The Nottingham Building Society children's savings account is an account for children and teenagers under the age of 17. Children over the age of 7 can open the account themselves, but if younger than 7 years old, a parent or guardian must do so on their behalf. Other features of the Nottingham Building Society children's savings account - called the Young Saver's Club - include:
- Minimum opening balance of just £1
- Maximum investment of up to £250,000
- Instant access
- In branch management
Those aged 11-16 may withdraw up to £250 a day from their Nottingham Building Society children's savings account without a parent or guardian.
Savings accounts for children can vary as other do - they offer different levels of interest, allow varying numbers of withdrawals a year, and sometimes require a period of notice before allowing you access to your money without implementing a loss of interest, which can sometimes be for several months.