Banking app for under 9’s?
Discussion
I was wondering if there was a high street bank that offered a banking app for young children. What I’d really like is a current account for pocket money and a savings account for larger sums. There is no need or desire for them to be able to use the accounts for spending in public but rather to use as an exercise in storing money in a way that is easily visible.
For example, when I was younger I had an Abbey National booklet that showed the sums I’d accumulated and I’d like to replicate that in a modern environment. All I need is the ability for them to see the money and for me to move money into the accounts.
For example, when I was younger I had an Abbey National booklet that showed the sums I’d accumulated and I’d like to replicate that in a modern environment. All I need is the ability for them to see the money and for me to move money into the accounts.
The santander 123 Mini is a childs current account that can be linked to a 123 mini ISA.
If you are an existing customer then the account(s) will appear on your online banking and app.
There is no specific app for children as you could imagine the fun they could have if there was, but they could use the Santander app or you show them the balance every now and again?
If you are an existing customer then the account(s) will appear on your online banking and app.
There is no specific app for children as you could imagine the fun they could have if there was, but they could use the Santander app or you show them the balance every now and again?
DonkeyApple said:
Thanks. It’s not actually the spending side that I’m after but rather an app that I can put on their devices so they can log in and watch their money grow as they earn it doing chores.
Basically just like yours or my banking app that shows the current account and a savings account.
Basically just like yours or my banking app that shows the current account and a savings account.
You can do that with Go Henry.
It's a good app.
Condi said:
Do kids of 9 years old need a smartphone, let alone an app where they can check their finances?
What a time to be alive.
It’s always a great time to be alive!What a time to be alive.
Old smartphones are brilliant for kids. They can FaceTime their cousins in Italy and Scotland using the WiFi. I’ve uploaded OS maps of where we go walking and the GPS in them shows them where they are and they learn how to read a map. They can also use school apps which seems to engage them far better than the old laptop did. And over the weekend I realised I might be able to use them to teach them about saving money in an engaging way. They can also email their grandparents. On flights I can download them some of their favourite TV shows. And you retain total control over the apps and what is capable. I can’t recomend them enough as tools of education and engagement.
Why don't you set them up something like a Hargreaves Lansdown Funds ISA. You can pay in money and just have it sat there, or you can invest in shares/funds, and either way they will be able to log in and view the current position.
I have these for my children, obviously the main reason being to provide them funds at the age of maturity, but as they are able to view it, it also get them some knowledge of how these investments work, and hopefully will lead to them continuing them long after I stop paying in.
I appreciate their are fees involved again.
I have these for my children, obviously the main reason being to provide them funds at the age of maturity, but as they are able to view it, it also get them some knowledge of how these investments work, and hopefully will lead to them continuing them long after I stop paying in.
I appreciate their are fees involved again.
Doesn’t look like there’s much suitable for your needs OP. I wouldn’t want to be paying £72 a year for it either. In the absence of a better idea could you get something that mimics an old savings account passbook, buy one of those posh blue pens that banks used to use and write the amounts in as it would’ve been in the old days? That’s prob what I’ll do when my little one is older. Laminate her 2 passbooks, one for savings one for a current account and just manually write in whatever your online banking app shows.
Hobo said:
Why don't you set them up something like a Hargreaves Lansdown Funds ISA. You can pay in money and just have it sat there, or you can invest in shares/funds, and either way they will be able to log in and view the current position.
I have these for my children, obviously the main reason being to provide them funds at the age of maturity, but as they are able to view it, it also get them some knowledge of how these investments work, and hopefully will lead to them continuing them long after I stop paying in.
I appreciate their are fees involved again.
Thanks. That aspect is covered. I have these for my children, obviously the main reason being to provide them funds at the age of maturity, but as they are able to view it, it also get them some knowledge of how these investments work, and hopefully will lead to them continuing them long after I stop paying in.
I appreciate their are fees involved again.
desolate said:
avinalarf said:
Donkey.....Looks like you've found a gap in the market.
I'll go 50/50 with you.
You'll have to do it for less than 2 quid a month as the product exists, it's just fee paying.I'll go 50/50 with you.
Raise 20m of private equity.
White label the existing product.
Don’t charge for it.
Lose a few million of the private equity through ‘buying’ essential market share as a first mover start-up.
Suck out the rest in massive salaries, big bonuses for hitting some made up numbers and buying some worthless shell companies that we own.
It’s a very well proven model of the last decade.
Deesee said:
Open a nationwide account then open the kids account, they are joined together on their app.
Thanks. Someone else has suggested Nationwide. This looks like the one: https://www.nationwide.co.uk/products/savings/futu...
Need to find out if the online access can be via an app and if that app will show a current account also.
Gassing Station | Finance | Top of Page | What's New | My Stuff