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Halifax Expresscash account review

Opening a current account for your child can be a great way of helping to teach them about money early on. Find out how the Halifax Expresscash account works.

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Account nameExpresscash
Account fee£0
ATM withdrawal limit£500
Debit networkVisa
Card typeCash / Debit
Minimum eligibility age11 Years
Mininum operating balance£0
Minimum opening balance£0
Direct debits
Current account switch guarantee
Cheque Book

There are many benefits to opening a bank account for your child, but perhaps one of the biggest is that it can encourage financial independence. If you’re considering opening an account for your child with Halifax, read our review of its Expresscash account first.

What is the Halifax Expresscash account?

The Halifax Expresscash account is designed for those aged between 11 and 17 years. There are no fees for maintaining the account and it comes with a contactless Visa debit card.

The account can be managed via online or telephone banking, the app and in branch.

How does it work?

The main features of the Halifax Expresscash account are outlined below:

  • No monthly fee. There is no monthly fee for maintaining the account.
  • Interest paid on balances. Earn interest of 0.50% AER (variable) on balances up to £999.99. No interest is paid on balances of £1,000 or more.
  • Pay a contact. Helping your child send or receive money with just a mobile number.
  • Tailored security and financial education. Available as part of the online banking experience.
  • Free mobile alerts service. Sending text alerts to keep track of your child’s finances.

Who is it for?

The Halifax Expresscash account is for UK residents aged 11 to 17 years old. It’s designed to help them learn how to manage their money and give them some independence.

What are the benefits?

Some of the main benefits of this account include that there is no monthly maintenance fee and interest is paid on balances up to £999.99. The account can also be managed in multiple ways.

How to apply

The way your child needs to apply for their account will depend on their age:

11- to 12-year-olds

If your child is aged 11 to 12, they will only be able to open the account in branch and must be accompanied by a parent or guardian. You’ll need to make an appointment at your nearest branch and your child must bring proof of ID such as a full UK birth certificate or passport. You, as their parent/guardian, will also need to bring proof of identity and proof of address.

13- to 15-year-olds

If your child is aged 13 to 15, the account can be opened online, but you will then need to go into a branch with your child to bring proof of ID for your child and proof of identity and address for yourself.

16- to 17-year-olds

If your child is aged 16 to 17, they can open the account online and then go into a branch to provide proof of ID, such as a passport or full UK birth certificate, and proof of address, such as a letter from their school. They do not need to be accompanied by a parent or guardian.

Is it safe?

Yes, Halifax is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. As a result, eligible deposits will be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person.

Overdrafts are not available for under 18s, so you don’t need to worry about debt.

Pros and cons of the Halifax Expresscash account


  • No monthly fee
  • Interest paid on balances
  • Mobile alerts service
  • FSCS protection
  • Multiple ways to bank


  • Interest paid is minimal
  • 11- and 12-year-olds cannot open account online
  • Must be at least 11 to apply

Our verdict: Is the Expresscash account from Halifax worth it?

The Halifax Expresscash account is a pretty decent child’s account, as long as your child is aged 11 to 17. It pays a small amount of interest on balances and can be managed online, via the app, over the phone or in branch.

However, as always, make sure you compare what else is on offer first before making a decision.

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