Childs bank account

themmackas

My son would like me to put his pocket money into a bank account so that he can save it or take it out with a debit card, any ideas which is the best one at the moment. It will be about £20 a month maybe a bit more in the summer when he earns a bit of pocket money.

martinman3

An account with one of the best rates, at 5.9%, and a cashcard (not debit card) for use at ATM and convenient considering where you live is the Freedom account from Yorkshire Building Society. Need to be aged 12 - 20, initial deposit £10 and can set a monthly withdrawal limit.
Don't forget to fill in a R85 to avoid paying tax on the interest.

Lugh_Chronain

You can download R85 and Helpsheet here.

ryan07

i think you should choose a bank account which is nearest to your house..
for the interest rates.. you can always search the internet for that....