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NatWest savings accounts for kids
Our savings account for parents and carers wanting to support their child's future by kickstarting their savings. Take a look at the key features of our First Saver account to find out if it's the best children's saving account for your family's needs.
- Free, instant access kids saving account for under-16s.
- Hold the account in trust for your child, paying money in as you go until they turn 16.
- Easily managed in the NatWest app, alongside your other accounts.
To apply you must be 18+ and be opening the account in trust for a child who is under 16 years old. Both you and the child need to reside in the UK and you need to have a NatWest current account.
How does a child's savings account work?
Apply for a kids savings account
Anyone is able to open a First Saver account as long as you are aged 18 or over, and are opening the account in trust for a child who is under 16 years old.
Start saving for a kids future
Build the child’s savings in a way that suits you. Pop in just £1 to get started. This account offers instant access so you can withdraw cash whenever you need to.
Manage a kids savings at any time
Once opened, you can manage the NatWest kids account through our mobile app or online banking.
Account name: First Saver
What is the interest rate?
AER/Gross p.a. (variable)
Can NatWest change the interest rate?
Yes, the interest rate on the NatWest First Saver account is variable. It may be changed for any of the reasons set out in terms 9.2 of the Savings account terms. For example, to take account of Bank of England base rate changes or changes in the rates paid by other banks. If the rate is going down, we’ll give you at least 60 days’ notice. If it is going up, we’ll inform you before the change or shortly afterwards. Terms 9.2 (PDF, 281 KB) contains details of the notice we’ll give you.
What would the estimated balance be after 12 months based on a range of deposits?
Initial deposit at account opening
Balance after 12 months
How do I open and manage my NatWest kids savings account?
Everything in order? It’s easy to work with NatWest to set up a bank account for a child. You’ll simply need to:
- Take a picture of the child’s ID. This could be their passport ,or their UK birth/adoption certificate.
- Confirm your email address and mobile number.
- Use our mobile app, website or telephone service (mobile app criteria apply). To open a kids savings account in branch, bring along your own digital device, such as a mobile or tablet. Our staff can then guide you through the process.
- Remember that there’s no minimum deposit required to open the account. No minimum deposit needs to be made on a regular basis either and there is no maximum balance limit.
What’s involved when managing a First Saver account?
Here are the main things to keep in mind once your NatWest child account is up and running:
- We can only take instructions from the adult trustee. We can’t take any instructions from the child.
- You can use Round Ups with First Saver.
- When the child reaches the age they can manage the account themselves, (16 in Scotland, 18 elsewhere in the UK), you should transfer it into their name so they can access the funds.
Can I withdraw money from a kids savings account?
Yes, the adult trustee can withdraw money from this NatWest kids account without any notice. Just remember that daily limits will apply when making online, telephone or mobile banking withdrawals. You can learn more about these limits online or by contacting telephone banking.
Get ready to apply
Before applying for a kids saving account with NatWest, we need to check you're happy with a few things, and ask you a few questions up front. Then we can make your application as quick and simple as it can be.
Please review the important legal stuff:
Please take some time to review, print and/or save the important information. By clicking to proceed you are confirming that you have been provided with, and have acknowledged our important documents including the FSCS information sheet.
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