What children’s bank accounts offer their customers, like any other financial product, will differ considerably between lenders but a little time spent researching the market beforehand will pay dividends.

Children’s Bank Account

Most children’s bank accounts come with a number of facilities:

  • Children’s bank accounts can be opened with as little as £1
  • Credit interest will accrue as balance increases
  • Cash card which can be used for withdrawing from ATMs
  • Debit card, which can be used for shopping
  • Interest rates from 0.25% AER

Above example is from the Barclay Plus account.