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Children's Bank Accounts

Compare our best children’s bank accounts

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Why compare children’s current accounts with MoneySuperMarket?

  • It’s super fast

    We'll find kids’ bank accounts from leading providers across the market and show you them in seconds

  • Easy to follow

    We’ll show you the key features of each account, such as rate of interest, plus bonuses and restrictions

  • Apply online

    Once you’ve chosen the children’s current account you want, click through and apply online in minutes

What is a kids’ current account?

A kids’ current account is a bank account for those aged under 18. For the most part, they work in a similar way to regular current accounts, although there might be more restrictions such as spending limits and parental controls.

Children’s current accounts are generally aimed at kids aged 11 to 17.

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How do children's current accounts work?

Children’s banks accounts don’t differ greatly from regular bank accounts in the UK, but there are a few points to consider: 

  • Apply online or in branch

    The easiest way to open a kids’ bank account is online. You’ll need some identification and if the child is under 16, they'll need help from a parent or guardian

  • Using the account

    Anyone can deposit money and the account holder can withdraw it as normal, but there might be some restrictions in place such as no overdraft facility

  • Adding parental control

    Depending on the account, parents will have different levels of control. For example, they can set spending limits or block online spending

What are the advantages of opening a bank account for my child?

Children’s bank accounts in the UK generally run from the age of 11 to 17 and differ slightly from regular current accounts. But most children's accounts will have a wealth of useful and practical features, such as:

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    Daily withdrawal limit

    You can set a hard limit on how much cash they can withdraw 

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    Earn interest

    Some children’s accounts offer attractive interest rates

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    Money management

    Online, mobile and phone banking to check balances and transfer money

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    No overdraft facility

    Your child can only spend what they have in their account

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    Text and email alerts

    A handy way to let your child know if money in their account is running low

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    Open an account with £1

    Often you can open an account with just £1 - so it’s easy to get started

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    No monthly fees

    Most kids accounts have no fee but some charge if you want a debit card

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    No automatic debit card

    You’ll usually need to give your child permission for a debit card 

How to choose the best kids' current account

There’s no such thing as a single best children’s bank account as the ‘best’ will depend on your individual needs and what your child wants from the account. But there are several features to consider when making your decision:

  • Look for high interest rates

    Search for accounts with higher interest rates to help your child’s money work harder. Some accounts have tiered interest and may cap the total interest they’ll pay. 

  • Seek out bonuses and perks

    Some accounts will feature attractive perks, such as discounted driving lessons for when your child turns 17 and cashback or rewards. 

  • Is the account easy to open?

    While for some accounts you may have to go into branch to sign up, if you’re already an existing customer you might be able to do it online.

  • Look for parental controls

    You can set maximum limits for how much your child can spend each week, where they can use their debit card and if it can be used online.

What are the alternatives to a children's current account?

If you’d prefer not to open a children’s current account, there are some other options, including: 

  • Children's savings account

    Similar to a current account but designed for savings rather than regular spending. There are different types of children savings accounts in the UK, such as easy access, regular saver and fixed rate accounts. 

  • Junior ISA

    Junior ISAs are a type of tax-free savings account for children under 18. You can invest up to £9,000 tax-free in a Junior ISA each tax year, with the money being unavailable to access until your child turns 18. 

  • Prepaid cards

    You can load cash onto your child’s prepaid card for free, and they’ll be able to use the card to withdraw cash and make purchases online. Some kids’ accounts offer additional benefits such as budgeting tools and savings targets. 

What bank account should a teenager open?

The right account for a teenager is one that suits their needs best. First and foremost, the account should enable them to easily manage their money. But you should also look out for a good rate of return and rewards for signing up.

A teenager should also have an honest conversation with their parent or guardian about what type of controls should be put in place, so they use the account wisely as they learn to handle money. 

Emma Lunn

Our expert says


You can open a bank account for your child once they turn 11. A children’s bank account works in a similar way to a normal adult current account although there may be limits on spending and cash withdrawals. There’s no need to worry about your child getting in debt, as kids’ current accounts don’t have an overdraft. Parental controls help you monitor spending and online purchases and can open up conversations about money.

- Emma Lunn, Author

How to apply for children’s current accounts with MoneySuperMarket

We take the hard work out of finding an account to suit your child’s needs.

  • Browse our providers

    Search the market to find the best children’s current accounts, including any incentives

  • Filter and sort

    Use our filters to narrow your options based on the type of account you’re looking for

  • Click through to provider

    When you find the deal you want, click to the provider to complete your application

It’s unlikely your child’s current account will be taxed. 

Both children and adults have a personal savings allowance which changes each tax year. That means everyone can earn up to this amount before it gets taxed. 

This is boosted further as children are also eligible for the £5,000 starting rate for savings and the £1,000 personal savings allowance, so they can earn £18,570 this financial year before paying tax. This takes most children’s savings out of the tax bracket.

If you are giving your children money to put in their own account, be aware that if the money earns more than £100 in interest a year, the whole lot will be taxed at your tax rate. 

The £100 limit doesn’t apply to money:

If a child is liable to pay tax, any tax due on interest earned will need to be paid to the appropriate tax authority. For more information, see the GOV.UK website

Banks want to attract new customers so most familiar high street banks in the UK offer children’s current accounts often with incentives to entice you to sign-up. They are not your only option though. Newer so-called challenger banks -including the new digital banks - are also starting to offer children’s current accounts, so there should be plenty of choice. 

Your child’s bank account will usually automatically upgrade to a standard adult current account when they turn 18. If your child has a savings account, their bank may offer them a children’s current account once they reach the age of 11.

The Current Account Switch Service pledges to make switching current accounts simple, reliable and stress-free. It’s a guarantee you’ll be switched to your new bank account – in this case children’s bank account – without any mistakes. You simply open the new account and pick your switch date. 

A week before your new bank will start setting up your new account and any payments that go to your old account will be redirected. When switch day arrives, the balance will move to your new account and your old one will close.

How you manage your child’s current account depends on your relationship with your child and how much support they need in managing their finances.

Younger children typically need more parental controls in place, but this isn’t always the case. Being able to adjust the spending limit, for example, can allow you to tighten and relax controls as you see fit. 

Children can open their own current account once they turn 16. But if they’re younger they’ll need a parent, grandparent or guardian to do this for them. 

If you’re an existing customer of the bank where you want to open a new account for your child, you may only need proof of your identification, but terms and conditions will vary.

Yes, children’s bank accounts will offer debit cards which will allow your child to make purchases and withdraw cash from an ATM. Parental controls can still be put in place.

Yes. Children’s accounts are generally covered by the Financial Services Compensation Scheme which protects the first £85,000 of your money within each financial institution.

This means that even if the bank falls into financial difficulty the money is safely backed by the Government.

A current account is a bank or building society account that lets you manage your day-to-day spending.

You can have your salary paid into it, set up direct debits and standing orders, and negotiate an overdraft. Some accounts also pay interest on balances and offer cashback on spending.

There are lots of types of current account to suit all sorts of personal situations. These include:

  • Standard: For managing ordinary income and expenditure, usually with a debit card, a cheque book and an overdraft

  • Basic: No-frills accounts which come with fewer features, designed for people with bad or no credit history

  • Packaged: These come with various bonuses, including things like interest-free overdraft, insurance add-ons and discounts for other banking products. They usually have monthly fees and eligibility requirements

  • Student/graduate: Current accounts designed to cover the particular financial pressures faced by students and recent graduates, normally including larger interest-free overdrafts

  • Joint: Accounts designed for two or more people, to cover household expenses or couples’ expenditure

  • Children’s: These have few features and are designed to introduce children to banking and saving

Some current accounts come with extra benefits for the account holder, like a cash bonus for signing up, better interest rates or even breakdown cover. The accounts might only be available to certain customers, like those with high credit ratings.

Some current accounts include fees if you use them in a certain way – some banks might charge you for resending a printed account statement or for accessing your account abroad. You may even be charged a fee for going into your overdraft without telling your bank beforehand.

The traditional idea of banking is being changed by digital or challenger banks, who provide most of their services through the internet or a mobile app rather than in branch or over the phone. Many are designed to be more open and transparent with customers and less focused on banking products.

It’s more attractive than ever to compare current accounts: healthy competition means there are a number of incentives available for those willing to switch. But if you don’t compare current accounts, you could be missing out on a great deal – and some free cash!

Switching current accounts is simple because most of the legwork is done for you and, at the end of it, you can benefit from an account that’s much better for your pocket and lifestyle.

If you’re looking for the best current account, you’ll benefit from a wide range of products to choose from. Many of the best current accounts offer:

  • High interest rates

  • Cashback and rewards on spending

  • Competitive overdraft rates

The best current account is different for each person, as it depends on your spending habits and level of savings.

Switching current accounts has never been simpler, and many providers offer lucrative incentives for moving your account to them.

The Current Account Switch Guarantee makes switching current accounts very easy indeed, and your bank will do most of the legwork for you, including transferring money, direct debits and standing orders, and informing your employer.

When you switch your current account to a new bank or building society, you could get £100 or more in cashback as a reward for switching. Just make sure that you’re applying for an account that suits your needs, not just the one with the highest cashback.

If you tend to stay in credit and never go overdrawn, you could get rewarded regularly by your bank or building society. By switching to a rewards current account, you could get a monthly reward payment and earn cashback on your spending. Some providers will also offer a cash incentive for switching your current account to them.

Many rewards accounts have requirements such as paying in a minimum amount eachmonth, or having a minimum number of direct debits, so make sure you can meet the criteria to get the rewards.

If you’re fed up with getting poor customer service from your bank, switch your current account to a provider that’s known for looking after its customers.

As well as making your life easier, some of these accounts offer extra benefits such as competitive overdrafts or cashback for switching.

It’s a good idea to check your account statements regularly, because this could stop you going into your overdraft without knowing. It can also be a good way to double check whether there are any transactions you don’t recognise.

Look for a provider with good customer service, because you never know when you’ll need to call them up or go into a branch to fix an issue.

Remember to be careful with your PIN and account details; you should keep this information safe and protected. Remember, your bank will never ask you to reveal details like your PIN, either on the phone, in person or through an email.

Your bank will almost certainly have an app that lets you manage your account online, and some may even be based on their app. This is excellent for quick and easy money management.

Each bank has different ways of transferring money. Some require you to use a card reader when transferring any sum of money, while others only use it for transactions over a set amount.

Other banks do not use card readers at all, so if money transfers are something you might be doing a lot of, it’s worth checking the policy details to see how easy it is to make payments on the go.

If your current account comes with benefits such as air miles, you might want to check whether you really need them. For example, if you’re not a frequent flyer, is an air miles bonus worth the extra cost?

Switching current accounts is easy with MoneySuperMarket, and it could mean you get to take advantage of better interest rates and cashback rewards, vouchers and other incentives.

The process of switching will take a maximum of seven working days with the Current Account Switch Service – all your direct debits should be switched over automatically, and everything should be taken care of by your new account provider.

You can compare current accounts with MoneySuperMarket, and when you're ready to make the swtich, all you need to do is give your chosen new bank a few details such as your name, address and date of birth. You will also have to supply some documentation to confirm your identity and address.

You’ll be able to look at a number of important factors, like the interest rates they’ll pay, the overdraft rates they’ll charge, any rewards they provide, and any costs involved in holding an account.

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