Everything you need to know about kids bank accounts

Financial basics · 9 June 2026Team Revolut

Opening a bank account for your kid is more than just a milestone — it's a building block that lays a foundation for their future. Kids bank accounts offer a hands-on way for children to learn about saving, budgeting, and the value of money, all while fostering a sense of responsibility and independence.

If you're new to the world of kids bank accounts, you probably have tonnes of questions — and we're here to answer them. In this guide, you'll learn how to open a bank account for your kid and discover powerful ways to use it as an educational tool.

Curious about alternatives to traditional bank accounts for kids? Keep reading to find out more about the Revolut Kids & Teens account, a digital account for kids with a money management app designed specifically for them. With easy-to-use analytics and savings tools, they can learn the basics of banking in a fun and safe way.

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What are kids bank accounts, and how do they work?

Kids bank accounts are similar to current accounts for adults, but they're adapted for minors under 18, with age-appropriate security measures. As a parent or guardian, you usually need to give your authorisation for your child to open an account. You can also monitor their transactions, set spending limits, and turn certain features on or off.

Kids accounts generally come with a debit card, so your kid can make purchases in shops and online. They can also withdraw cash at ATMs, sometimes with certain limits, and receive payments in their account.

One main difference between kids accounts and standard current accounts for adults is that kids accounts don't have overdrafts. This offers extra protection to keep them from going into debt. Many accounts for minors also have low maintenance fees or none at all.

Kids accounts can teach children the basics of banking in a safe environment. Through practise, they learn how to track their spending, create a budget, and save for specific goals. Some banks also offer additional educational resources, like online games and guides designed to help children understand financial concepts.

What are the benefits of kids bank accounts?

Kids bank accounts obviously have tonnes of practical benefits, but there's even more to them than meets the eye. They're also powerful educational tools that help kids develop the hard and soft skills they'll need in the future. Here's how:

They provide hands-on experience with money management.
There's no better way to learn a skill than by practising it. Having a bank account from a young age lets kids learn about saving, spending, and the value of money through experience.
They help kids develop healthy financial habits.They often come with tools that allow kids to set savings goals and track their spending. This teaches them the importance of planning and self-control.
They foster independence and confidence. By managing their own money, kids can learn to make their own financial decisions and develop confidence in their financial skills. This makes them less likely to rely on others for support in the future.
They provide age-appropriate guardrails. With parental controls and security features for minors, these accounts provide a safe space where kids can learn to manage their money.
They usually come with fun financial literacy resources. Kids accounts often come with tools designed to teach money management in a way that even the younger ones will find enjoyable — think games, stories, colourful illustrations, and more.

Curious about financial education? Explore financial literacy resources for kids and money management for teens.

Opening a kids bank account: all your questions answered

Ready to open an account for your kid? Let's go over some of the basics so you know what to expect.

At what age can kids open a bank account?

Age requirements vary between banks, and some may even have different account options for kids in certain age groups, all the way up to 18 years of age. Some banks in the UK allow you to open a bank account for kids as young as 6 years old, but banks like Barclays and HSBC require your child to be at least 11.

While most banks usually have minimum age requirements for kids bank accounts, there are some exceptions. For example, Santander's 1|2|3 Mini account is available for all children under 18. If you want to open a bank account for an infant and start setting money aside for their future, this is one option to look into.

What do I need to open a kids bank account?

Different banks may have different requirements, but you'll usually need:

your ID
a valid form of ID for your child, like their passport or birth certificate
proof of address for both you and your child, like a utility bill, bank statement, or official letter
a completed application form with your signature
contact details such as your phone number, address, and email

How to open a kids bank account

Opening a bank account for a child in the UK is generally quite simple. Specific requirements may vary, but here's a quick step-by-step guide to set you off in the right direction:

Choose the right account for your kid. Look into different banks and fintechs to find the best choice. Decide what's important to you and hone in on the options that'll meet those needs. Don't know where to start? Check out our guide to UK bank accounts for kids and compare some popular options.
Check eligibility requirements. Make sure your child is old enough for the account and that they meet any residency requirements the bank may have.
Gather all the necessary documents. These may vary depending on the bank, but you'll usually need ID for yourself and your child, as well as proof of address for you both.
Fill out the application form. Some banks allow you to submit your application online and upload the necessary documents, but others require you to visit a local branch. In either case, they'll generally ask you for your contact details and other basic information. As the parent or guardian, you'll need to sign the application.
Set up the account. This may involve downloading a mobile banking app or making an initial deposit. At this point, you may also be able to customise certain features or order a debit card for your child. A bank representative can guide you through this process.
All set! Once the account is activated, teach your child how to use it responsibly. Help them set savings goals, create a budget, and track their spending under your supervision.

What happens to my child's bank account after they turn 18?

Most banks will automatically convert your child's account to a standard account for adults on their 18th birthday. They'll usually notify you about the change before it happens. Review the new T&Cs carefully with your child, and contact your bank if you have any questions.

Once they turn 18, your child will have full control over their new account. They may also get access to additional features they didn't have before, like overdrafts or credit cards. By then, you'll have taught them well, and they'll be ready to manage their money independently.

What alternatives are there to kids bank accounts?

If you're looking for a straightforward kids bank account, a quick run to your local branch may do the trick — but maybe a current account isn't quite what you want for your child.

Maybe you want to grow their savings with interest, or you want them to have a debit card on hand in case of an emergency. Maybe you're interested in digital alternatives that give them access to more financial literacy tools.

Whatever the case, there's lots to explore. Check out the money management tools we offer for kids.

Revolut Kids & Teens, and the 16–17 account

If you're looking for a digital kids account with kid-friendly money management tools, check out Kids & Teens account. Unlike typical high-street banks, Revolut is entirely app-based. Revolut Kids & Teens gives children between 6–15 an app designed specially for them, so they can practise managing their own money under your supervision. If your child is 16 or 17, we offer a separate account to support their growing independence.

Revolut Kids & Teens

Revolut Kids & Teens is set up as a subaccount that's linked to your personal Revolut account. This makes it easy to send them their allowance in a tap or give them a regular payday with recurring top-ups. Your kid will get their own debit card to spend the money in their account, and they can even customise their card design for a small fee.

The app comes with intuitive analytics tools, so they'll be able to see where their money's going and where they can cut back. Once they turn 13, they'll be able to independently send money to friends and family who also have Revolut Kids & Teens accounts.

There are also fun features like Kids & Teens Challenges, which lets you set challenges in-app and determine how much money they'll make when they finish them. It's a fun way to get them to clean their room and empower them to see work as a rewarding opportunity.

To teach them that little savings make a big difference, we offer Pockets and spare change round-ups. Pockets is a feature that lets them customise their own savings compartments and track their progress towards specific goals. With spare change round-ups, your kid's card purchases are rounded up to the nearest whole number, and the difference is automatically saved in the Pocket they choose.

And of course, you're always in control. Right from your app, you can set spending limits, freeze their card, set up trusted contacts for transfers, and more. Their account is also protected by advanced security features designed for minors, with blocks on gambling, cigarettes, and alcohol. Once they turn 16, they can move on to the dedicated Revolut account for 16–17 year-olds. And when they turn 18, their account transitions to a full personal Revolut account.

There are no set-up or monthly subscription fees for one Kids & Teens account, so you can teach them to budget, on a budget. All you have to do is download the main Revolut app and sign up. Then go to Accounts ⇾ More ⇾ Add products & accounts ⇾ Kids & Teens account and follow the instructions. It'll only take a few minutes.

T&Cs apply

Revolut 16–17: more independence, more control

For older teens, we offer a dedicated account with significantly more financial autonomy. Unlike the Kids & Teens account, the 16–17 account gives access to the main Revolut app — with most of the features available to adult customers, including receiving salary payments, sending and receiving money to and from friends, budgeting with Pockets, and fee-free spending abroad.

A few things aren't available yet at this age — like investment features like stocks and crypto trading remain off-limits — but the account is built around the milestones that matter most at 16 and 17: a first part-time job, splitting costs with friends, and simply managing money on your own for the first time.

Whether your child is 6 or 17, there's a Revolut account built for exactly where they are right now.

T&Cs apply

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Kids savings accounts

If you're looking for flexibility, there are lots of instant access savings accounts for children. These allow you to withdraw money whenever you need to. They usually have low minimum balance requirements and little to no maintenance fees, which makes them easy to open.

If you want to help your child's money grow over time, a Revolut Kids & Teens Savings account is a great option. It earns interest which is paid daily, there's no minimum deposit, your child can save up to £3,500, and you can withdraw anytime through the app. You stay in charge throughout — set withdrawal permissions, track activity, or block access until they turn 18.

Kids & Teens Instant Access Savings T&Cs apply.

Prepaid debit cards for kids

Prepaid cards can come in handy if you feel your child is still too young to manage their own bank account, but you still want them to have a debit card on hand. These often give you a bit more control over your kid's spending, while still allowing them to practise their money management skills. They're a great first step towards financial literacy.

You decide how much money you want to load onto the card, and your child can then use it for purchases. There's no overdraft with these, so you can allow them to spend without the risk of debt. Some providers like GoHenry and Starling Kite offer kids apps, where your child can track their expenses and explore additional educational resources.

Revolut Kids and Teens is another option to check out. Our kids account comes with a debit card that's just as customisable as prepaid cards for kids, plus loads of additional features. You decide the amount that goes into their account, so they'll never overspend. You can also toggle off ATM withdrawals, set payment limits, freeze their card, and more.

Once they're old enough, you can give them more freedom by enabling Apple Pay or Google Pay, as well as payments to other kids and teens who have an account with us. Whereas some prepaid card providers appeal mostly to younger children, Revolut Kids and Teens is an account that'll 'grow up' along with your kid — and one they'll want to keep using well into their teen years.

Teach your kid to manage their money with a Revolut account

Want to give your child the financial education tools they need? Sign them up for Revolut Kids and Teens and empower them with just the right amount of financial freedom.

With everything from their own custom debit card to in-app analytics and savings tools, they can start taking ownership of their money management early on. You decide what they're ready for, with customisable parental controls and spending insights that keep you in the loop.

Join millions of families worldwide who trust Revolut, and teach your kids good financial habits through hands-on practice.

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Sources

The general trends described in this article are based on an analysis of the following children's accounts and money management tools:

For a more in-depth comparison, check out our guide to children's bank accounts.

Sources last checked 11 May 2026.

Information is provided by Revolut Group Holdings Ltd Registration No. 12743269 UK but is not liable for any of the claims, offerings, or services described herein, nor are the representations made or opinions expressed in this topic the views and opinions of Revolut Group Holdings Ltd or Revolut subsidiary companies registered and licenced to provide Revolut products in local countries. For more information about Revolut and current product offerings in your local country, please visit https://www.revolut.com/.

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