feed the savings into a few regular savers to really maximise her savings interest. There's a list of regular savers on moneyfacts. See:
https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/