• You can open a Children's Regular Saver on behalf of a child in one of our local branches or agencies
• To open an account the child must be under 18 years of age
• The account must be opened at a local branch or agency office and can be opened in either the child's name (if they are between 7 and 18) or your name as trustee
• Either the child or the trustee must live within our postcode region to be eligible for the account. To be eligible for the account either you or the child must live within the following postcode areas: BA, BS, CF, DT, EX, GL, HR, NP, PL, SN, TA, TQ, TR, WR 
• You must save between £10 and £250 per month by standing order
• You can top up the account up to a maximum of £250 a month by paying in cash or cheques at your local branch or agency
• Interest is calculated on a daily basis and paid annually on 1 April each year
• You can make 3 penalty free withdrawals in a calendar year. Any subsequent withdrawals in that calendar year will be subject to a charge equivalent to 30 days' gross interest on the amount withdrawn 
• The interest rate on the account is guaranteed to be at least 1% gross above the moneybox account gross interest rate
• Once the child reaches 18 the account will revert to our Classic Gold account

Age restriction:

• The account must be opened at a local branch or agency and can be opened in either the child's name (if they are between 7 and 18) or your name as trustee

Restrictions on deposits:

• Coins totalling less than £25 will be accepted if sorted and bagged

• You can make 3 penalty free withdrawals in a calendar year. Any subsequent withdrawals in that calendar year will be subject to a charge equivalent to 30 days' gross interest on the amount withdrawn 
• Any cheques deposited must be cleared before a withdrawal can be made on them
• If the balance on the account falls below £10 then the Society reserves the right either to close the account and return the funds to you at your registered address by cheque or to pay an interest rate equivalent to the Moneybox account rate

Interest:

• Interest is calculated on a daily basis and paid annually on 1 April each year
• Interest is variable on this account

• Account holders can usually have interest paid without the deduction of tax
• To qualify, HM Revenue & Customs form R85 (available from any of our branches) should be completed by the young saver’s parent
• Please note that if an account is opened in a Child's name, special tax rules apply if savings are given by a parent to an unmarried child under the age of 18 that produce more than £100 gross income a year. Please refer to the HM Revenue & Customs booklet IR111 (Bank and Building Society Interest), which has a section dedicated to children's savings

• A Children's Regular Saver must be opened at a local branch or agency office