Once your child is 11, there are lots of current account options. Before that, if you want an account for your child there are still quite a few options out there - but wading through their fees and limits can take some time.
We've done our best to summarise the commonest ones below to help you choose the best fit for you and your child. But please do check for yourself, as these can change at any time.
Name | Monthly cost | Other costs | Interest rate | Card | ATM withdrawals | Fees for foreign transactions | Parent account required | Age | Regulated by |
Starling Kite | £2 | - | 3.25% up to £5000 | debit | yes (6/day £300/day limit) | none | with Starling | 6 to 15 | FCA |
Revolut | free | card delivery fee; fees for ATM withdrawals | 0 | debit | yes (£120/day & 3/day). Free for £40/month, then 2% fee | yes if >£250/month | with Revolut -£0-45/month fees | 6 to 17 | FCA |
GoHenry | £3.99 | one free deposit/month & fees thereafter | only with higher subscriptions costs | debit | yes (£120/day & 3/day) | none | any bank | 6 to 19 | FSC |
HyperJar | free | - | 0 | debit | no | none | with HyperJar | 6 to 17 | FCA |
RoosterMoney | 1.99 (free with adult NatWest account) | 50p for any transaction once over limits | parent-paid interest | prepaid debit (top up limits) | free withdrawals limited to £50/month (4/day & £200/day) | 3% if >£50/month | if adult has NatWest account, then Rooster is free | 6 to 17 | FCA |
Santander 123 Mini | free | - | 1% up to £999. 2% from £1000-£1499, 3% on balances from £1500-£2000 | debit or cash | £300 daily withdrawal limit | 2.95% unless Santander machine | with Santander | no limit | FCA |
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