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Which bank offers the best under 18 savings account?

If you are a parent looking to set up a brilliant savings account for your children we are here to help as we take a look around at which company is offering the best value on under 18 savings account (under 18's savings accounts).

Picking the right account for your child is massively important as statistics back up the fact that your child will likely stay with the same bank for most of their lives, so getting it right initially is of utmost importance. The bank we are going to recommend you check out is Nationwide, and you can check out their full range of Childrens products at http://www.nationwide.co.uk/savings/childrens/.

Nationwide offer their Smart Account to children aged below 18. It is an instant access savings account for children aged up to 18, and a cash card is available to all account holders over the age of 11. All the child has to do is keep £1 in the account at all times to keep it open. The account also comes with some fantastic perks, so lets check them out.

Your child will get free withdrawals on their account, your child will get an AER of 0.75% and the account can be applied for online. Nationwide also offer a Cash Child Trust Fund which may be a better option if you want your child to not have access to the money until they come of age.

This account pays out at 2.10% AER, but your children won't have any access to the money until they turn 18.

 

 

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