RBS child account review: Revolve and First Saver

Whether you’re looking for a bank account or a savings account for your child, RBS’s offerings could be a good first step.

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Royal Bank of Scotland

Opening a bank account or savings account for your child can be a great way to help them understand more about money and get them into the savings habit from a young age. Here, we take a look at what RBS has to offer youngsters and teens.

Children’s bank accounts from RBS

1 - 1 of 1
Name Product ratings Interest (AER) Minimum eligibility age Maximum eligibility age Incentive Representative example Link
Royal Bank of Scotland
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11 Years
17 Years
tag iconFree 24/7 Emergency Cash Service to withdraw up to £300 for online and telephone banking.
More Info
Name Product Interest rate Min. opening balance Min. age Max.age Incentive Link
Royal Bank of Scotland – First Saver
Royal Bank of Scotland – First Saver
2.7% AER variable
Free Pigbybank and access to the Pigby saving zone.

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What types of child accounts does RBS offer?

When looking at child account options, you’ll need to consider whether you want a bank account or prepaid card for day-to-day spending, or a savings account for putting money aside for a rainy day.

RBS doesn’t have a prepaid card, but it does offer 2 types of children’s accounts:

  • The first is a kids’ bank account called Revolve which is for those aged between 11 and 17 years old.
  • The second is a savings account called First Saver which is for those aged 0 to 16.

Revolve comes with a contactless Visa debit card, allowing users to make purchases in shops and online as well as withdraw cash, a mobile banking app to manage the account, and 24/7 banking. What’s more, the account pays interest of 2.27% AER on all balances.

First Saver is an instant access savings account, which means users can access their money whenever they need it. It also comes with a free Pigbybank and access to Pigby’s savings tips to encourage your child to save money.

The account can be opened from as little as £1 and the interest paid is 2.27% AER. The account can be managed online, by phone or via the RBS mobile app.

How to open a child account with RBS

The RBS Revolve account can be opened online by those aged 11 to 17. However, if your child is between the ages of 11 and 15, they will need a parent or guardian with them to open the account. The parent/guardian will also need to hold their own current account with RBS. Those aged 16 and over can open the account themselves.

The First Saver account can be opened online, by phone or via the app. If you want to open an account in branch, you’ll need to bring a mobile phone or tablet with you so that staff can show you how to open it online.

A parent or guardian will need to hold the First Saver account in trust for children up to the age of 7 (or up to the age of 16 if preferred). Children aged between 7 and 16 can open an account in their own name with the consent of a parent/guardian.

How much does opening a child account with RBS cost?

There are no fees to open either the RBS Revolve account or the RBS First Saver account.

However, if your child uses their Revolve debit card to spend or withdraw cash abroad, they will be charged a foreign transaction fee of 2.75%.

Is opening a child account with RBS safe?

Yes, RBS is a fully licensed bank which means it is regulated by the Financial Conduct Authority and deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS).

Pros and cons of using RBS for a child account


  • No monthly fees
  • Interest payable on both accounts
  • Accounts can be managed online, via the app or over the phone
  • Savings account can be opened for babies
  • FSCS protection


  • Interest rates are low
  • Accounts cannot be opened in branch directly (you’ll still need to go online)
  • Those aged 11-15 opening the Revolve account will need their parent/guardian to have a current account

Customer service information for RBS

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Our verdict

If you’re looking to encourage your child to get better at managing their own money, the RBS child accounts could be a good starting point. Both pay interest (albeit at low levels) and both charge no monthly fees. Just remember that if you want your child to open a Revolve account and they are aged between 11 and 15, you’ll need to have your own current account with the bank.

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