The best Junior bank accounts

Posted: 18th March 2024

Courtney Evans

Share this article

If you have decided that your child is ready for their first bank account and ready to learn about financial responsibility then below are some great options for junior bank accounts.

For children between 11-17 years old
Earning interest at 2.7%
The Parent or guardian will need an existing account with NatWest before opening a junior account
You will need to preset proof of ID and proof of your current address
This account will work through apple pay if your child has a mobile phone making it simple for them to use.

For children between 11-15 years old
They will gain access to a current account as well as a savings account
No interest will be earnt on the current account
Spending in over 18 outlets will be blocked
Support for your child to save responsibly
The Parent or guardian will need an existing account with NatWest before opening a junior account

For Children between 11-15 years old
Access to a current account as well as a savings account
There are no monthly fees to keep this account
You and your child will receive access to online banking through an app so you can have full visibility of their spending habits
No overdraft is offered to prevent the risk of debt forming

For Children between the ages of 6-18 years old
Helps to develop healthy spending habits early on
There is a monthly fee of £3.99 for the regular version which included one free top up, from then on top ups will be 50p each time
The GoHenry plus option will cost a monthly fee of £5.99 which included features such as an interest rate on savings of 4.5% as well as unlimited free top ups.
The account comes with spend notifications which are sent directly to the parents or guardians phone.
It comes with an app where the parent or guardian can set spend limits and other controls.

For children ages 11-17 years old
You will be able to manage money as well as earn interest, teaching your child how to control their finances and run their own bank account
You will have access to a banking app to track spending
They will be able to make contactless payments of up to £45 to limit their spending
There are no fees to open this account