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- If you’re aged between 13 and 17 years old and live permanently in the UK you can apply online. For children under age 13, the account must be opened in trust and managed by an adult (trustee). The trustee must be aged 18 or over, have parental responsibility for the child and have a Santander personal current account.
www.santander.co.uk/personal/current-accounts/123-mini-current-account
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Apply online if you're aged 13 to 17. The kids current account that helps young people take their first steps to financial independence. Learn more about our 123 Mini and apply online now.
1. Eligibility. To open this account you must be under the age of 18 and live in the UK. For those under the age of 13 the account must be opened by an eligible trustee on behalf of a child (beneficiary). For accounts held in trust, the trustee must manage the account on behalf of the child.
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Jun 26, 2016 · My daughter will be 13 in August and she would like to open a mini 123 account (for 11-18 year olds). I have been trying to help her through the online application process but, as she isn't a current Santander customer (we have a 123 account, but she doesn't) it mentions that she will need "up to two forms of identification (if you are a new ...
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- Our Verdict: Is The Santander 123 Mini Account Any good?
- Frequently Asked Questions
For a big, traditional bank, Santander’s range of accounts for kids really isn’t huge. There’s practically nothing in terms of savings accounts, except for a junior ISA. Junior ISAs allow you to earn interest tax-free, but they’re only suitable if you’re looking to stash away money on your child’s behalf as they won’t be able to access this money u...
The 123 Mini Current Account can be opened online by a young person aged 13–17, or they can open it in branch if they prefer. If you are a parent looking to open an account in trust for a younger child instead, you will need to visit a branch. Santander’s junior ISA can also only be opened in person (and no withdrawals or closures are allowed until...
It’s free. The current account has no monthly fee and there are no charges for cash withdrawals or card payments either. The only thing you really need to worry about is the foreign transaction fee. If your child uses the card on a trip abroad, expect them to be charged a fee of 2.95% for every transaction or cash withdrawal. There is an exception ...
Santander is a fully licensed bank, meaning it’s regulated by the Financial Conduct Authority (FCA) and deposits of up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS). Overdrafts are not available on children’s accounts, so there’s no need to worry about your child going into debt. For 123 Mini Current Accounts that ar...
Alternatives to children’s bank accounts
If a child’s bank account does not sound like the right choice, then there are other options available. 1. Prepaid cards As a parent you can purchase a prepaid card for your child. These are aimed for children aged 6 to 18. Parents can top up their child’s balance via an app and control where they shop, and also can teach them about good money habits. Learn more about children’s prepaid cards
There are a lot of plus points for the Santander 123 Mini current account. For a start, your child can earn a decent rate of interest on their balance – and the more they keep in their account, the more they’ll earn (up to a limit). Secondly, if the account is not held in trust, you’ll get a choice of a cash card or a debit card so you can decide w...
Yes, you can. Santander’s current accounts for children have to be opened in trust by an adult if the child is under 13, but once they turn 11, they can be handed over. If your kid is 11 or 12 when...The Santander 123 Mini current account can be opened for any child. If they are under 13, it will need to be opened in trust by an adult; if they are older, they will be able to open it themselves....Mar 12, 2014 · The Santander 123 'mini' current account pays 3% tax-free on balances between £300 and £2,000 and is available to children from birth up until they reach adulthood.
5 days ago · Some banks let you fill in an application form online, but you’ll probably still have to go into a branch to complete the application and provide proof of identity for both you and your child. Here’s our roundup of the best current accounts for children. Starling Kite (6-15)
Aug 20, 2023 · Student finance, Banks and Finance, Children. Rather than being frequently pestered by requests for money for sweets/clothes/cinema tickets, many parents decide to equip their children with their...
