Future Saver for Children

This account helps you save for a child's future - and you can get started with just £1. Pay in a lump sum, or set up a standing order to save a set amount each month. It's an instant access account managed by you, so you can take money out whenever you need to.

Yes, we can change the interest rate on this account in line with the Personal Banking Terms and Conditions:

• If the change is beneficial to you (e.g. if we are increasing the rate of interest we pay you), or in some other situations where the change is being made for reasons outside our control (e.g. a change in a reference rate such as the Bank of England base rate), if we think it’s appropriate for us to make the change without prior notice we may make the change without telling you first, although we’ll notify you afterwards
• Otherwise, where possible, we’ll tell you at least 30 days before any change

For the purpose of this calculation, it is assumed:

• Inital deposit of £1,000
• No further deposits
• No withdrawals
• No change to the interest rate during the 12 months

Projection provided for illustrative purposes only and does not take into account individual circumstances.

Who can apply?

• You need to be 18 or over to open this account
• The child you are saving for must be under 18. You will need to provide ID for them in the form of a passport, full birth certificate or adoption certificate
• If you are not the parent/legal guardian (e.g. you're a grandparent), you will need address verification from the parent/guardian the child lives with

Minimum/Maximum Balance:

• No minimum deposit to open the account
• There is no maximum balance

How to manage the account

• The account belongs to the adult who opened the account, not the child
• You can manage the account online, in the app, over the phone or in branch. Future Saver will appear alongside the other accounts you hold with us in online and mobile banking

Yes, you have instant access to your account. You can make as many fee free withdrawals as you like.

• A 14 day cancellation period applies to this account
• We do not deduct tax from any interest paid to you

Definitions

• AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year
• Gross is the rate of interest if interest were paid and not compounded each year

Rates correct as at 26 September 2024

Visit one of our branches and we'll help you open your account in person. You’ll need to bring identification, proof of address and a recent bank statement.

If you're under 16, both you and your parent/legal guardian will need to be there to open the account. If you're over 16, you don't need an adult with you.

Or, call to book an appointment over the phone

03456 00 61 61

Our lines are now open 7am to 9pm every day.

Your eligible deposits with HSBC Bank plc are protected up to the limit of your local Compensation Scheme.