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FirstSaver
When your child is looking for somewhere to save their spare cash, it’s nice if they can get a little more back. Our FirstSaver offers just that, meaning that when your child pays money into their account, they can see it grow. Plus any time they want to get their hands on their savings it’s absolutely fine by us.
If your child is under 18, our FirstSaver account makes it easy to start saving. They only need £1 to get going and if they’re 7 or over they can even open the account themselves. For those aged under 7, a parent, guardian or grandparent can open the account for them. And there are no fees or charges to worry about.
| Summary Box Key Product Information for our Savings Account |
|
|---|---|
| Account Name | FirstSaver |
| Interest Rates (AERs) | The Interest rate payable is variable. |
| Tax Status | Interest is paid net*. Interest can be paid gross*, provided the necessary HM Revenue & Customs form has been submitted and the account holder is eligible. Just ask for an R85 form when you open the account. |
| Condition for bonus payment | No bonus payments exist for this account |
| Withdrawal arrangements | There are no restrictions on withdrawals |
| Access | Britannia branch and by post |
Features & Benefits
- Minimum balance of £1
- Maximum investment of £1,000,000
- Interest is paid annually on the first working day after 1st January by adding it to this account
- Passbook option lets them withdraw up to £500 per day in cash, or larger amounts by cheque
- Save as and when it suits your child
- You can set up a monthly Direct Debit to boost their savings
- ‘Quickcash’ card option available once they’re aged 12
- To boost your child's savings why not pay in your child benefit?
Another feature of the FirstSaver Account is the 'Quickcash' Card option, which has daily limits for cash withdrawals depending on their age:
| Age | Daily Limit |
|---|---|
| 12-13 | £10 |
| 14-15 | £50 |
| 16-17 | £100 |
*For an explanation of terms such as AER, Gross and Net, please see our glossary 
.
Britannia is a trading name of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS) that would pay compensation to eligible customers in the unlikely event of the Bank becoming insolvent. Find out more
The Co-operative Bank p.l.c. Registered office: P.O. Box 101, 1 Balloon Street, Manchester, M60 4EP. Registered in England and Wales No. 990937.
The Co-operative Bank is authorised and regulated by the Financial Services Authority (No. 121885), subscribes to the Lending Code and the Financial Ombudsman Service and is licensed by the Office of Fair Trading (No. 006110).
Credit facilities provided by The Co-operative Bank Plc, are subject to status and not available to non-UK residents or anyone under 18 years of age. Policy Supplier terms and conditions apply.
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© 2012 The Co-operative Bank p.l.c. trading as Britannia