We are committed to promoting financial stability in our region and we have designed a young savers account for people up to the age of 16-years-old.* This is to help promote good money management and encourage saving among young people in our community.
*When young savers reach 16 years of age they automatically become full members.
Parents, grandparents and carers can open a young savers account on behalf of a young person. To open an account, you need three forms of identification:
- Something with the adult’s photograph on it– e.g. passport or driving licence (unless the adult is already an existing member)
- Something to prove the adult’s address – e.g. council tax or utility bill (unless the adult is already an existing member)
- The child’s birth certificate
Each child is issued with a passbook and they can make deposits as often as they want. The important thing is not the amount that is saved but the fact that they save a little regularly which in time will make a big difference. You can be sure that your money is in safe hands as we are covered by the Financial Services Compensation Scheme (FSCS).
Please contact us for further information on young savers accounts available with First for Money.