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Children’s bank account – BarclayPlus

A bank account designed for 11 to 15 year olds

  • Save and earn interest on your money
  • Track your money with Barclays Mobile Banking
  • Personalise your debit card with your favourite photo

 

What you get

An account with tools and features that let you start to manage your money your way.

Account features

Account features

  • Pay money straight into your account – and start saving your money
  • Earn 0.25% interest on your account
  • You only need £1 to open an account
Shape your banking experience

Shape your banking experience

  • Make your debit card unique with your favourite photo
  • Add images to your Barclays Mobile Banking app
  • Choose a cash card or a contactless debit card
Bank your way

Bank your way

Cash card

Cash card

Withdraw up to £50 a day from cash machines

Debit card

Debit card

Shop in store or online, and withdraw up to £300 a day from cash machines 1

Bank on your phone or tablet

Bank on your phone or tablet

You can use a tailored version of the Barclays Mobile Banking app with your BarclayPlus account. All you need is your smartphone or tablet.

Important information

  1. To apply for a Barclays Visa debit card, you'll need permission from your parent or guardian. If you're a parent, please note that if you give your child a gift of money that produces more than £100 of gross interest per year, the income will normally be taxed as yours. Most children don't pay tax on savings interest. If this is the case for you, ask for the R85 form at a branch when you open your BarclayPlus children's bank account or go to the HM Revenue and Customs site and then once we receive your completed form, we'll pay interest without deducting tax.

Interest is paid gross. Children are entitled to income tax allowances and the Personal Savings Allowance (PSA) in the same way as adults. If a child is liable to pay tax, any tax due on interest earned will need to be paid to the appropriate tax authority. For further information and guidance, please refer to HMRC’s website .

Please note: If a parent gifts money to a child that produces more than £100 gross interest in a tax year, the income is normally taxed as belonging to the adult.

Please click here for further information www.fscs.org.uk