Child and teen bank accounts

NatWest Rooster Money 

To give you a Rooster Card that can hold real money we are required to carry out a Know Your Customer (KYC) check to verify your identity. This isn’t a credit check, and won’t affect your credit score.

When you sign up to get a Rooster Card we ask you for your full name, address and date of birth. We then do the check by matching these details against public records and credit reference agency databases. That's why it is really important that the details you enter are accurate.

If we cannot match your details, we will ask you to upload photos of two documents to verify your identity. We store these photos securely in line with our terms and privacy policy.

Adapt Current Account

Make sure you have your child's ID as well as their current address and contact information. If your child is over the age of 16 and they have the relevant ID they could open the account online themselves. 

See the forms of ID we accept

Junior ISA

If you have parental responsibility for a child and are 18 or over, you can open a NatWest Invest Junior ISA for them if they are under 14 years old and living in the UK.

The account will be in the name of your child, but cannot be withdrawn until they turn 18.

First Saver

To open a First Saver, you need to be aged 18 or over, and be opening the account in trust for a child aged 16 or under, you both need to reside in the UK and you need to have a NatWest current account.

You can open and manage your account on our mobile app, online or by telephone.

To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself.

There is no minimum deposit required to open the account; no minimum deposit needs to be made on a regular basis; and there is no maximum balance limit.

Are there any fees for NatWest children’s bank accounts?

The Adapt bank account has no fees or overdraft.

A Rooster Card is free for NatWest customers with kids aged 6-17. It’s £19.99 a year or £1.99 a month for non-NatWest customers.

The right children’s account will depend on your family's needs - and what your kids will use it for. 

A kids bank account or card might be an option for managing their everyday spending and budgeting. These products are designed with regular payments in mind.

Whereas a child savings account is more about planning for long-term goals and life events. Saving towards a future wedding, first car or university, for example.

Finding the right account can be tricky. But we've pulled together all of our best children's accounts on this page to help you decide which could be the best fit.

What’s the difference between the Adapt and First Saver accounts?

Adapt is a current account with a card that’s designed for everyday spending (ages 11-17). While First Saver is a savings account held in trust by a parent for children under 16.

Yes, you can open a children’s account online today. Whether a parent or guardian needs to be present depends on the age of the child and the type of account you’re looking to open.

NatWest Rooster Money 

If you’re looking to set up a pocket money card for your kid online, it’s easy. All you need to do is sign up for NatWest Rooster Money and download the app. You’ll then be asked to give some information about you and your child. 

Adapt Current Account

You can open a child’s current account online today. If your child is aged 11 – 15, you will need to open the account for them. If they are ages 16 – 17 they can open the current account online themselves.

Junior ISA

If you’re looking to open a Junior ISA online today, you can apply via our website.

First Saver

You can open a child’s savings account online today.

You sure can. Our only requirements are that you’re an existing NatWest current account customer, you reside in the UK and your grandchild is under 16.

Yes, children’s accounts are covered by the Financial Services Compensation Scheme (FSCS). This scheme makes sure that if a bank fails your money is protected. Up to a total of £120,000 is covered by the UK’s deposit guarantee scheme.

Read the FSCS Leaflet (PDF, 3.7 MB) to find out more.

You can’t open a new Child Trust Fund (CTF) because this government scheme is closed. But you can open a Junior ISA where you can invest up to £9,000 per child for the current tax year free from income and capital gains tax. 

Just so you’re aware: a child with an existing CTF can’t have a Junior ISA too.

Already have a CTF with us? Visit Manage my Child Trust Fund. 

The benefits of a kids bank account can include:

• Money management skills. A child bank account can get youngsters thinking about spending and budgeting.
• Safeguards for parents. Kids can't go into debt, since there's no overdraft on their account. 
• Interest payments. Similar to a child savings account, kids could earn interest on their bank account balance. Check the account's terms and conditions.
• Different payment options. A child bank account can come with a card, so kids can buy things in shops and online. They might be able to pay with their phone too.
• Mobile banking. Kids may have the option to manage their account from an app.

There are lots of things to consider before opening a kids bank account online. These can include:

• the account's benefits and features, like interest rates and payment options
• any fees to set up or use a children's bank account
• minimum and maximum ages
• customer reviews and testimonials
• mobile apps and online banking options
• parental controls or limits
• whether a kids bank account is covered by the Financial Services Compensation Scheme.

It all depends on the bank, product, and age of the child.

Parents, guardians and grandparents with parental responsibility can usually open a bank account for their kids, if they meet all the criteria. For example, you might need to be an existing customer.

Children can often open a bank account themselves once they reach a certain age. With our Adapt account, this is the case for 16 and 17 year olds.