# Charity Bank creates children's savings account

- Link: https://fundraising.co.uk/2011/12/19/charity-bank-creates-children039s-savings-account/
- Published: 2011-12-19T12:47:08+00:00
- Author: Howard Lake

Not-for-profit savings bank Charity Bank has announced its first account for children.
Its Small Steps savers account has an interest rate of 2% p.a. and funds will be
invested in charities until the saver is ready to claim the money.

The Small Steps account can be opened by any adult on behalf of a young saver. The
child will be able to access the funds from the age of 16. Until then a nominated
adult will be responsible for operating the account.

Malcolm Hayday, Chief Executive of Charity Bank, said: “The Small Steps savings 
account gives people a great alternative to giving cash at Christmas. The money 
belongs to the child, but supports charities while it earns interest. It helps young
people appreciate the amazing work that charities do in so many walks of life and
is a fantastic way to support charity this Christmas, without any added cost to 
the depositor, or the saver.”

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