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Start saving for their future with our children’s savings account
Why choose a First Saver account?
- Help your child learn how to save and manage money
- Earn interest on balances each month, with instant access
- Free Pigby piggy bank with every account (subject to availability)
In detail: First Saver
What's the interest rate?
Can NatWest International change the interest rate?
Yes, the interest rate is variable. The rate may increase or decrease for any of the reasons set out in Term 10.3 of the Personal Banking Account Terms and Fees to account for the Bank of England's base rate changes or changes in the rates paid by other banks. If the rates are going down we'll give you at least 60 days' notice. If they are going up, we'll inform you before the change or shortly afterwards. Term 10.4 of the Personal Banking Account Terms and Fees contain details of the notice we'll give you.
How much interest could I earn?
How do I open and manage the account?
- All parties must be resident in Jersey, Guernsey, Isle of Man or Gibraltar to apply.
- If you’re aged between 7-16 years, you can open an account in your own name with the consent of your parent or guardian.
- If you’re aged 18 years or over, you can open an account in trust for a child aged up to 18 years.
- If you’re resident in Gibraltar, you must already be an existing NatWest International customer to open the account.
- The account can be opened and managed online, in branch or by telephone banking.
Can I withdraw or transfer money?
Yes, this is an instant access savings account meaning that you can withdraw or transfer the money at any time.
Account held in trust: you can withdraw money in branch, or transfer to any other account based in the UK, Channel Islands, Isle of Man or Gibraltar (online, by telephone or on the mobile app).
Account held by child: children under the age of 11 can only make withdrawals in branch.
Once they turn 11 years of age they may register for our telephone and online banking services.
There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking. You can find out the current daily limits by calling telephone banking or asking in branch.
Definitions
AER: Stands for Annual Equivalent Rate. It shows you what the rate would be if the interest was paid and compounded each year.
Gross Rate: This means the interest rate you are paid without deduction of income tax.
p.a.: Per annum (per year).
Ready to apply?
Before you apply, we've outlined the eligibility requirements for the account below, along with our terms and conditions to make sure it's the right account for you. If you're happy, we'll run through a few quick questions to make your application as easy as possible.
You can apply for a First Saver if you are:
- aged 18+ if you're opening the account for a child under 16, or aged 7 to 16 (with parent/gaurdian consent if you're opening the account for yourself, and
- resident in the Channel Islands, Isle of Man or Gibraltar (you must be an existing customer with us if you are resident in Gibraltar)