best childrens' savings accounts?

starby

Anyone out there have recommendations - my kids are only 7 but starting to accumulate significant amounts of cash (well, relatively speaking at least!) from birthdays, Xmas, tooth fairy etc and rather than having it sit around in their purses as they don't seem to want to spend much of it yet, I want to look into instant access savings accounts where at least they can earn some decent interest as well as get access when they need it. Any suggestions?

Bisoy

I'm sure if search google and visit www.moneysupermarket.com you'll find some of your queries.;) Good luck.

martinman3

bisoy is correct but as you asked nicely and used a smiley icon I will tell you my personal favourite.

Yorkshire Building Society One Day account 5.90% AER can also be operated through Britannia Building Society branches using MutualPlus scheme. You can operate the account in trust for them until the age of 21, which is uncommon usually until 16, so you can keep control if you wish.

Remember to fill in the R85 to get interest paid with no tax taken off.

Mikeyorks

Directly above your post is a link ... 'Kids' .... which answers your questions! Even some you didn't know you had :-

http://www.moneysavingexpert.com/savings/child-savings-tax-free