Most junior bank accounts are accessible for children between 11-17 and will need a parent or guardian to be a joint account holder. Your child won’t be able to open a bank account on their own until they are at least 18.

We are living in a cashless world and so if you give them pocket money this would be most beneficial being sent into a bank account, as well as being a secure way for your child to spend.

If your child is asking for more financial freedom and you think they are ready to learn then a junior account is a great option for them.

The benefits of Junior bank accounts

  • Having a bank account is a great way to teach children financial responsibility as they will not learn this at school.
  • Teaching your child healthy spending habits from a young age will help them when they are adult and have their own money, they can carry these habit on.
  • Having a bank account will help your child feel a sense of independence and they can take their money seriously
  • They can learn how to budget and prioritise what they want to spend on.


A study done by Cambridge University found that children’s financial habits are formed by 7.

This is why it is so important to teach financial responsibility from a young age.

Parent controls

  • Junior accounts will have spending controls to protect you and your child.
  • There will be no overdraft feature so there is no risk of your child getting into debt, when their money is gone, it’s gone.
  • Some accounts will block certain places such as pubs, bars and off-licences so the card will not be able to be used here.
  • Some will set spending limits so your child cannot overspend.
  • You will be able monitor the spending habits of your child through a mobile app which you will both have access to.


At 18 the account will automatically become an adult account and your child will have full freedom. It is best that they have learnt how to correctly handle their money with your help before this transition happens.