Childs bank account

themmackas

My son wants me to put his pocket money into a bank account monthly, i know ive read on here somewhere that people do this for their children and i would like to know which is the best one. It will be about £20 a month and he would like a debit card so that he can draw it out.

Any suggestions would be helpful.

Many thanks

heather38

how old is your child?

heather38

http://forums.moneysavingexpert.com/showthread.html?t=1037
see here for best accounts

themmackas

heather38 wrote: »

how old is your child?

he is 14 sorry i forgot to say.

whatatwit

My daughter has a halifax account, she's 14.
It has a cashpoint card that can also be used as a debit card.
And Halifax tend to be open on a Saturday.

MoneySavingStudent_2

I would suggest the freedom account with yorkshire building society there extremely good with around 6% interest rate. Unfortunatly doesnt have a debit card though but with the interest rate i wasnt bothered!! you can have it til your about 21

carol_a_3

Both my kids had Halifax cashcard accounts, they are very good and get a bit of interest on them too. Then, when they are 18 it's easy to convert to a "proper" current account. I like the fact that you can do online banking and pay into the machines when the branch is closed.

Savvy_Sue

My DSs have all had NatWest accounts and they've worked well, they get a card initially which lets them withdraw £20 cash but they can spend more than that in shops. Plus it converted really easily to a student account (with free railcard!) when DS1 went off to Uni, although it may be a different bank offering the railcard if that becomes relevant for your DS in a few years!