Barclays Children’s Savings
Barclays Children’s Savings Start Saving for Their Future Today
Ensuring a secure financial future for your child begins with smart savings today. At Barclays, we offer a Children’s Savings account tailored to help you achieve this goal. Whether you're already banking with us or looking to join, opening an account is straightforward and rewarding.
Benefits of a Barclays Children’s Savings Account
Competitive Interest Rates
Our Children’s Savings account offers competitive interest rates, designed to maximize your child's savings:
- Balances from £1 to £10,000: 2.68% AER / 2.65% gross p.a. (variable)
- Balances over £10,000: 1.16% AER / 1.15% gross p.a. (variable)
Interest is calculated daily on your statement balance and credited on the first working day of each month. This tiered structure ensures you earn the higher interest rate on the initial £10,000 of your balance, with the remaining balance accruing at the lower rate.
Easy Access and Management
You have instant access to your funds and can manage your account through various convenient channels:
- Barclays Mobile App
- Online Banking
- Telephone Banking
- In-branch Services
Opening an account requires a minimum of just £1, and you can set up a standing order for regular savings.
Flexibility in Withdrawals
We understand that flexibility is crucial. That's why you can withdraw money from the Children’s Savings account at any time without penalties.
Opening and Managing Your Account
Eligibility
To open a Barclays Children’s Savings account:
- You must be at least 18 years old, saving on behalf of a child under 18.
- You must be a UK resident.
How to Apply
Choose the method most convenient for you:
- In-branch: If you're new to Barclays, visit your nearest branch with your ID, proof of address, and the child’s birth certificate.
- Video Banking: Current Barclays customers can opt for a video appointment. Ensure you have the child’s birth certificate ready. Each appointment lasts about 45 minutes, and only one account can be opened per session.
Account Transition
When the child turns 18, the Children’s Savings account will convert to an adult instant-access account. We will notify you of the new terms unless you choose to make alternative arrangements.
Additional Savings Options
If the Children’s Savings account isn’t exactly what you’re looking for, Barclays offers other savings solutions:
Fixed-rate Savings Bonds
Secure your money in a fixed-rate bond and enjoy a guaranteed return. Perfect for those committed to long-term saving.
ISAs
Take advantage of tax-free interest with instant access to your entire balance. Utilize your 2024/2025 ISA allowance of £20,000 to maximize your savings potential.
Terms and Conditions
For more detailed information, please download our Terms and Conditions (PDF, 128KB).
Get Started Today
Investing in your child's future has never been easier. Whether you're a new or existing customer, take the first step by booking an appointment today.
- Book an appointment: Visit our website or find your nearest branch.
- Existing customers: Apply via a video appointment or in person at a branch.
Start building a strong financial foundation for your child with Barclays Children’s Savings account. For more information and to compare our other savings products, visit our website.
By choosing Barclays, you're not just opening a savings account; you're making a commitment to your child's future financial security. Let's build that future together.