Children’s Bank Accounts And Planning Your Family’s Future

Everybody wants to give their children the best possible start in life, and make their future as secure as possible. Two ways of helping them, money-wise, are by encouraging them to save with their own bank account, and by making investments on their behalf.

Children’s Accounts

Most high street banks offer children’s accounts, usually a straightforward bank account with a moderate interest rate. These often come with incentives like free piggy banks that are intended to help children develop a sense of responsibility and prudence about money from an early age. You may like to give your child a financial education by opening them their ‘own’ account - though there’s nothing to stop you using a normal adult account with better rates of interest.

National Savings

The Children’s Bonus Bonds are a tax-free savings account specifically aimed at children. You can invest between

March 3, 2008 | Filed Under Banking 
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