So that you have control over your child's money, preventing it from getting blown on computer games without your say so, the RBS children's savings account, called the Rainbow Account, has a passbook which is required for withdrawals and is issued to a parent or guardian until you decide when the time is right to transfer the responsibility over to your child. The RBS children's savings account comes with a number of benefits and features, such as:
- Available for 0-21 year olds
- Open with a minimum deposit of £1
- Deposit savings at any time
- Instant access
- Free money box
An RBS children's savings account can help your child to learn the advantages of saving from an early age.