Best Children's savings accounts

Child savings accounts work similarly to regular savings accounts for adults. Money can be deposited into the account and earns interest over time. The money in the account legally belongs to the child, who can manage the account themselves from an age specified by the account provider.

Yes, a child can have more than one savings account registered in their name. Most providers set a limit of two accounts per child.

Yes, a grandparent can open a savings account for their grandchildren, provided it's not a Junior ISA. They'll need to submit some documentation including the child's birth certificate. Parents and guardians can also open savings accounts for their children.