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Savings accounts for kids are usually pretty good and can have higher interest rates than adult accounts (although sometimes this comes with lower deposit limits). In pretty much all cases though, it’s best to set up an account in your kids name, so that money you’re saving for them is already registered as theirs and benefits from any children’s tax or interest rate advantages.

Junior ISAs (JISAs) let kids save up to £9k tax free per year, which is a pretty hefty amount! Just like adult ISAs, you can choose to open a cash or stocks and shares JISA. Savings rates on cash ISAs for children are often higher than for adults, but the money saved isn’t accessible until the child turns 18. 

Building societies often offer good annual savings rates for JISAs, but some can only be opened in person or by post, so you may find them inconvenient. You can also transfer existing ISA funds, so if you already have a JISA opened for your child, see if you could transfer to a better rate.

Remember when making your choices, that stocks and shares accounts don’t offer an interest rate as they are an investment account – meaning the value of your investment will go up and down and you risk ending up with less than you put in. Investment accounts usually come with management fees too, but if you’re saving over a long period of time, you’ve got a good chance of building up a good amount of return.

"it's great to get your kids into the saving habit early"

Eman, Founder OnestopSave


There are loads of ways you can help kids understand everyday spending and saving and get them used to using both cash and cards. 

As we all know, spending cold hard cash versus money on a card feels quite different – so it can help kids to have experience of both, helping them understand how money that is spent on a card is literally (not just digitally or virtually) spent just the same way as cash. 

A piggy bank is a great way to see money accumulating as they save, as it quite literally fills up, but keep this to the small change as obviously there’s no interest to be earned. 

Your kids might even be better than you at navigating apps, so if you opt to get them an account and kids card, set them up to see what they’re spending and learn more about their finances.


KidStart is a cashback site with a difference – any cashback you earn goes directly into a savings or JISA account for your child, so your regular shopping can help kick start their savings pot. You can share quick links with family and friends to get cash gifts directly into their account.

Premium bonds are also an engaging way to include children in their finances. Whilst they aren’t a savings option as you don’t earn interest, every bond is entered into monthly draws that offer some big cash prizes.


Introducing kids to banking and digital money management at an early age is great and these accounts offer that gateway. Many options are fee-free and some even offer annual interest rates. 

If you have a teenager, they may be able to go ahead and open their own account, but if you think your child isn’t ready to go solo yet, or is still too young, you can also find great linked options that allow you to oversee spending and have a shared view of their finances. 

  • Starling Kite – essentially an add-on to an adult Starling Bank account, offering 6-15 years olds a card which can be topped up by parents and controlled through the app. Kids get their own version of the app too and there are no monthly fees, but you’ll need to be a Starling account holder to get started. Starling also offers a Teen account, with an annual interest rate and dedicated app showing spending insights and savings pots.
  • HSBC MyMoney – current account & savings for 11 to 17 years old. No monthly fees and comes with a contactless Visa debit card. No interest rate on current account, but it is automatically linked to a MySavings account that pays interest.
  • NatWest Adapt – current account for 11-17 year olds; no monthly fees, annual interest rate, contactless debit card linking to Apple or Google Pay and cardless ATM withdrawals of up to £130 every 24 hours from NatWest cardless ATMs.
  • TSB Under 19s – current account for 11 to 17 year olds. No monthly fee, contactless debit card and annual interest rate TSB have also partnered with the AA to offer account holders savings of up to £36 on AA driving lessons, and a further £20 on the cost of Pass Plus certificate.
  • GoHenry – a debit card and app for kids aged 6-18 with monthly fees from £3.99, offers lots of engaging money management tools.

This information is intended for editorial purposes only and not intended as a recommendation or financial advice