Barclays Children's Savings
Barclays Children’s Savings account enables interested customers to open lucrative banking and saving opportunities for the benefit of their children. These accounts can be managed till the registered wards cross the age bar of 18 years and directly benefit from the accumulated amount. Being marked as and instant access account, it enables the parents to handle funds and use it for pre determined purposes pertaining to the benefits of the child in question.
The Barclays Children’s savings account furthermore allows the account initiator to earn profitable interest on the gross amount saved over regular intervals. If most parents are thinking of regulating their child’s expenditure, this one such account that helps them out in achieving their money saving plans.
In order to access the account proceedings, one needs to have an active Barclays children’s saving account. In most of the cases, wards below 16 years don’t have the privileges to access their accounts without parental interference. Such accounts can be initiated under the name of a single child. This means if a customer is interested to open such accounts for all their children, each one should have an individual account. The initial deposit amount requires being at least £1. The account is specifically exempted from barring clients to keep limited fund. The maximum account balance is thus regarded to be limitless. Barclays Children savings accounts get converted into an access account when the registered child turns 18. This would mean the concerning party has to claim the secured fund; all transference and transactions are monitored by the Laws of England and Wales. The interest rates are functional on a tiered system. This would mean you can enjoy the benefits of interest rates ranging from 0.25% AER to 0.25% on the basis of annual gross interests. The savings account largely directed towards helping guardian, parents and even child trustees to ensure fund accumulation on behalf of minors.