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The Kids & Teens Instant Access Savings account is a financial product designed for minors, with a parent or guardian holding control. It's an interest-earning account that allows for the accumulation of savings over time.

The interest paid will depend on your plan. Money can be added by the child themselves, or the parent/guardian. If an Kids & Teens Instant Access Savings account is closed, the funds will be returned to your main account balance.

Only a parent or guardian can create an Kids & Teens Instant Access Savings for your child. You can do so from your personal mobile app. To do so:

• Go to 'Home' on the bottom menu
• Below your balance, tap 'Accounts'
• Choose 'Add new'
• Select 'Savings'
• Select 'Kids & Teens'
• Follow the prompts to set up your account

You and your child can both add and withdraw money to or from an Kids & Teens Instant Access Savings. Money will be deposited into the main account of the person who withdraws the funds from the savings account. To add or withdraw money as a parent or guardian in the personal mobile app:

• Go to 'Home' on the bottom menu
• Below your balance, tap 'Accounts'
• Select 'Kids & Teens Instant Access Savings' under your child's name
• Tap 'Add money' or 'Withdraw money'

To add or withdraw money as a child in the Kids & Teens mobile app, go to 'Save' on the bottom menu and tap 'Add money' or 'Withdraw money'.

The account can hold a maximum balance of £3,500 at any given time. If these limits are reached, we'll let you know, and you won't be able to add more money until the balance falls below the limit.

Eligible deposits are protected up to a total of £85,000 (including your personal and Kids & Teens Instant Access Savings) through the Financial Services Compensation Scheme (FSCS) via ClearBank Limited.

Eligibility criteria apply. Check the FSCS website for more info.