Santander's the only one most can open online, but it only pays the most if you've a specific amount of savings in it... - Santander 123 Mini* pays 3% AER variable but only on £1,500 - £2,000. Age 13 to 18 (0 to 18 if parent banks with Santander)
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.
The Santander 123 Mini Current Account is available for teenagers aged between 13 and 17. Some of this account's main features include monthly interest worth a 3% annual equivalent rate when the balance reaches £1,500.
Santander 123 Mini* 1% if you've £1 to £999.99. 2% if you've £1,000 to £1,499.99. 3% if you've £1,500 to £2,000. 0% above £2,000. Yes. More info. 13-17: Must apply online
123 mini current account: This account is aimed at children, paying a variable rate of interest on balances up to a certain threshold. You can choose either a debit card or a simple cash card, and there’s no fee.
HSBC – 5% on up to £3,000. Santander – up to 3% on up to £2,000. Looking for a card that children can use abroad? Our top-pick cards for under-18s offer near perfect exchange rates, plus most let you set spending limits and monitor via apps. Why should I get a card for my child?
When you open a 1I2I3 Mini Current Account you become part of 1I2I3 World, giving you access to a range of 1I2I3 Offers. When applying for future products, if you’re accepted and there is an associated 1I2I3 Offer, you’ll automatically qualify.
But if you can’t decide, the Santander 123 Mini account offers a bit of a compromise. It works like a standard child’s current account but, unlike its competitors, it pays a tiered rate of interest depending on how much money you have in the account. Here’s how it works.
The new 123 ‘mini’ current account pays three per cent tax-free on balances between £300 and £2,000 and is available to children from birth up until they reach adulthood.
The new 123 Mini, available for anyone up to the age of 18, pays a market-leading rate of up to 3pc interest tax-free