Children's account at the post office?

Stuart_W

I am trying to find a simple savings account that my child can use which allows deposits and withdrawals at the post office. I didn't realise it would be this difficult! When I grew up in a village with only a post office some 40 odd years ago, my National Savings account was great for learning about money, paying in cash to save.

Any ideas? Most banks allow post office access yes, but not for children's accounts! I am really struggling to find anything. 

p00hsticks

How old are the children ?

wmb194

Stuart_W said:

I am trying to find a simple savings account that my child can use which allows deposits and withdrawals at the post office. I didn't realise it would be this difficult! When I grew up in a village with only a post office some 40 odd years ago, my National Savings account was great for learning about money, paying in cash to save.

Any ideas? Most banks allow post office access yes, but not for children's accounts! I am really struggling to find anything. 

Does it have to be via a Post Office? Are there any bank and BS branches close to you?

WillPS

Stuart_W said:

Any ideas? Most banks allow post office access yes, but not for children's accounts! I am really struggling to find anything.

Where are you seeing this? I've glanced over the terms for Halifax Expresscash and Natwest Adapt, and both support Post Office usage.

Stuart_W

Sorry, should have said ages 8 and 10.

Plenty of the 11+ youth/teen accounts are an option in the future, but as my children don't have phones (and won't for a while) and have very limited screen time looking for a paper-based or passbook account ideally, where they don't need to log in, but of course no passbook account is possible at the post office (they actually withdraw NS passbooks back in 2008 a few years before most NS products left the post office). 

At their age, I was collecting the Natwest pigs, had a Barclays money box, a Henry's Cat cuddly toy from Woolwich building society I think, a Midland Bank pencil case set and no doubt various other bits of free tat as bribes for opening children's accounts, and then actually kept the little money I had in a National Savings Investment Account at the post office for far superior interest! Martin Lewis would have been proud of 9 year old me in the 80s!!! That's all long gone but the under 11s children's accout offering these days is a bit poor in comparison. Forget the freebies, just an easy tangable way to visibly save will do.

My local town will have no banks at all from next Spring but does have a Yorkshire Building Society agency which offers the OneDay account as a passbook account so I think that will be the best option. Passbook accounts are pretty much going they way of the dinosaurs, even Nationwide are ditching them next year. I might just get away with it for my two for a few years so they can easily "see" their money as they save it. 

I'm a slightly irked by accounts the the Virgin Money M-Power account for 11 year olds, which require the child to have their own smartphone - not the parent, but the child. That's not a road we're going down. Not yet.