Lloyds child and teenager account review
Teach your kids how to manage their money or save for their future with Lloyds' bank accounts.

Lloyds is one of the biggest UK banks and its accounts for children and teenagers are suitable for a range of needs.
If you are considering Lloyds for your child’s bank account but are not sure whether it really is the best option, this page gives an overview of what accounts are available, what fees it charges and what perks it includes.
To make comparing even easier we came up with the Finder Score. Fees, features and popular opinion across the most popular banks are all weighted and scaled to produce a score out of 10. The higher the score the better the account – simple.
Read the full methodologyLloyds offers both current accounts and savings accounts that are specifically designed for children and teens. Just like adults, children need a current account if they want to manage daily expenses, and a savings account if they want to put money aside for a rainy day while earning interest.
Here’s what Lloyds offers:
Unfortunately, Lloyds does not have any current accounts for children younger than 11. While this type of product is not normally available from traditional banks, there are a few prepaid cards for kids with lower minimum age limits and you can compare them on this page.
The current account also offers some useful budgeting and savings tools. You can categorise your spending and create a monthly budget, as well as automatically round up your transactions and save the spare change by moving it to a savings account. The spare change feature becomes available once the child turns 16 and becomes eligible for Lloyds’ standard savings accounts.
If the child is at least 13, the application process for the current account can be started online, but you will need to visit a branch to have your documents checked. If the child is 11 or 12, the application will have to be done entirely in person.
Depending on the child’s age, the documents required are different:
You can apply for Smart Start online, while the savings account and the junior ISA can be opened both online and by popping into a branch.
All the accounts are free to open, with no monthly fees. For the current account, cash withdrawals and card payments are also fee-free, unless made abroad.
As Lloyds charges a foreign currency transaction fee, if your kid is going on a trip abroad or your family often goes on holiday outside the UK, be prepared to be charged for every card payment or cash withdrawals.
The limit on cash withdrawals from an ATM is £500 a day.
Lloyds is a fully licensed bank, regulated by the Financial Conduct Authority (FCA) and deposits are protected by the FSCS.
Overdrafts are not available on children’s accounts, so there’s no risk that a child might accidentally get into debt.
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If a child’s bank account does not sound like the right idea, then there are other options available.
With a good range of features, some interest paid on balances and very few fees, Lloyds’ current account is a good option to get your kids started with banking. Don’t forget about the foreign currency transaction fee if you travel abroad though, because it can get expensive pretty quickly.
While not the very best rates on the market, both the easy-access savings accounts and the junior ISA are quite competitive and make a good option to save for the long term. And if you’re looking to get your kids set up with both a current account and an instant access savings account, Smart Start could be a good choice.
Get started by visiting Lloyds Bank’s website and applying for an account. If you have read this review and decided that these accounts are not the right choice, you can also discover other bank accounts for children and the option of prepaid cards for kids.
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