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This comparison simply includes all savings accounts.

Santander
123 Mini Current Account Santander
Open With £0
Account Type Childrens Current Account
Features Children 17 or under 3% AER Interest (T&Cs)

Why we like it: Children's current account. Can be opened by or on behalf of any child up to the age of 17. 1% interest on the entire balance once the balance up to £999.99. 2.00% AER/1.98% gross (variable) on the entire balance once the balance is £1,000 to £1,499.99. 3.00% AER/2.96% gross (variable) on the entire balance once the balance is £1,500 to £2,000. Debit or cash card available for those aged between 13 and 17. Monthly interest. No monthly fee. For children under age 13, the account must be opened in trust and managed by an adult (trustee) T&C's apply. If you’re aged between 13 and 17 years old and live permanently in the UK you can apply online by telephone or in branch. No overdraft facility

NatWest
NatWest Rooster Money Child's Bank Account NatWest
Open With £0
Account Type No fixed term
Features Kids' prepaid debit card and pocket money app

Why we like it: Children's pre-paid bank account. Can be opened on behalf of any child 3 years. Debit card available for the child from ages 6 to 17, with Pocket Money app. Set up with real or virtual money. Keep track of spending. Unlock extra features like Chore Manager - teach your kids the importance of earning money. Great for teaching kids good money habits from a young age. Manage all pocket money in one place. Help your kids make spending decisions when out & about. A child friendly interface that empowers and encourages kids to engage with their money. Safe and secure card. You’re still the primary account holder, so you are covered by your account’s FSCS protection up to £85,000. Monthly fee's start from zero to £1.99 per month. No overdraft facility

Go Henry
Go Henry Kid's Bank Account Go Henry
Open With £0
Account Type No fixed term
Features Pre-paid Debit Card & financial education app

Why we like it: Children’s pre-paid debit card account. Can be opened on behalf of any child from the age of 6 to 18. With the GoHenry prepaid debit card and app, kids learn how to budget—and grow to understand the difference between wants and needs by spending wisely. Parents can help guide their progress with real-time updates, customisable controls and more. Kids and teens can gain skills in the app, learning about investing, credit and more. Then apply their knowledge with their real money. Now with new lessons for kids aged 12+. 92% of parents say their kids are more money confident since joining GoHenry. Choose from 45+ card designs—and personalise it with your child’s first name, too. Covered by your account’s FSCS protection up to £85,000. 30 days free, then £2.99/month. No overdraft facility

Revolut
Junior Bank Account Revolut
Open With £0
Account Type No fixed term
Features Designed for kids, controlled by you

Why we like it: Children's bank account. Can be opened on behalf of any child from the age of 7 to 17. Debit card available for the child. Children can choose their own Junior card from a colourful range, guaranteed to make them smile. Get instant alerts on their spending and set custom controls for their online and contactless payments with a tap. With your help, children can learn things like saving up their allowance, understanding analytics and budgeting for treats. Unlock more Junior features when you upgrade to a paid plan. Discover awesome features like Tasks and Goals. Set motivating chores and reward them when they’re completed, or digitise their piggy bank. 4 types of monthly plan available ranging from zero to £12.99 depending on functionality and interest earned. No overdraft facility

Nutmeg
Junior ISA Nutmeg
Open from £100
Term No fixed term
Investment Linked Choose from 4 portfolios

Why we like it: Open with a lump sum from £100 to £9,000 in the current tax year. After initial investment top up any time with no minimum. Simple, transparent - Invest in one of a range of four expertly designed portfolios depending on your investment style. All four Nutmeg investment styles are built by experts and use exchange traded funds to diversify across stocks, bonds, industries, even countries. Choose the one that works for you. No exit fees and you’re free to make adjustments. You can see where your Junior ISA is invested and how it’s performing. Withdrawals possible from age 18. You can also transfer an existing Junior ISA or Child Trust Fund. If you need any help, financial advisers and customer support will answer any questions you have

Disclaimer: The value of your investments can fall as well as rise, so your child could get back less than you paid in.

Shepherds Friendly
Junior ISA Shepherds Friendly
Open from £10
Term No fixed term
Investment Linked Invested in With Profits fund

Why we like it: Shepherds Junior ISA lets you save regularly to offer your child a head start in life. You can save up to £9,000 a year TAX-EFFICIENTLY if your child is aged under 18 and does not already have a Child Trust Fund in their name. You can invest from just £10 a month and can pay in lump sums from a minimum of £100 initially and £10 at a time thereafter. Apply for a Shepherds Friendly plan online and get a Love2Shop voucher code worth up to £50* once you’ve made your first payment into the plan

Disclaimer: Stocks and Shares Junior ISAs offer the potential for higher returns than Cash Junior ISAs, particularly if you choose to invest for the long-term. However, you do need to know that, as the underlying value of your child’s investment is linked to the fluctuations of the stock market; although the value cannot fall there is no guarantee that bonuses will be added each year.

Scottish Friendly
My Select Junior ISA Scottish Friendly
Open from £10
Term No fixed term
Investment Linked Choose from 8 funds

Why we like it: Invest tax-free from £10 a month or a £50 lump sum — or a mix of both.You can raise, lower, stop and restart your payments any time you like. A selection of eight funds to choose from, so you can tailor your child's investment

Disclaimer: The value of your investments can fall as well as rise, so your child could get back less than you paid in.

 Children's Savings Accounts:

  • Most banks and building societies offer children's savings accounts. If you want security but are not too concerned about the rates of interest then there are no shortage of options. 
  • Savings accounts for children provide a good way for them to learn how to manage their money and help them get into the savings habit. Additional incentives from providers might include gifts with the account such as piggy-banks or calculators.

Children's ISAs or Junior ISAs:

A child qualifies for a Children's ISA, or Junior ISA, if they are under 18 and live in the UK. If you want to open a Junior ISA for your child, most ISA providers will give you this option.

  • Junior Cash ISA - Junior Cash ISAs work in a similar way to savings accounts. The exception being that the interest is tax free and your child cannot access the money until he or she is aged 18.
  • Junior Stocks and Shares ISA - With a Junior Stocks and shares ISA you can invest in shares, bonds and other eligible investments on behalf of your child. The value of these investments can go down as well as up.

However, it is important to note that under current HMRC rules, you cannot have a Junior ISA and a Child Trust Fund.

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We've been comparing savings and current accounts for many years so you can trust you're in good hands.