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Childrens Bank Accounts

  • 29-06-2009 9:06am
    #1
    Frankie70
    Closed Accounts Posts: 2 ✭


    Hi,
    I'm reading up on different type of Bank accounts for children. Recently my son made his Holy Communion, so naturally I want him to have his own account. Can anyone give me some advice on the best one and their opinion on Banking with Halifax. They seem to have a good continous incentive.
    Thank you for any helpful comments :)


Comments

  • #2
    BeQuiet
    Registered Users, Registered Users 2 Posts: 90 ✭✭BeQuiet


    A credit union account is the way to go ... No fees , and Saturday opening ...


  • #3
    boccy23
    Registered Users, Registered Users 2 Posts: 3,135 ✭✭✭boccy23


    We haved Post bank accounts for our boys. The money cannot be removed until they are 12.

    This has it's positives and negatvies.


  • #4
    foxy06
    Registered Users, Registered Users 2 Posts: 2,138 ✭✭✭foxy06


    BeQuiet wrote: »
    A credit union account is the way to go ... No fees , and Saturday opening ...

    I have this for the kids and have a standing order set up for them weekly.
    Will get them a bank account when they are older.


  • #5
    Greenmachine
    Registered Users, Registered Users 2 Posts: 5,063 ✭✭✭Greenmachine


    foxy06 wrote: »
    I have this for the kids and have a standing order set up for them weekly.
    Will get them a bank account when they are older.


    like a mini insurance fund :D nice


  • #6
    Frankie70
    Closed Accounts Posts: 2 ✭Frankie70


    Thanks for responces!
    Credit union sounds good and easy to set up. Have to do it quickly before he spends it all.


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  • #7
    LEIN
    Registered Users, Registered Users 2 Posts: 9,936 ✭✭✭LEIN


    I have been with Halifax for the past 2 years and find them great.

    Not too sure what the Child Saver is like. There is some detailed information here http://www.halifax.ie/index.jsp?p=105&n=134&a=0


  • #8
    BaileysComet
    Closed Accounts Posts: 56 ✭✭BaileysComet


    Would opening both a bank and a Credit Union account be an option? Or too much hassle?

    It may be advantageous to your children when they are applying for banking products such as loans or mortgages if they could say they've been banking for X years. For example if you opened a bank account for your 10 year old child and they want to apply for a mortgage when they are 25, they will be able to point out that they have been banking with *whichever bank* for 15 years.


  • #9
    run_Forrest_run
    Registered Users, Registered Users 2 Posts: 6,463 ✭✭✭run_Forrest_run


    crikey, for the Halifax acorn a/c if u fail to make at least 12 payments per year or make more than 2 withdrawals you only get a rate of 0.5%AER..wow, they really bust themselves there:rolleyes:


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