However old your child is, opening a savings account on their behalf could really help set them up for the future. Grandparents, friends and other relatives can all pay into Standard Life Bank children's savings accounts so that by the time they are old enough to spend it, there should be a nice little nest egg waiting for them. Perhaps this could be used to help with university costs, buying a car, or even getting on the property ladder. Standard Life Bank children's savings accounts allow you to: