Children's savings accounts

As a parent, it is vital to know your child's money is secure. However, we also know it is important for children to feel in control of their money so that they can develop good money habits.

While parents cannot access a Nationwide savings account that is in their child's name, we do have other options and protections in place.

FlexOne Saver

To apply for our FlexOne Saver, the child must first have a FlexOne current account.

With the current account, if they are aged 11 to 17 and a half, they can choose between a cash card and Visa debit card:

• Cash cards can only be used to get money from cash machines and print mini statements.
• The Visa debit card can be used to make payments, but it is limited to £45 for contactless payments in the UK, instead of the usual £100. Parents can also restrict the ability to make contactless payments further for that little bit of extra security.

Children's Future Saver

This account is for parents and guardians who want to save money for their child's future.

Parents can put away up to £5,000 per year for their child aged up to 18 without worrying about opening an account in their child's name.

No, we do not offer Junior ISAs (JISAs).

At Nationwide, we only offer adult cash ISAs.

More about our cash ISAs

FlexOne Saver

When your child turns 23, we will transfer their FlexOne Saver account to a different instant access savings product.

We will be in touch before this happens to explain the options available and next steps.

Children's Future Saver

When your child turns 18 years and 6 months, we will transfer your Children's Future Saver account to an instant access savings product.

You will continue to hold the money in the account in bare trust for the child after the transfer.

We will be in touch before this happens to explain the options available and next steps.

There are lots of things to consider when choosing the right savings account for your child.

• Check the interest rate – is the account going to help your money grow at a fast enough rate?
• Choose the right level of access – while savings accounts should not be for your day to day spending, there might be times when you need to dip into them for support.
• Check there is a local branch nearby – taking your child to bank in a branch can help establish lifelong financial habits. We're keeping all our branches open until at least the start of 2030. That's our Branch Promise.
• Consider your provider’s social impact – we give 1% of our pre-tax profits to charities. Because we’re guided by a social purpose and aim to make communities better places to live.
• Keep your money safe – your money is protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, or £240,000 for joint accounts, per provider. Virgin Money’s business will become part of Nationwide on 2 April 2026, subject to Court approval. Once the transfer completes, your total combined deposits with Nationwide and Virgin Money will be covered up to £120,000 per person, or £240,000 for joint accounts. Learn more about the Virgin Money acquisition.

Yes, you can view your account balance and withdraw money from our child savings accounts using our fast and secure app.

If your child opens a FlexOne Saver, they can manage their account independently on our app.

Similarly, parents or guardians with a Children's Future Saver can manage their account using the app.

Both our children's savings accounts can be managed online, either through our secure app or by logging in to our internet bank.

Our app is full of useful features allowing you to bank securely how you want, when you want.

You can also visit any Nationwide branch to talk to a member of our team and bank in person.