Whether you’re adding money to help them along in the future or whether they’re saving their pocket money for something special, children’s savings accounts can be a great idea. As well as teaching kids the valuable lesson that saving pays off, a good savings account will add interest, meaning their money is earning more cash.
If your child was born between 1st September 2002 and 2nd January 2011 then they should have a Child Trust Fund (CTF) account in their name. These were initially designed to encourage parents and other family members to save for the child’s future. With the introduction of Junior ISAs for children born after this point,