Children’s bank account – BarclayPlus
What you get
An account with tools and features that let you start to manage your money your way.
Withdraw up to £50 a day from cash machines
Shop in store or online, and withdraw up to £300 a day from cash machines 1
How to apply
Banking terms explained
For parents, carers and guardians
- To apply for a Barclays Visa debit card, you'll need permission from your parent or guardian.
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