Bank account

We used the Lloyds junior one I think, it’s locked till 16 and you can deposit into it as much as you want, and if you want to make any changes you have to go in store, there’s no way to access it online so kinda good for parents who might be tempted to withdraw.
Can’t remember the interest rate but think it’s same or just a little over national rates. And it was the best rates we found at the time after looking at a few. But obviously rate go up and down so we don’t depend too much on that, we just deposit into it monthly or whenever and leave it there.

I've a child's account with my bank that child benefit goes in, I dip in it to buy things
Then I've an ISA with shepherds friendly that has a set amount in each month that no one can touch

We have this one https://www.hl.co.uk/accounts/partners/junior-isa?theSource=PCHLJ&utm_source=google&utm_medium=cpc&utm_campaign=HL+Brand+-+Junior+ISA+PCHLJ&utm_term=hargreaves+jisa&utm_id=173481392&utm_source_platform=google_ads&utm_adgroup=Brand+-+JISA+-+FOS&utm_content=803416143725&gclid=CjwKCAjw2aPVBhBkEiwA0Cptt71OxILb_xUKecPLXWwp75DtlA4guPDUuSxw7RcPjz_55ONstL5v-xoCnS4QAvD_BwE&device=m&network=g&match=e&gad_source=1&gad_campaignid=173481392&gbraid=0AAAAADwZS082fe4KiDMaiGamTXjoYw5lD&gclid=CjwKCAjw2aPVBhBkEiwA0Cptt71OxILb_xUKecPLXWwp75DtlA4guPDUuSxw7RcPjz_55ONstL5v-xoCnS4QAvD_BwE

All his child benefit and money gifts go in here

We chose socks and shares cos it's longterm investment over years. We have a balanced risk (slightly higher return but not a high risk account) cos it's in its first year. We'll choose to a safer risk (less return) next year or next couple of years when there's a bit more money in

We have the Halifax Kids monthly saver that we pay a set amount into each month. Think it’s currently 5% interest.