Childrens bank accounts

[mjb1]

I'm looking for a bank/building society account for my kids (specifically eldest, who is nearly 8, and the younger ones in a couple of years). Not bothered about savings interest, but I'd like something where they can fill up their piggy banks with loose change and pay it in when it gets to a bankable amount - only talking bags of coppers, 5, 10, 20p etc. We'd ideally like the account to be in the childs name, and it would be great if there was an option to pay in at the Post Office counter. It's mainly to teach them a bit about how money works, and seeing small change build up into a spendable amount, rather than building up a large nest egg of savings.

So far, the only one I've come across that looks anything close is the Santander 123 mini account (in trust for under 10 y/o). But that one doesn't appear to allow banking at the PO counter. Does anyone have any suggestions for kid's accounts that do?

[Bikesalot]

Many years ago (quite scary how quickly those years have passed actually)

I had a nationwide account as a wee nipper, came with a paying in book and such - not sure about paying in at the PO though...

Worth a look?

[fat80b]

mjb1 said:

. But that one doesn't appear to allow banking at the PO counter. Does anyone have any suggestions for kid's accounts that do?

We have some Lloyds young savers accounts, 2% interest. Described as managed in branch only, but we have been paying in at the post office counter (not sure if that is enough for you)

Don't the post office themselves do accounts?

[Downward]

Couldn't find one. Just opening a Santander mini 123 too.
I'll just transfer money from my account into it.

[TartanPaint]

There are a few apps which allow you to set up a "virtual" bank account, for the purposes of teaching money management.

Mum and Dad handle the actual cash so no real bank account is needed, but the kids can check their savings in the app, and start goals etc.

I quite like this idea, but haven't looked into it, just read an article way back in the day.

From a quick Google search for "virtual bank kids" and that sort of thing. (I haven't looked at any of these in depth):

https://www.bankaroo.com/
https://www.roostermoney.com/
http://firstkidbank.com
http://mykidsbank.org/

You get the idea. I'm sure there are others/better out there.