What age can a child have a bank account?

Children can have savings accounts from birth (operated by a parent). From around age 7-11, they can have their own children's current account with a debit card. From 11+, there are more options including accounts designed for teenagers. At 16, they can open most standard current accounts. At 18, they have full banking access including overdrafts.

Are children's bank accounts safe?

Yes. Children's accounts are protected by FSCS up to £85,000, the same as adult accounts. Most children's debit cards have spending limits and cannot go overdrawn, so there is no risk of your child building up debt. Parents can usually monitor the account through their own app.

Should I give my child a bank account or cash?

Bank accounts (especially with debit cards) teach children how modern money works — digital payments, budgeting apps, and saving. They are more practical for older children who may want to shop online or be paid for jobs. Start with cash for younger children, then introduce a children's account from around age 7-11.

Children's Bank Accounts UK — Best Accounts for Kids and Teens | PocketWise

Teaching children about money from a young age builds essential life skills. Children’s bank accounts — from simple savings to teen debit cards — offer hands-on experience with managing money responsibly.

Accounts by Age

Age	Account Type	Features
0–6	Children’s savings account	Parent-controlled, grows savings
7–10	Children’s current account	Debit card, limited features, parental controls
11–15	Teen account	More independence, budgeting tools
16–17	Teen or standard account	Near-full banking, some overdrafts
18+	Adult account	Full access including credit

Best Children’s Savings Accounts

Provider	Account	Rate	Features
NS&I	Junior ISA	Variable	Government-backed, tax-free
Nationwide	Smart Limited Access	4%+	Good rate, limited withdrawals
Halifax	Kids’ Regular Saver	5%+	Monthly deposits up to £100
Coventry BS	Young Saver	4%+	Easy access
Junior ISA	Various providers	Up to 5%+	Tax-free, locked until 18

Best Children’s Current Accounts (7-15)

Provider	Account	Age	Debit Card	App	Parental Controls
GoHenry	GoHenry	6–18	✅	✅	✅ Excellent
RoosterMoney	Rooster Card	6–17	✅	✅	✅ Excellent
Starling	Kite	6–16	✅	✅ (via parent)	✅ Good
NatWest	Adapt	11–17	✅	✅	✅ Good
Nationwide	FlexOne	11–17	✅	✅	Limited
HSBC	MySavings	7–17	Via parent	✅	Via parent
Revolut	Revolut Junior	6–17	✅	✅	✅ Excellent

Comparison: GoHenry vs Starling Kite vs RoosterMoney

Feature	GoHenry	Starling Kite	RoosterMoney
Monthly fee	£3.99	Free	Free (basic) / £2.99+ (card)
Age range	6–18	6–16	6–17
Parental controls	Excellent	Good	Excellent
Spending limits	Customisable	Customisable	Customisable
Saving goals	✅	✅	✅
Pocket money automation	✅	Via parent’s Starling	✅
Chores/earning tasks	✅	❌	✅
Card customisation	✅ (extra fee)	❌	✅
Instant notifications	✅	✅	✅

Best Teen Accounts (16-17)

Provider	Account	Features
Starling	Standard account	Full features, no overdraft until 18
Monzo	16+ account	Pots, budgeting, no overdraft
NatWest	NatWest Adapt	Full current account features
HSBC	MyAccount	Standard current account
Nationwide	FlexOne	Savings link available

Features Parents Should Look For

Feature	Why It Matters
Parental controls	Set spending limits, block categories
Instant notifications	See what your child spends
Chores/tasks	Teach earning through work
Savings goals	Encourage goal-setting
Spending insights	Review where money goes
Card freeze	Quickly disable if lost
No overdraft	Cannot go into debt

Teaching Money Skills by Age

Ages 6-10

Lesson	How to Teach
Money has value	Let them earn pocket money
Saving for goals	Visual savings goals in app
Spending choices	Limited budget for toys/treats
Digital vs physical	Show how card spending = real money

Ages 11-15

Lesson	How to Teach
Budgeting	Fixed pocket money, they decide spending
Saving percentage	Save 20% of any money received
Delayed gratification	Wait for bigger purchases
Comparing prices	Let them shop around
Needs vs wants	Discuss purchases

Ages 16-17

Lesson	How to Teach
Managing a current account	Real account responsibility
Earning money	Part-time job, managing income
Bills and commitments	Phone contract responsibility
Credit dangers	Explain before they turn 18
Banking choices	Compare accounts together

Junior ISAs vs Savings Accounts

Feature	Junior ISA	Children’s Savings
Tax-free	✅	❌ (uses child’s allowance)
Access	Locked until 18	Varies (often easy access)
Annual limit	£9,000 (2025/26)	No limit
Control	Child at 18	Parent/child depending on account
Best for	Long-term saving	Short-term goals, teaching

See our Junior ISA guide for full details.

Fees and Costs

Account	Monthly Fee	Card Fee
GoHenry	£3.99	Included
RoosterMoney	Free–£4.99	Card on paid plans
Starling Kite	Free	Free
Revolut Junior	Free	Free
High street banks	Usually free	Free

Opening an Account

You Will Need	Detail
Parent ID	Passport or driving licence
Child’s ID	Birth certificate usually sufficient
Proof of address	Utility bill, bank statement
Child’s agreement	Older children may need to consent

Process

Step	Detail
1	Choose account type
2	Apply online or in branch
3	Verify identity
4	Receive card in post
5	Set up parental controls
6	Transfer first funds

For long-term saving for children, see our Junior ISA guide and for teaching budgeting, see our budget planner guide.