Childrens Bank Account

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AltenburgMum
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Childrens Bank Account

Postby AltenburgMum » Mon Jan 17, 2022 9:25 am

Hi,
I’m looking for options for a basic bank account for a child. I have two daughters aged 7 and 5 and am looking for something we can open for both of them.

It doesn’t need to be fancy and really I don’t want to pay a monthly fee. They won’t have that much in the account so I don’t really want to pay more in account fees than routinely goes into the account.

Any thoughts/experiences appreciate. Most that I can find seen to charge up to £3a month.

Thank you
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SinéadB
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Re: Childrens Bank Account

Postby SinéadB » Mon Jan 24, 2022 7:33 am

Hi! I opened up a Young Savers Account with Metro Bank for my son. Very happy with it. We’re not being charged monthly account fees.

youngsavers_importantinformationsummary.pdf
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catboo1
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Re: Childrens Bank Account

Postby catboo1 » Mon Jan 24, 2022 8:28 am

I was just about to say the same- I recently opened an account for my son at Metro Bank and it’s brilliant! They get a proper debit card and there are no fees at all.
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AltenburgMum
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Re: Childrens Bank Account

Postby AltenburgMum » Mon Jan 24, 2022 9:01 am

Oh perfect, thank you I will take a look
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lifeminco
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Re: Childrens Bank Account

Postby lifeminco » Mon Jan 24, 2022 10:08 am

I recently got one as well - for my 11yo son - but i went with HyperJar which doesn't charge anything and has some additional functionality. 

It's sort of complicated depending on ages, whether it's savings or cash and whether you want to be able to view the activity or not. I used this article to research
https://www.moneysavingexpert.com/banki ... under-18s/

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YummyMummy2022
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Re: Childrens Bank Account

Postby YummyMummy2022 » Mon Jan 24, 2022 10:29 am

Try HyperJar … 10/10 ! 

its free to use, unlike the expensive GoHenry. 

each child gets a debit card to use and it can be used all over the world with no foreign exchange fees. You set up a debit card account and a savings jar so they can’t overspend.

highly recommended, our 5 year old loves it !
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AltenburgMum
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Re: Childrens Bank Account

Postby AltenburgMum » Mon Jan 24, 2022 10:49 am

Great thank you. Will take a look. Options for 5y.o are tough to come by. And she won’t be pleased to miss out when her big sister has it.
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