Opening a bank account

No we have opened our little man one as we have family who live away and want to send him money etc :)

My kids both have bank accounts- I have put a small amount into them monthly since they were both a few months old… never too early to start saving for the future 😊

My mum opened one for me when I was younger,
Deposited money given as gifts and then a certain amount every birthday it gained interest and I had a nice little start of money to either spend or start as a basis of my savings

Mines 8 weeks and we’ve already done it, we’re putting £100 a month in and have give the details to grandparents to add to instead of buying random plastic toys 😅

Tbh I opened a credit union account for my little one, to build up money and if she needs a loan she’ll be able to get with with her money being saved over time

How does this work ? I would love to do this ? I’m a FTM .

You just walk into your local credit union with a 10er and baby’s birth certificate and prof of your address. Once that’s set up you can ask for the IBAN to the account to send money in each week/month from your bank on your phone.

Hey. I’ve been looking into this and figured for me as I have a Revolut black account, to open a savings Vault which has 4% daily interest. I recently transferred a huge chunk of my life savings (as I don’t own a home) into a vault, and I earn over £230 a month in interest I plan to use along with my maternity pay for the first year of baby’s life. Also if you have a friend with an account you’ll get £50 welcome money when you join if they send you a link. Xx

I haven’t bothered with a bank account. Any money he is given is going towards premium bonds. When he is old enough to spend the money he can then decide whether to withdraw it or leave it there. We have also made sure that any money won will also be automatically reinvested.

I managed to open a children’s saving account online, through my bank account. I can manage it through my online banking, was really easy to set up 😊

@Amy this is what I'd like to do too 🙂

We put his money in premium bonds, I did open a bank account as a great Aunty sent a £20 cheque but that’s all that’s in there! X