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March 2, 2026   |   Best BuyDeals

The best bank switching offers (March 2026)

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The best cash incentives available when you switch banks right now

We’ll update this page as new offers appear, though you should check the terms and conditions at each bank before you begin to ensure they haven’t changed.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Bank Switches
Our top pick

Lloyds Bank up to £500 switch offer

Customer rating 3.8/5
  • Club Lloyds switch offer
    £200
  • Offer ends
    30 April 2026
  • Extra perk
    Free Disney+ or cinema tickets
  • Lloyds Premier switch offer
    £500
  • FSCS Protected? Yes
  • Bonus requirements Switch using the Current Account Switch Service and close your old account. The old account must be from a different bank
  • Direct debits transferred over Switch three active direct debits from the old account
  • Restrictions Offer is limited to once per person and you can't have received a switching bonus from Lloyds, Halifax or Bank of Scotland since 1 January 2023.
  • Eligible accounts Switch into a new Club Lloyds, Club Lloyds Silver, Club Lloyds Platinum (for £200) or Lloyds Premier account (for £500)
  • Existing customers? Yes
  • Bonus paid Within 45 days of completing the switch
  • Debit card use For the Club Lloyds switch, you need to spend £100 with your Lloyds debit card within 35 days of opening your account. For the Premier switch, you need to spend £200 in the first 35 days.
  • Income requirements For the Premier account, you need to pay in £5,000 in the first full calendar month or have £100,000 of qualifying savings or investments with Lloyds throughout the first full calendar month
Our top pick

Barclays £400 switch offer

Customer rating 4.3/5
Editor's comment
“
This switch offer is for those eligible for the Premier Account, which requires a £75,000 salary or £100,000 in Barclays savings or investments
  • Switch bonus
    £400
  • Offer ends
    Unknown
  • Extra perk
    Plus free Apple TV+
  • FSCS Protected? Yes
  • Bonus paid Within 28 working days of completing the switch
  • Eligibility Need to have a £75,000 annual salary or £100,000 in Barclays savings or investments
  • Eligible accounts Premier Current account
  • Bonus requirements Switch using the Current Account Switch Service and close your old account
  • Direct Debits Switch over two active direct debits
  • Deposit requirements Pay in £4,000 within 30 days
  • Restrictions Offer limited to once per person, can't have opened a Barclays account before or on 17 February 2026 or previously received a switching bonus from Barclays
  • Existing customers? Not open to existing customers
Our top pick

Santander £200 switch offer

Customer rating 3.8/5
  • Switch bonus
    £200
  • Offer ends
    Unknown
  • FSCS Protected? Yes
  • Bonus requirements Switch using the Current Account Switch Service and close your old account within 60 days of starting the switch
  • Deposit requirements Deposit £1,500 in the first 60 days from opening the account
  • Direct debits transferred over Set up two Direct Debits before or after the switch from a selected list of household bills
  • Existing customers? Can't have held any Santander current account on 1 January 2025
  • Restrictions Can't have received a switching bonus from Santander already, offer limited to once per person
  • Eligible accounts Open a new or hold an existing Everyday, Edge, Edge Up or Edge Explorer current account
View Deal
Our top pick

Nationwide £175 switch offer

Customer rating 4.3/5
  • Switch bonus
    £175
  • Offer ends
    Unknown
  • FSCS Protected? Yes
  • Bonus requirements Switch using the Current Account Switch Service and close your old account within 28 days of starting the switch and make one debit card transaction within 31 days. The old account must be from a different bank.
  • Deposit requirements Deposit £1,000 within 31 days
  • Direct debits transferred over Transfer two direct debits
  • Existing customers? Yes
  • Restrictions You can't have received a bonus from a switching offer since 18 August 2021. Offer limited to once per person per account type, but you can get it on both personal and joint.
  • Eligible accounts FlexPlus, FlexDirect or FlexAccount
  • Bonus paid Within 10 days of the switch completing
Our top pick

first direct £175 switch offer

Customer rating 4.7/5
  • Switch bonus
    £175
  • Offer ends
    Unknown
  • FSCS Protected? Yes
  • Bonus requirements Switch using the Current Account Switch Service, close the old account and use your debit card five times and log into online banking in the first 45 days
  • Deposit requirements Pay in £1,000 within 30 days of opening the account (and leave it there for 24 hours)
  • Direct debits transferred over Move two direct debits or standing orders from your old bank
  • Existing customers? No
  • Restrictions You can't have or have ever had a First Direct account or have opened an HSBC account since 1 January 2018. Offer limited to once per person
  • Cashback requirements Extra £35 if you apply via cashback site Quidco or TopCashback (rates vary)
Our top pick

The Co-operative Bank up to £175 switch offer

Customer rating 3.4/5
  • Switch bonus
    £100
  • Offer ends
    Unknown
  • Additional bonus
    £75
  • FSCS Protected? Yes
  • Bonus requirements Switch using the Current Account Switch Service and close old account within 8 weeks of requesting. Plus, make at least 10 debit card payments and register for online banking or mobile banking within 30 days of the switch.
  • Deposit requirements Deposit £1,000 in the first 30 days of completing the switch
  • Direct debits transferred over Have two active direct debits within 30 days of completing the switch
  • Restrictions Can't have already have a bonus from Co-operative Bank since 1 November 2022. Offer limited to one welcome offer per person and account
  • Eligible accounts New or existing Standard or Everyday Extra current account
  • Extra bonus £75
  • Extra bonus requirements Make 10 debit card transactions a month for three months. Payout 2 direct debits every month for three months. Deposit £1,000 every month for three months. Extra bonus paid within 7 days of each "month" ending.
  • Bonus paid Within 7 days of meeting the criteria

NatWest £150 switch offer

Customer rating 4.9/5
  • Switch bonus
    £150
  • Extra perks
    Up to £36 rewards a year
  • FSCS Protected? Yes
  • Bonus requirements Switch using the Current Account Switch Service, close your old account and log on to online or app banking within 60 days of switching
  • Deposit requirements Pay in £1,250 within 60 days of switching
  • Bonus paid Within 30 days of meeting criteria
  • Existing customers? No
  • Restrictions Offer is limited to once per person, cannot have ever received a switching bonus from RBS, Ulster or Natwest and cannot have had a current account on 17 February 2026
  • Eligible accounts Reward, Select or Premier Reward, Premier Select

Other new customer offers

iFAST Global Bank £100 for switching your salary to iFast

Customer rating 4.9/5
  • Bonus
    £100
  • Offer ends
    30 June 2026
  • Interest
    2.65% AER (variable) on GBP
  • FSCS Protected? Yes
  • Bonus requirements This isn't a switch offer — to get the £100, you need to switch your salary to be paid into iFast via BACS. Your salary needs to reach the account for three more months, and you'll get £100 paid into your account.
  • Deposit requirements Your first salary needs to be paid in by 30 April 2026. Then, you must have your salary paid in each of any three different months between February and June 2026 (inclusive).
  • Extra bonus You can get an additional £100 for referring three friends to the account.
  • Extra bonus requirements Each of your referrals must also move their salary to be paid into the account via BACS.
View Deal

Chase Bank Current Account with Linked Boosted Saver

Customer rating 4.9/5
  • Savings rate
    4.5% AER variable for 12 months
  • Offer ends
    Unknown
  • Cashback
    1% cashback on select debit card spend
  • FSCS Protected? Yes
  • Important details Chase current account: 18+, UK residents. Eligibility applies. 1% cashback on debit card spending on groceries, everyday transport & fuel for your first year. Max £15 per month. Exceptions apply. May be changed or withdrawn.
  • Boosted saver Linked savings account for new Chase current account customers, available for your first 31 days. 4.5% AER (4.41% gross) variable for 12 months, including 2.25% AER 12-month bonus on top of the standard saver rate. Available to new current account customers for your first 31 days. May be withdrawn. Interest paid monthly. T&Cs: chase.co.uk
  • Fees Fee-free current account. Zero fees from Chase when spending at home or abroad
  • Account features Essential money management features
  • Customer service Provides 24/7 customer support
View Deal

More on bank switch offers

Latest bank switch offers (A-Z)

As of 27/02/2026

Click links for further details and analysis

About bank switching

Bank switching doesn’t need to be scary, and once you get the hang of it you can make some decent cash! Here’s everything you need to know to get started.

How to switch bank

You can switch bank for a number of reasons, but the main benefit is an effective cash bribe that banks offer to get you to choose them.

Here are the basics to get you started.

Bank switching explained

Switch bank like a pro

Once you’ve switched for free cash, you can keep going!

We’ve shared the things you need to know first, and what you can do to make it even easier.

Repeat switching tips

The best extra ‘dummy’ accounts

You don’t actually need to switch your main current account.

Instead you can set up a new one just for switching! Here’s how

What is a dummy account?

Cheap extra direct debits

Some switch offers require you to have a handful of active direct debits to transfer over.

If you don’t have enough, then we’ve some hacks to help you set up new ones quickly that won’t require you to pay for anything.

Find quick direct debits

Featured switching deal
Our top pick

Santander £200 switch offer

Customer rating 3.8/5
  • Switch bonus
    £200
  • Offer ends
    Unknown
  • FSCS Protected? Yes
  • Bonus requirements Switch using the Current Account Switch Service and close your old account within 60 days of starting the switch
  • Deposit requirements Deposit £1,500 in the first 60 days from opening the account
  • Direct debits transferred over Set up two Direct Debits before or after the switch from a selected list of household bills
  • Existing customers? Can't have held any Santander current account on 1 January 2025
  • Restrictions Can't have received a switching bonus from Santander already, offer limited to once per person
  • Eligible accounts Open a new or hold an existing Everyday, Edge, Edge Up or Edge Explorer current account
View Deal

Does bank switching affect your credit score?

We love bank switching, but there are some situations when switching could hurt your credit report.

Here’s what you need to consider before switching if you’re worried about your score.

Switching and scores explained

Debit card ‘spend’ hack

You might find a switching deal or current account reward requires you to spend regularly with your new debit card.

That’s not hard – but we’ve a way you can do this and still earn cashback on your spending from a different card.

Hack to meet spending requirements

The best rated current accounts

Thousands of customers have left current account reviews over on our sister site Smart Money People.

Find out which current accounts they rate – and the ones they don’t.

Current account customer reviews

Read next

Switch bank like a pro (again and again and again)

Find out where to get extra Direct Debits and other tricks to max switching offers

switch bank again
March 2, 2026   |   Deals

NOW TV free trial, offers & deals (March 2026)

Written by

Get Sky Atlantic, Sky Cinema and Sky Sports without getting Sky – and pay less with these great NOW TV offers.

Sky’s NOW TV – or NOW as it’s been rebranded – can save you a lot of money compared to paying for TV via your broadband provider, whether that’s Sky, Virgin, BT or TalkTalk.

Despite recent price increases and fewer offers it’s still the cheapest way to get big channels such as Sky Atlantic, Sky One and more. You’ll also get HBO Max included from March 2026.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

What is NOW TV?

NOW TV is essentially an on-demand video streaming service, just like Netflix and iPlayer. The big difference is it lets you watch Sky channels. Why bother when you can do this direct? Well NOW TV is so much cheaper. And you’ll see below there are always deals to bring the price down further.

Another great thing is that you can subscribe month by month, or even by the day for sports channels, rather than tie yourself into a year-long contract as you would if you had satellite or cable TV. Here’s Andy’s take on whether it’s worth the money.

It works best if you don’t watch ALL the different channels. That’s because films, TV and sport are all on different packages. Very cheap if you get one or two, but it can be pricey if you get more. And of course you need to consider if you’d be better off picking Netflix or Amazon Prime instead – there’s not enough time to watch all three!

How much is NOW TV?

Here are the full price costs for all the different NOW TV passes – but of course you don’t need to pay this. Check out all the deals on this page for ways to save.

  • Entertainment Pass costs £9.99 a month
  • Cinema Pass costs £9.99 a month
  • The Hayu pass costs £5.99 a month
  • There are two Sky Sports NOW TV passes
    • A Day Pass costs £14.99 for 24 hours
    • A Month Pass is £31.99 a month
  • NOW TV Boost cost £6 a month or £9 a month

New NOW TV customer offers and deals

The best offers are pretty much always for new customers. If you’ve never used NOW TV before, always start with one of these. If there’s a free or very cheap pass featured further down you can always add that at a later date. We’ve ranked them in the order of how good we think they are.

These offers are only for new NOW TV subscribers. Make sure you cancel before the prepaid package is up or you’ll pay full price for the following months.

At the moment it seems most of these introductory offers are for a minimum of six months, so you might need to weigh up whether you’d be better off paying full price for a single month and using the cancellation trick (more on this further down the page) to hopefully bring prices down without being locked in.

NOW TV Entertainment: 50% off 12 months

This new user offer requires you to lock in for 12 months, after which you’ll pay full price but can cancel at any time.

You’ll get:

  • Entertainment for £4.99 a month (save £5)

This offer also comes with a 30 day trial of Boost.

Sign up for NOW TV

Reduced passes with NOW Broadband

If you change your internet to NOW Broadband, you’ll be able to get discounted NOW passes. The cost varies depending on when you sign up; we’ve seen it as little as £4 a month.

However, you are tied into the broadband and the NOW membership for 12 months. And it’ll go up to full price once the year ends.

Get a discounted NOW passes and broadband at NOW

NOW TV free trials (ended)

Sadly there are no longer any free trials for the main passes, though they could return. Usually you can trial “Boost” for 7 days though that’s not currently showing.

If you do get a trial and don’t want to keep paying then remember to cancel before the seven days finish to avoid getting charged full price.

Choose a 7-day NOW free trial

Back to top

Existing NOW TV customer offers and deals

Most of the special offers are only for new customers, but there are lots of ways existing customers can save each month. Usually this involved either buying a gift card pass, or buying a multi-month pass with a NOW TV box or stick when these are on offer (which happens quite a bit).

With the passes you will get a code which you can enter into your account. Go to the view passes page and you’ll see where to add the code. If you are buying the passes with a NOW TV stick or box then the newer ones have the passes preloaded and are added to your account when you activate the device and log in.

Here are the best deals:

NOW TV cancellation trick

If you go to cancel your NOW TV pass, you’ll be asked the reason you are cancelling. Select the option saying it’s too expensive for you and you might be offered a discount to stay.

If that’s as good or better than the existing customer deals we’ve listed above, then you can accept it and pay less. This will be for a limited time, often three or four months, so don’t forget to repeat this process.

Do keep an eye on your emails too. It’s not unheard of for NOW TV to offer a discounted price after you’ve cancelled. Here’s more on how this trick works and how to cancel.

NOW email offers

It’s also worth having your email preferences set to allow promotional emails from NOW. They will regularly send promotions with discounts – most recently Andy signed up to four months of Entertainment for £1 a month.

This will only be sent if you don’t have an active subscription, another reason to hit cancel at the start of each month.

Netflix, NOW TV and Freeview box for £5/mth for six months (expired)

If you have BT or EE broadband (or sign up for it), you can add on a EE TV package that includes Netflix and NOW at a reduced price. At the moment, you can get it for £5 a month for the first six months. You’ll need to commit to 24 months, and the price will go up after the six month period and every year. However, it includes:

  • Netflix Standard with adverts (rrp £5.99 a month)
  • NOW Entertainment (rrp £9.99 a month)
  • Discovery+ basic (rrp £3.99 a month)

With this deal, you’re locked in for at least 24 months. For the first six months you’ll pay £5 and this goes up to £20 a month from month seven. It then costs £22 a month from 31 March 2026 and £24 a month from 31 March 2027.

You’ll need to factor in if you can get broadband for less elsewhere, and that you’ll be tied in for two years.

If you want HD Netflix you’ll have to pay extra – and it’s not clear how much more this is.

Similarly if you want HD and no adverts on your NOW pass that’s another £6 a month. And it’s often possible to get cheaper NOW packages direct with NOW – that might not be the case if you pay via your BT bill.

A similar model box will likely cost you £250, so if you’re looking at ditching pay TV elsewhere, this would be a cheaper way to get hold of it, with the streaming services thrown in (though you won’t keep it if you leave BT in two years time).

Get Netflix via EE TV

Back to top

Latest Sky Sports NOW TV deals

You need a separate pass for Sky Sports via NOW and there are often deals to bring the price down. We’ve listed them on our bespoke deals page for Sky Sports.

Save on Sky Sports at NOW

Here are my top deals for Sky Sports day and month passes on NOW.

Back to top

Read next

March 2, 2026   |   Deals

Cheapest ways to watch Sky Sports without a subscription (March 2026)

Written by

You don’t need a Sky subscription to watch Sky Sports! Here are the latest deals for pay-as-you-go passes on NOW TV.

We’re big fans of NOW (or NOW TV as it was called). It’s a cheap way to watch Sky channels, doesn’t tie you in to long contracts, and if you’re a fan of the Premier League, golf, cricket, Formula 1 or dozens of other sports but can’t afford Sky, it can be a real money saver.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Sky Sports on NOW TV

If you get your TV via Sky, or even Virgin or BT, then you’ll likely have to commit to a long contract with your TV provider, probably 18 months. And it can be really expensive.

In terms of TV programmes and film channels, it’s almost always going to be cheaper to get those exact same channels via NOW instead.

It’s slightly more complicated for Sky Sports channels. The day passes are perfect for occasional users at under £15 a go (or less if you use a deal). Sadly, it looks like the week pass is no longer offered.

The monthly passes, however, can be expensive. At £31.99 a month, you’ll probably pay more via NOW TV for this channel than with Sky if you have it every single month of the year.

But there are regular deals which bring the price down, currently to £28 a month and sometimes as low as £18. This makes the price much more comparable, and you have the added advantage that you aren’t committed to a contract. You can stop it or pause it month by month.

What is NOW TV?

Think of NOW (or NOW TV as it was called until spring 2021) as a pay-per-view iPlayer for the Sky TV channels. The sports passes give you access to all 12 Sky Sports channels without a contract, so you can watch per day or per month.

NOW TV can be streamed on your computer, tablet, some smart TVs, games consoles and devices such as the Chromecast, Roku and Amazon Fire Sticks.

The passes don’t include TV or movie channels, which you need to buy separate passes for – though there are plenty of discounts to be found and we’ve summarised the best on our  NOW TV deals page.

NOW TV Sky Sports free trials

Unlike the other NOW membership passes, there’s no free trial for any of the Sports options.

NOW TV Sky Sports day pass offers

Far better than a Sky contract is a £14.99 Day Pass. Despite recent price increases, we think this pass represents decent value for money for occasional viewing.

There used to be frequent discounts to be had, such as 20% off or bundles passes with a NOW TV smart stick. We’ll share any we find on this page but they aren’t as common now.

Buy a Sky Sports day membership from NOW

Month-long Sky Sports pass on NOW TV

If you’re going to watch a lot of the action on Sky Sports it’s probably cheaper to get a subscription via Sky, Virgin or BT. But if you want to dip in and out month by month you can buy a fully flexible monthly pass for £31.99.

There are often discounts on the first month or two, sometimes as long as nine or 12 months, which we’ll include when we see them.

These offers are also sometimes emailed with unique codes to previous customers so it’s worth turning on the option for emails.

Don’t forget to cancel the month sports pass (which you can do any time) if you don’t want it to renew at full price.

Month passes also start from the moment you pay, unlike week and day passes which you activate when you want them to start.

Buy a Sky Sports Month membership from NOW

Personalised discounts

From time to time, you might see a better offer in your account or via email.

To receive emails you’ll need to have turned on the marketing preferences to allow this.

For in account offers you can see if you’re eligible if you head to the personalised My Offers section of your account. You’ll need to be signed in.

Check your account for offers

Sky Sports at £19.99 a month – for some

This offer or similar is regularly offered via emails sent to previous customers, giving 6 to 12 months at £19.99 a month.

It’s either a rolling contract for Sky Sports via NOW TV, or it’ll lock you in for a set period. You’ll save over 35% on the standard monthly price. Importantly, you aren’t tied into the full 12 months. You can cancel at any point. But you’ll pay full price if you restart at a later date.

It’s open to new NOW TV customers and existing customers who either don’t have a pass or are in the last 30 days of a previous offer – as long as you received the email.

Get a discounted month pass at NOW

6 months at £28 a month – for all (ended)

Get an Unlimited Sky Sports membership for £28 per month (normally £31.99) for 12 months with NOW TV. The offer is open to new and existing NOW TV customers (for the latter, it’s as long as you’re in the last month of an existing offer).

However, you’ll be locked into the full 12 months – so you can’t ditch it earlier if you want. It’ll also renew at full price if you don’t cancel in the last month.

Get Sky Sports for £28

NOW TV Sky Sports Week pass offers

NOW TV no longer offers the week pass. Whether this is permanent or temporary remains to be seen. Occasionally you can still get the offers which we’ll share below, but chances are slim.

Sky Sports on Virgin Media

You can get Sky Sports via the standard Virgin Media TV box, or via the Virgin Media Stream box. The latter only allows streaming, not recording.

You can add Sky Sports channels in HD for £34.99 a month without a contract commitment to Virgin Media Stream, but you’ll need to pay the set up fee first.

Sky Sports on Sky

If you don’t want to ditch Sky for NOW, then you can still get Sky Sports channels direct. However, the best prices for the full package will usually require a new 24-month contract, which obviously ties you in, and will be more costly than the options above.

Sky Sports is currently £22 a month for 24-months.

Other sports broadcasters

Amazon Prime Video

You can also watch sport on Amazon.

Prime costs £95 a year, or £8.99 a month and includes other Amazon features. However, if you just want the video channel for streaming sport, film and TV shows you can get this for £5.99 a month – which means you can pay just under £6 if you only want to watch the games. There’s also a free 30-day trial – just remember to cancel it if you don’t want to keep paying.

Save money on Amazon Prime Video

All the latest Amazon Prime Video deals

TNT Sport

You can now buy month passes for TNT Sport. More details on this and other deals here.

Watch TNT Sports without a subscription

All the latest TNT Sports deals

Read next

March 2, 2026   |   Best Buy

The best children’s savings accounts

Written by

The highest paying easy-access and regular children’s savings accounts and Junior ISAs

Here’s our guide to the best children’s savings accounts. Check the date to see when this was last updated.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Easy access accounts

These can be current accounts for kids or specific children’s savings accounts and are open to anyone under the age of 18. Rates are usually variable, which means they can change, and are often only on a limited amount of money.

With these accounts, your children will be able to manage the money themselves once they reach a certain age.

  • Nationwide FlexOne Saver (5% AER variable on up to £5,000 saved)
    • For 11-17-year-olds
    • Requires a FlexOne current account
    • Can get a Visa debit or a cash card
  • Kent Reliance Demelza children’s savings account (4.18% AER variable)
    • Min £10 / max £25,000
    • Under 18 years old only
    • No debit card
    • 0.25% of the average balance of all Demelza accounts given to Demelza Children’s Hospice each year
    • Open it in branch or via post
  • HSBC MySavings (4% AER variable on up to £3,000 saved / 1.2% above this)
    • Min £10
    • Ages 7 to 17
    • Debit card from 11
    • Can be opened online if parent/guardian has HSBC account, otherwise in branch only

Regular Savers

These children’s savings accounts pay higher rates but you’re limited on how much you can save each month. Usually, it’s a fixed rate for a year. When the time is up, the account will close and the money will be transferred to a linked savings account.

Junior ISAs

You or your child can save £9,000 a year in a Junior ISA. These can be cash ones earning interest or stocks and shares ISAs which are invested (meaning the value can go up and down).

Though interest or gains earned in an ISA are tax-free, it’s unlikely it makes much difference as there are other allowances that will be more than enough for most kids.

Money in Junior ISAs is also locked away until the child turns 18. Then it’s their money to use as they want.

Parents or guardians have to open the account but anyone can add money – handy for grandparents and other family members who want to put money aside.

Best Cash Junior ISAs

Family Building Society Junior ISA

Customer rating 4.7/5
  • AER (variable)
    3.85%
  • Minimum
    £1
  • Account opening
    Branch or via post
  • FSCS Protected? Yes
  • Allow transfers in Yes

Leek Building Society Junior ISA

Customer rating 4.9/5
  • AER (variable)
    3.85%
  • Minimum
    £1
  • Account opening
    Branch or via post
  • FSCS Protected? Yes
  • Allows transfers in? Yes

Coventry Building Society Junior ISA

Customer rating 4.1/5
  • AER (variable)
    3.75%
  • Minimum
    £1
  • Account opening
    Branch or via post
  • FSCS Protected? Yes
  • Allows transfers in? Yes

Loughborough Building Society Junior ISA

Customer rating 4.9/5
  • AER (variable)
    3.75%
  • Minimum
    £1
  • Account opening
    Branch or via post
  • FSCS Protected? Yes
  • Allows transfers in? Yes

Danske Bank UK Junior ISA

Customer rating 4.1/5
  • AER (variable)
    3.75%
  • Minimum
    £25
  • Account opening
    Branch or via phone
  • FSCS Protected? Yes
  • Allows transfers in? Yes

NS&I Junior ISA

Customer rating 2.9/5
  • AER (variable)
    3.55%
  • Minimum
    £1
  • Account opening
    Online
  • FSCS Protected? Yes
  • Allows transfers in? Yes

Tax and children’s savings

Our analysis

When choosing a children’s savings account, you probably won’t need to worry about tax on interest.

Children can earn a total of £18,500 from savings and other income each financial year. That’s the £12,500 personal tax allowance, the £5,000 starting savings allowance and the £1,000 personal savings allowance.

However, if parents (and parents only) are adding money to any of the non-tax free accounts then there’s a £100 interest limit each year per parent.

So say the child has £2,000 saved earning 3.75%, they’d make £75 in interest. That’s fine. If they amassed £3,000 in contributions from the same parent the amount earned would be £112.50.

That’s still ok if the money comes from both parents, as the allowances would be combined and the total interest that can be earned would be £200.

But if it’s from one parent, then the entire £112.50 would need to come out of that parent’s Personal Savings Allowance. That might not be a problem – but if it exceeds this, then the whole amount will be subject to tax at the rate the parent pays, which could be 20% or 40%.

To avoid this you might want to save into a Junior ISA.

Other ways to save for kids

Premium Bonds

You can also buy Premium Bonds for children. These cost £1 each, but there’s a minimum purchase of £25. Grandparents are able to buy Premium Bonds, as well as parents and guardians.

The current prize fund is 3.6%, which isn’t the same as 3.6% interest. It’s very likely that with small amounts of cash in Premium Bonds you won’t win anything, but there’s the chance of getting up to £1 million every month.

Pensions

Yep, you can start putting money into a person pension for a child at any age. They won’t be able to access the cash until they reach 57 years old (though that will likely increase when they’re older). However, they can manage where the money is invested from the age of 18.

As with adults adding to pensions, they’ll get 20% tax relief from the government, meaning for every £80 that’s added, £100 will be invested.

There is an annual limit though of £2,880 where you’ll get this extra top-up.

Piggy banks

It can be good to get young kids familiar with coins and money by giving them a piggy bank to save with. Obviously they won’t earn any interest (unless you want to work that out yourself).

Once they get a little older to understand branch and online banking it might make sense to replace the piggy bank with the accounts above.

Apps

Starling offers a free app to help kids learn about money and spending while also giving the parents extra control over purchases called Starling Kite. You can also pay a monthly fee for apps like Go Henry and HyperJar. However, you’re unlikely to get any decent rate of interest from any of these.

The best savings accounts

Check out our list of the highest paying regular, easy-access, fixed and ethical savings accounts

Read next

March 1, 2026   |   Best Buy

Best free business bank accounts

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Find a free business bank account for your business type

A business bank account is a separate bank account from your personal one that you maintain just for your business. These accounts are more tailored to business banking, so you can integrate accounting tools, make invoices and categorise your expenses. Some accounts are limited to certain types of businesses, so you’ll need to check that your business is eligible to have an account with your chosen bank.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Best free business accounts

Business Bank Accounts
Sponsored

ANNA Pay As You Go

Customer rating 4.7/5
  • Monthly fee
    £0
  • Cash deposit fee
    0.95% fee on cash deposits
  • Fee for transfers in/out
    0.95% fee on money paid in (except from your own accounts)
  • Access Online or via app
  • FSCS Protected? No
  • Cash withdrawals Unlimited free withdrawals
  • Integration with accounting tools Share access with your accountant or sync with accounting software
  • Invoicing tools Yes
  • Eligible companies Registered limited companies, Limited Liability Partnerships or sole traders
View Deal

Monzo Lite

Customer rating 4.9/5
  • Monthly fee
    £0
  • Cash deposit fee
    £1 per deposit
  • Fee for transfers in/out
    £0
  • Access Online or via app
  • Cash deposits £1 per deposit at any UK PayPoint or Post Office
  • FSCS Protected? Yes
  • Cash withdrawals Withdraw up to £1,000 per day
  • Integration with accounting tools Not available - Integration only available with Monzo Pro and above
  • Invoicing tools No
  • Eligible companies Sole traders and registered limited companies
View Deal

Tide Free Business Account

Customer rating 4.7/5
  • Monthly fee
    £0
  • Cash deposit fee
    0.5% (min £2.50) at Post Office, 3% at PayPoint
  • Fee for transfers in/out
    Free transfers in/out for 12 months
£100 welcome bonus
  • Access Online or via app
  • FSCS Protected? Yes
  • Cash withdrawals £1 per withdrawal
  • Transfers Transfers cost 20p per transfer after a 12 month promotional period
  • Integration with accounting tools Connect your own accounting software or export transactions to share with your accountant for free
  • Invoicing tools Yes - send 3 per month free
  • Offer details Get £100 in cash when you open a Tide Business Account and spend £1,000 within 60 days of account opening. Use the code BCA100 when you sign up.
  • Eligible businesses Registered limited companies or sole traders
View Deal

Starling Bank Business Account

Customer rating 4.9/5
  • Monthly fee
    £0
  • Cash deposit fee
    0.7% (min £3)
  • Fee for transfers in/out
    £0
  • Access Online or via app
  • FSCS Protected? Yes
  • Cash withdrawals 6 free withdrawals per day up to a maximum of £300
  • Integration with accounting tools Can be connected to accounting software
  • Invoicing tools Yes
  • Eligible companies Limited companies, Limited Liability Partnerships or sole traders
View Deal

Mettle Business Bank Account

Customer rating 4.9/5
  • Monthly fee
    £0
  • Cash deposit fee
    £0
  • Fee for transfers in/out
    £0
  • Access Online or via app
  • FSCS Protected? Yes
  • Cash withdrawals Free
  • Integration with accounting tools Access to FreeAgent and connect to other accounting software
  • Invoicing tools Yes
  • Eligible businesses Sole traders and limited companies with no more than two owners

Zempler Bank (formerly Cashplus) Business Go

Customer rating 4.9/5
  • Monthly fee
    £0
  • Cash deposit fee
    0.55% (min £4)
  • Fee for transfers in/out
    Free to receive, send for free three times each month, 35p afterwards
  • Access Online or via app
  • FSCS Protected? Yes
  • Cash withdrawals £2 per withdrawal
  • Card issuing fee £9.95 one-off fee
  • Integration with accounting tools Connect your chosen accounting software
  • Invoicing tools Yes
  • Eligible businesses Sole traders and limited companies
View Deal

Virgin Money M Account for Business

Customer rating 3.6/5
  • Monthly fee
    £0
  • Cash deposit fee
    £0.90 fee per £100
  • Fee for transfers in/out
    £0
  • Access Online or via app
  • FSCS Protected? Yes
  • Cash withdrawals £0.90 fee per £100 withdrawn. Withdraw up to £700 per day.
  • Integration with accounting tools Can be connected to accounting software
  • Invoicing tools No
  • Cashback 0.25% cashback on debit card purchases
  • Offer details You can get 3 months of Xero or Quickbooks for free with a Virgin Money business account.
  • Eligible companies For businesses with an annual turnover of less than £1m

SumUp Business Account

Customer rating 3.9/5
  • Monthly fee
    £0
  • Cash deposit fee
    Not available
  • Fee for transfers in/out
    £0
  • Access Online or via app
  • FSCS Protected? Yes
  • Cash withdrawals 3 free per month, 2% thereafter
  • Integration with accounting tools Can be connected to accounting sotware
  • Invoicing tools Yes
  • Eligible companies Sole traders or limited companies

Countingup Business Bank Account

Customer rating 4.9/5
  • Monthly fee
    £3-£18 per month
  • Cash deposit fee
    Post Office: 0.5% (£2 min) / PayPoint: 3%
  • Fee for transfers in/out
    30p
3 months free & free accounting tools
  • Access Via app
  • FSCS Protected? No
  • Cash withdrawals £1 per withdrawal
  • Integration with accounting tools Fully integrated accounting tools
  • Invoicing tools Yes
  • Eligible businesses Sole traders or registered limited companies
  • Fee details After the 3 month free trial, you'll pay a monthly fee depending on how much you deposit each month. Deposits up to £750: £3 per month; Deposits up to £7,500: £9 per month; Deposits over £7,500: £18 per month

Amaiz Business Bank Account

Customer rating 4.6/5
  • Monthly fee
    £0
  • Cash deposit fee
    Not available
  • Fee for transfers in/out
    Free (FPS transactions)
  • Access Online or via app
  • FSCS Protected? No
  • Cash withdrawals Unlimited free withdrawals
  • Integration with accounting tools No
  • Invoicing tools Yes
  • Eligible businesses For companies of all sizes and risk categories

Do you need a business bank account?

If you’re a sole trader or just earning extra via a side hustle then you don’t need to have a specialist business bank account. You can make do with a standard (and free) personal account.

You don’t have to use the same one you bank with day-to-day. It’s generally best to separate your business money from your personal cash, so it’s best to open a new account — it’s up to you whether you stick with the same bank you use for your personal banking or try a different one. Keeping them separate will be useful when it comes to doing your tax return and working out which purchases were business-related.

But, if you are part of a Limited Company then you’ll have to have a specific business account.

What to look out for when searching for a business bank account

When choosing a business bank account there will be a few differences from regular bank accounts that you’ll want to consider.

Fees

You’ll be more likely to come across fees with these bank accounts. We’ve shown the free accounts above, although this refers to whether there’s a monthly fee. The other fees you might come across include:

  • Initial set-up fee
  • Cash deposit fees
  • Cash withdrawal fees
  • Transaction fees
  • Fees for payments in
  • Fees for transfers out

It’s important to consider what your business is likely going to need. For example, if you take a lot of cash payments, you might be more interested in getting free cash deposits, while a company that doesn’t handle cash much wouldn’t be bothered about cash deposits.

Eligibility

Some accounts aren’t available for all businesses. If you have a Limited Liability Partnership, for example, you’ll have fewer choices when it comes to business bank accounts. Check out “eligible companies” in further details above for an overview. You’ll also want to double-check with the bank directly. Generally speaking, sole traders and limited companies should be eligible for all of the accounts above, although there are often excluded business types.

Cash deposits

Many of the business bank accounts listed above are digital banks, which means there isn’t a high street branch for you to deposit cash into your account, however, most of them will let you deposit cash at the Post Office or using PayPoint. Some have associations with high-street banks — for example, Mettle is owned by NatWest so you can pay in cash at NatWest branches.

Integration

A lot of business bank accounts offer integration with accounting software like Xero or Quickbooks. Or, they’ll offer the option to export your transactions to give your accountant or upload them into your chosen software. If you don’t have accounting software, you probably wouldn’t need this, although it may be useful in the future.

Some business bank accounts come with a free trial of accounting software. While this is worthwhile if you think you’ll need accounting software, remember to cancel it if you don’t think it’s something you’ll need.

February 26, 2026   |   Articles

Cancel Sky and Virgin TV subscriptions and save hundreds

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If you’re still paying for premium pay-TV via satellite or cable you’re paying too much.

Switching away from Sky TV, Virgin Media or EE TV to streaming alternatives can save you £100s of pounds – and you can still keep the exact same channels.

You’ll also get the added flexibility of choosing what you want to pay for and when. And you can even keep recording most channels if you want.

In this article I’ve shared why you shouldn’t be worried about ditching Sky, and how to watch the alternatives (such as NOW TV) on your TV.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

How much Sky TV costs

Sky TV isn’t cheap. From 1 April 2026 Sky Ultimate package costs £24 a month for new customers and could go up to a massive £55 a month if you add in Sports and Cinema, coming in at £660 a year. This is on a 24-month contract, where prices will likely go up each April.

You might even be paying another £35 a month if you add on things like Kids channels, UHD viewing and multiroom. That’s potentially £90 a month and £1,080 a year.

But that’s for newbies… existing customers paying full price will see a huge increase. Ultimate, Cinema and Sports will add up to £87 a month (£1,044 a year), and with the extras like HD and skipping ads it’s £122 a month (£1,464 a year).

The Sky Essentials plan would save some money each month, though you’d only get Sky Atlantic, Netflix and Discovery+, losing all the other Sky-only channels.

I’ve also not included broadband costs here as you can easily shop around for deals elsewhere – there’s no need to get it direct from Sky or Virgin.

Initial price per monthFull price per month
Basic package
Sky Essential (inc Netflix w/ Ads)£15*£21
Sky Ultimate (inc Netflix w/ Ads, Disney+ w/ Ads, HBO Max w/ Ads & Hayu)£24*£37**
Add-ons
Sky Sports£20*£33
Sky Cinema (incl Paramount+ w/ Ads)£11*£17
Sky Kids£8£8
Sky UD Ultra£6£6
Sky Whole Home (1 device)£15£15
Skip ads£6£6
*initial 24 month contract price, otherwise 31 day rolling contract ** estimated price from 1 April

Sky Ultimate now comes with included streaming services

The big change from March 2026 is the addition of HBO Max and Disney+ to the Sky Ultimate package, with Hayu arriving in July.

Here’s what these extras would cost if you bought them separately (which of course you can do at any time). Like with the included Netflix, the HBO and Disney subscriptions are the basic ones which include adverts and other restrictions. You can pay the price difference to upgrade any or all of these if you wish.

SubscriptionIncluded tier valueStandard costPremium cost
HBO Max£4.99£9.99 (£5 to upgrade)£14.99 (£10 to upgrade)
Disney+£5.99£9.99 (so £4 to upgrade)£14.99 (£9 to upgrade)
Hayu£5.99N/AN/A
Netflix£5.99£12.99 (so £7 to upgrade)£18.99 (so £13 to upgrade)

The three new services add up to £16.97 of value, so with Netflix Basic the total streaming part of the package is £22.96 a month. That means you’re paying only £1.04 for all the Sky channels at the introduction price, though it jumps up to £14.04 for those out of contract.

Is Sky worth the cost?

To accommodate the new streaming passes, prices have gone up by only £2 so at first sight, Sky could actually be really good value for money. But is it?

If you’ve just let your bill roll over to full price, and add on some or all of the extras, then it’s a huge amount to pay each month. And as I’ve shared below, it’s possible to get the same or similar for less.

But hopefully you’re not paying full price. £24 for all those channels and subscriptions as a new customer isn’t bad at all. And since Sky and Virgin are notoriously easy to haggle with and freebies are often thrown in – especially if you bundle your TV packages with your broadband and even your mobile phone, you will hopefully be paying something similar.

But the big question is, do you actually want or need all the channels and those four streaming services? And if you do, would you actually want them for the minimum 24 month contract you’re entering into for the lower price?

And what about other streamers, such as Prime Video and Apple TV, or the upgrades to get rid of ads on the included ones? You’ll need to pay extra for these on top, pushing your bill up.

If the answer is you’re happy to have less to watch at any one time, rotating through the streamers as and when, then you absolutely can pay less over the year by ditching the long pay TV contracts. I think you could be saving between at least £200 and £430 a year, more if you’re paying Sky’s full price.

Cancelling Sky TV

Make sure you are out of contract. It could be that you have different dates for TV and other bundled packages such as broadband or phones. If so, make sure you know what the effect of cancelling your TV could have on the price of those services.

If you have any time left to run you’ll be charged an early exit fee, which will pretty much be all the money you owe until that contract is due to end. 

If you’re not out of contract for a while, make a note in your diary a month before it’s due to end to start the cancellation process in motion.

When you’re ready to cancel, you can phone Sky or use a live chat function. To leave Sky TV you need to give 31 days notice, so you’ll still pay for a month (and receive the channels) in that time.

When the service ends you’ll need to return your Sky Q or Sky Stream equipment – so you won’t be able to keep using them for other services.

How to watch free channels (including BBC, C4 & more)

The most watched TV channels are BBC, ITV and Channel 4. These are all available via Freeview. For free. And there are plenty more, including U&Dave, Dmax, Really, Food Network, HGTV, Quest and Yesterday.

Importantly you don’t need Sky to watch these. Most can get these by connecting their TV to an external aerial. If you don’t have one you can try indoor aerials which might work. Or, something called Freesat will connect to your satellite dish. You may need a separate box to connect.

And you can of course catch them live or on catch up via streaming apps on your TV such as BBC iPlayer, Channel4+, ITVx, Freeview Play and so on.

For a more traditional programme guide (EPG) experience when live viewing these channels, check out the live tab on devices like Amazon’s Fire TV (you’ll still actually watch in each broadcasters’ own app).

If you’re happy to focus mainly on these channels then you’re saving a grand a year, if not more.

How to record without Sky or Virgin

The downside with moving away from traditional Sky or Virgin is you lose your recording box.

If that’s essential to your viewing, you can buy a Freeview or Freesat box to record Freeview channels. This can cost between £165 (like the Manhattan T4-R) and £250. Sounds like a lot, but if that was to last you for four years (which it really should, if not longer), that £165 costs you £41 a year. Even when you factor that in, you’re still saving money versus Sky or Virgin.

Though I’d challenge you whether you actually need this feature. If you already watch most things on catch-up you can probably do without a box.

Even if you really hate adverts on the likes of Channel 4 or ITV, you can pay £3.99 and £5.99 a month respectively for their ad-free streaming services. Do this as and when there’s something you want to watch (rather than every month), it’ll be cheaper than buying a new box.

How to watch major Sky channels elsewhere

There are actually only a handful of channels not available to watch via Freeview. These are mainly the Sky channels (eg One, Atlantic, Comedy, Witness etc) and a few others such as U&Gold, Discovery and Nat Geo. But even these can be watched without Sky or Virgin and at a far lower price.

NOW (formally NOW TV) is the main player here. It’s actually owned by Sky and allows you to watch most of the above channels and more via your broadband connection. There are also options for Sky Cinema, Sports and Hayu (reality). I’ve written in more detail about NOW TV in my review here.

The main differences to Sky’s packages are Entertainment includes Kids and HBO Max (TV only, not movies), but not Netflix, Disney or Hayu. Meanwhile Cinema does not have Paramount+ nor the two free Vue tickets you get direct from Sky. It does however have the HBO Max movies.

You also have a single add-on bundle with NOW to cover advert skipping, better quality picture and sound and multi-room, rather than separate additions with Sky.

The great thing is you’ll be paying on a monthly basis rather than on a long contract so you can ditch it at anytime, though new introductory offers now require a 12-month minimum term.

Personally I prefer to pay full price for the first month, and then bring the prices down even more by going through the cancellation process each month. Doing this usually results in a lower price offered, often without a minimum term.

Full price per monthTypical new customer offerTypical cancellation offer
Entertainment (incl HBO Max)£9.99£4.99*£2.99-£4.99
Sports£34.99£26*£18-£25
Cinema£9.99£2.99-£4.99
Hayu£5.99
Add on
Boost (HD, no ads and 2 x streams)£6£2
Boost Ultra (4k, no ads and 4 x streams)£9£6
* 12 months contract

Sky vs DIY package: price difference

If you’re looking at Sky Ultimate vs NOW, price wise, it’s most fair to compare exact like for like.

If you got Entertainment, Sports, Cinema and Boost a full price from NOW it’d add up to £59.97. Along with separate subs for Netflix with Adverts, Disney+ with Adverts, Hayu, Paramount+ with Adverts and Discovery+, you’d pay another £24.94. That’s a total of £86.92 a month, or £1,043.

Full price for these via Sky – so Ultimate (with Netflix, Disney, Hayu, HBO Max and Discovery+), Sports, Cinema (with Paramount+), Kids, Multi-room, Ad skipping and Ultra HD – would total £1,464 a year. So that’s £421 more expensive.

A reduced Sky price, based on new customers, for the same package, adds up to £1,080 a year. So you may be able to haggle something similar.

However, there are three key differences. One, it’s possible to get lower NOW and prices, so the difference will be bigger. There are also plenty of deals throughout the year for the other streaming services, with the exception of Netflix.

Next, you don’t need and probably don’t want all the extras all the time. By paying for just one or two of these at any time, you’re looking at £20 a month at most (unless you add Sports). That’s £240 a year, if not less! A huge saving.

Finally Sky will lock you in to two years, and prices are likely to increase during that time which you’ll have to pay. Since most NOW and streaming prices are 31-day contacts, you can ditch them when you don’t want or can’t afford them.

How to watch other channels from Sky

The other major mainstream channels you might want to keep that aren’t on Freeview or NOW TV are probably Discovery and TLC. Both are available from Discovery+ (£3.99 a month) or as an Amazon channel (you’ll also need Prime).

TNT Sport is also available as a monthly pass at £30.99 a month. That might be more than what you pay for the channels elsewhere, but combining it with the other savings should bring the overall cost down.

Indian channels such as are also available to stream, with Zee TV costing £7.99 a month and Hotstar (including UtSav) at £5.99.

When Sky or Virgin might be better value

There are a few exceptions though when paying for TV via Sky or Virgin could work out either better value or just a better user experience.

If you watch a lot of sport

Though occasional viewers can get a day pass for Sky Sports on NOW TV, the month pass comes in at £34.99. There are often deals that bring the price down to around £25 for a month, sometimes £20.

But if you know you are going to want and watch the main sports channels every week AND you want tojust Sky Atlantic and Netflix with Adverts via the Sky Essentials package, you might be better off with Sky or Virgin.

The cost for Sky Essentials (£15 a month as a new customer) and Sports (£20 as a new customer) would add up to £35 a month.

However, don’t forget you are tied into a long contract.

If you don’t have great broadband

On-demand streaming does require decent broadband, so you will probably want to look at upgrading to fibre if you don’t already have it. If that’s not possible – especially in rural areas – then you might need to stick with Sky (not Sky Stream) or Virgin Media for your TV.

Read next

February 25, 2026   |   Deals

Spotify music streaming deals (February 2026)

Written by

The latest free trials, vouchers, discounted annual passes and hacks to save money on Spotify.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

How much does Spotify cost?

Following a price increase in October 2025, Premium prices all went up by £1 or £2.

PlanPremium Monthly price
Individual£12.99
Duo£17.99
Family£21.99
Student£5.99

New Spotify customer deals

A couple of times a year there tends to be a new customer deal offering three months for 99p. When these come about I’ll list them below. Otherwise, new customers can always get one month for free.

Four months free Spotify with Just Eat

New customers can get four months free via Just Eat until 28 February 2026. You can cancel anytime or pay £12.99 once the free trial ends.

Get four months of Spotify

Three months free for new customers

New Spotify customers can get three months of Premium for free. Make sure you set a calendar reminder to cancel if you don’t want to pay once it’s up.

Get three months free

Three months free Spotify via H&M

New subscribers can get three months free if you apply via the free H&M membership.

Head to the H&M app and in the offer section of your H&M account you’ll need to generate a code to trigger the free Spotify trial.

You need to redeem the offer by 5 November 2026.

This isn’t open to current subscribers, and remember to cancel the subscription if you don’t want to pay full price, as it’ll renew at £12.99 per month after three months.

Get three months of Spotify

One month free Spotify

If there isn’t an increased offer, when you go direct to Spotify new customers can get usually one month for free.

Get one month free Spotify Premium

Previous Spotify customer deals

These offers for ex-customers are rare, but still appear from time to time.

Four months free Premium if you’ve not tried it before (ended)

New Premium customers and those who haven’t tried it before can get four months until 31 December 2025. You can cancel anytime or pay £12.99 once the free trial ends.

Get four months of Spotify

Two months for £6.50 (ended)

This “welcome back” offer gets you two months of Premium for the cost of half of one month. This one runs 17 November to 31 December 2025.

It’s for those who had a Spotify Premium account but cancelled it more than 30 days ago. But if you’ve used one of these offers in the last 24 months, you won’t be eligible this time.

Look out for an email offering you this, or you can also log in and see if the offer is displayed in your account. It’s for the individual Premium account only, not Duo, Student or Family.

We usually see it run two or three times a year, usually April, August and November.

Here are the previous dates from recent offers to give you an idea of when it might return.

  • 17 November to 31 December 2015
  • Mid August to 22 September 2025 (for those who cancelled before mid July 2025)
  • Mid April to 19 May 2025 (for those who cancelled before mid March 2025)
  • End of November – 31 December 2024 (for those who cancelled before November 2024)
  • Mid August to 17 September 2024 (for those who cancelled prior to 12 July 2024)
  • Mid April to 14 May 2024 (for those who cancelled before 18 March 2024)
  • Mid January – 14 February 2024 (for those who cancelled before 1 Jan 2024)
  • 27 November – 31 December 2023 (for those who cancelled before 27 October 2023)
  • August to 12 September 2023 (for those who cancelled before 16 July 2023)
  • 21 April – 16 May 2023 (for those who cancelled before 19 March 2023)
  • 29 November – 31 December 2022 (for those who cancelled before 28 October 2022)
  • August/September 2022 (for those who cancelled before mid-May 2022)
  • April – 19 May 2022 (for those who cancelled before 14 March 2022)

Existing Spotify customer deals

You don’t need to pay full price for Spotify as an existing customer. Here are my top ways to save.

12 months of Spotify Premium for the price of nine (ish)

This is a decent deal from Currys for existing Spotify Premium customers. It’ll cost you £120 rather than £155.88, so you’ll get almost three months free based on the new prices.

You can it as a digital or physical gift card that is sent in the post. Frustratingly you can’t use gift cards with Family, Duo or Student accounts. It also won’t work on Basic plans.

You can stack this with an existing gift card, or buy one now to add at a later date, though you can’t have more than 18 months of credit on your account at any time.

Buy a year of Spotify at Currys

Downgrade to Spotify Basic

This new, slightly cheaper, version of Spotify started in May 2024 but seems to have disappeared.

However if you see it in your account, you get everything that Premium offers such as offline listening (downloads) and no-adverts, but you do sacrifice audiobooks. Not all users will be able to get this, so you’ll need to check your accounts to find out. Here’s everything you need to know about Spotify Basic.

Shared Spotify subscription deals

If you live with others who pay for their own Spotify Premium you can save cash by combining them via a Duo or Family plan.

Here’s the breakdown per month per person, with annual costs per person in brackets.

Plan1 person2 people3 people4 people5 people6 people
Premium£12.99 (£155.88)N/AN/AN/AN/AN/A
Duo£17.99 (£215.88)£9 (£107.94)N/AN/AN/AN/A
Family£21.99 (£265.88)£12 (£144)£7.33 (£87.96)£5.50 (£66)£4.40 (£52.80)£3.67 (£43.98)
Monthly cost per person on each plan (annual in brackets)

Spotify Family for £21.99 a month and get six accounts

A decent option if there are three or more of you with your own Spotify accounts. Subscribe to a Family pass and you can pay £21.99 all in. So the more of you, the cheaper it gets. You can share with two people but the Duo option will work out cheaper.

Get Spotify Family

Spotify Duo – £17.99 a month for two

Duo is the best option for two people living at the same address, and this is the one we use.

You’ll pay £17.99 a month for Spotify Duo, so £4 cheaper than the family option (£50sh less a year), or £8 less than two standard Premium accounts (£96 total less a year). You will be asked to verify your address.

Get Spotify Duo

Save on Apple Music

Here are ways to save on Apple Music streaming including free trials and offers.

Save on Tidal, Amazon, Deezer & more

Here are more music streaming free trials and offers if you fancy changing from Spotify.

February 25, 2026   |   Articles

Energy price cap to drop by 7% from April 2026

Written by

The average household will pay £1,641 a year, and this change applies to everyone

The energy price cap is going down by a huge 7%, dropping by £117 per year, and taking monthly bills down by around £10 per month. This usually only applies to those who are on a standard tariff, but due to changes made in the 2025 budget to green levies, the prices will also go down for those on a fixed rate.

Here’s what you need to know about the cap and how much you’ll pay.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

How the energy cap works

The energy price cap is a limit set every three months by Ofgem, the government’s energy regulator. It restricts how much an energy company can charge customers.

The cap applies to the price of your gas and electricity on your energy company’s default or standard variable rates. These basically can go up and down whenever the energy company likes. With the cap, the energy companies have to make sure their tariffs aren’t higher than the set rate.

Despite its name, it’s not a maximum amount that you can pay for your energy. Instead, the prices set on the cap are the maximum price per unit of energy you use. Ofgem announces the figure as an annual price, as you probably don’t have a clue how many kWh of energy your family uses. 

Because of this, the quoted “cap” (£1,641) is an annual price based on a typical household. If you use more energy, you’ll pay more than the cap every year. Use less, and you’ll pay less.

There are separate caps for gas and electricity, and each cap is also made up of a standing charge (a set amount each day, regardless of whether you use any energy) and a usage charge. 

The cap will also vary depending on where you live in the UK. Prepayment caps used to always be a little higher, although this recently changed. The new energy price cap also applies to those with a prepayment meter. 

Crucially, if you’re on a fixed-rate deal, then the cap doesn’t apply and the price you pay won’t change until that fix ends.

What is the new energy price cap?

The latest announcement is a drop to the price cap from 1 April until 30 June 2026.

The new cap for a “household with average use” is £1,641 a year. This is down by about £117, or 7% from the current rate.

If you break it down to each actual unit cost, the average caps are:

 Energy price cap per unit and standing charge 1 January to 31 March 2026Energy price cap per unit and standing charge 1 April to 30 June 2026
Electricity27.69 pence per kWh
54.75 pence daily standing charge		24.67 pence per kWh
57.2 pence daily standing charge
Gas5.93 pence per kWh
35.09 pence daily standing charge		5.74 pence per kWh
29.09 pence daily standing charge
Source: Ofgem

This does vary based on where you live, though the Ofgem website has a full breakdown of the regional caps for all standing charges and units.

Why is this energy price cap announcement different?

The April price cap is a little different to the usual one, as this time, everyone will benefit. This is due to an announcement in the 2025 budget that bills would be slashed by £150 per year, by ending the funding for the Energy Company Obligation scheme and removing 75% of costs for the Renewables Obligation scheme from energy bills.

The reduction isn’t £150 as it’s also considered the usual changes to the energy price cap.

What is the new average monthly energy bill?

Despite Ofgem attempting to present the information in a way we understand, the total annual cap figure isn’t always the easiest to comprehend – especially since our energy use changes throughout the year, but this cap only applies to three months.

At the same time, it’s not a flat increase to all bills as there could be different percentage changes to standing charges and unit rates.

So we think it’s easier to understand the price cap when you view it as a monthly direct debit. Your energy company calculates this by taking the predicted cost for a year based on your previous energy usage and dividing it by 12. It’s not 100% accurate, but it’s a handy comparison.

As the cap is down by £117 per year, that makes it around £9.75 less each month. The average monthly bill will be £137.

What is the current energy price cap?

The current price cap (1 January to 31 March) is £1,758 a year, based on the average household. This is with the newer typical use figures.

When will the new prices start?

This new energy price cap will come into play on 1 April 2026 and will remain in place until 30 June 2026.

How much will you pay under the new energy price cap?

Remember, the price cap figures are based on average use. If you use more than this average you’ll pay more, if you use less, you’ll pay less. Plus, it can vary regionally, so you’ll need to check where you live to see exactly what it’ll be for you.

If you want to get a rough, quick idea, you can subtract 7% from what you pay at the moment. This doesn’t take into account the balance between unit and standing charges, or whether you’ve got an accurate direct debit set-up, but it could give you a sense of how much it’ll be.

Will you pay more or less money with the new energy price cap?

If you’re on a variable tariff

Broadly, anyone on a standard tariff will be charged less per unit of energy from 1 April 2026. Of course, the bill itself will be based on your actual energy use. 

If you’re on a prepayment meter

There is no longer a significant premium for those with prepayment meters. You can see the cap for your region on the Ofgem website.

If you’re already on a fixed tariff

If you’re fixed on a tariff, your prices usually don’t change when the price cap changes. That’s because you’ve already agreed on a price per unit of energy for a fixed length of time with your energy supplier, usually 12 months.

However, in this instance, the prices will fall for everyone. This is because of an end of funding for the Energy Company Obligation scheme and removing 75% of costs for the Renewables Obligation scheme from energy bills.

Should you fix your energy?

We’ve seen more fixed deals returning to the market in the last couple of years, and right now, the cheapest 18-month fix is more than 14% lower than the cap. The price of these tariffs depends on where you live, but it’s still worth checking them out to see if you’ll save.

You’ll be comparing prices based on the price cap now, rather than April’s one, so this means your savings will be 7% more, so make sure you consider that.

If you go for one of these, bear in mind that some will charge an exit fee if you want to swap suppliers before the end of the term.

There are also some tariffs that track at below the cap, so you’ll always pay less – but not necessarily less than a fix.

Of course, these can change, so it’s worth using a comparison site to see what rates are available.

Will bills go up again?

The current predictions are that the price cap could see a rise in July, but a lot can change in that time.  

When is the next price cap change?

The price cap is reviewed every three months (before October 2022, it was every six months).

The price cap will next change on 1 July 2026. After this, it’ll change again on 1 October 2026, a change that will be announced in August 2026.

Price cap announcements & changes

  • Announcement by 27 May 2026 for 1 July 2026 change
  • Announcement by 26 August 2026 for 1 October 2026 change

How you can reduce your bill

Paying by direct debit will reduce your bills, so it’s well worth doing this.

Otherwise, it’s hard to do much to reduce what you spend on energy other than by using less energy. The standing charges will still apply, and bills will still be sky-high, but cutting back on gas and electricity will mean you pay less.

It’s worth giving accurate meter readings if you’re not on a smart meter. This will mean you’re more likely to have an accurate direct debit on current use, rather than what you used last year, and it stops you from falling into debt on your energy account. Your energy firm will probably not change this automatically, so you might need to ask.

Don’t forget, a direct debit averages the spend out over the year, so you should hope to overpay in the summer and underpay in the winter to help even out your bills.

How has the price cap changed?

As you can see, the really big changes have happened since October 2021. Before this, the average direct debit was under £100, so even with recent cuts, we’re still paying more, and even more on top if you had been saving with a lower fixed-rate deal.

These are the energy price caps going back to 2019, we’ve roughly adjusted them for the new typical use figures. You can see the historical price caps with the old figures below.

DateCost per year with new typical use figuresEPG & grantsAverage monthly billChange (+/-)
April to June 2026£1,641N/A£137-7%
January to March 2026£1758N/A£146+0.2%
October to December 2025£1755N/A£146+2%
July to September 2025£1,720N/A£143-7%
April to June 2025£1,849N/A£154+6.4%
January to April 2025 £1,738N/A£145+1.2%
October to December 2024£1,717N/A£143+9.5%
July to September 2024£1,568N/A£131-7.2%
April to June 2024£1,690£3,000 EPG£141-12.34%
January to March 2024£1,928£3,000 EPG£161+5.13%
October to December 2023£1,834£3,000 EPG£153-7.95%
July to September 2023£1,992£3,000 EPG£166-17.04%
April to June 2023£3,151£2,402 EPG£200+50.33%
January to March 2023£4,110£2,402 EPG & £67/m grant£1330.00%
October to December 2022£3,409£2,402 EPG & £67/m grant£133-15.62%
April to September 2022£1,893£158+54.35%
October 2021 to March 2022£1,227£102+12.21%
April to September 2021£1,093£91+9.21%
October 2020 to March 2021£1,001£83-7.46%
April to September 2020£1,082£90-4.50%
October 2019 to March 2020£1,133£94-5.98%
April to September 2019£1,205£100+10.29%
January to March 2019£1,092£91
Estimated costs, due to the change in the typical domestic consumption

Historical energy price caps

These are the energy price caps from before the typical use figures changed. This change made it difficult for us to compare new caps with the old ones, so we’ve converted the old price caps into ones with the new typical figures above.

DateMax annual bill for a typical householdAverage monthly direct debitChange +/-
October to December 2023£1,923 price cap / (£3,000 EPG)£160.25-7%
July to September 2023£2,074 price cap / (£3,000 EPG)£173– 17%
April to June 2023£2,500 EPG / (£3,280 price cap)£208 (£273.33 without EPG)+ 19% (-23.3%)
January to March 2023£2,100 (£2,500 EPG – £400 grant) / (£4,279 price cap)£175 (£356.58 without EPG and grant)+ 0% (20.5%)
October to December 2022£2,100 (£2,500 EPG – £400 grant) / (£3,549 price cap)£175 (£295.75 without EPG)+ 8%(+80%)
April to September 2022£1,971 price cap£162.25+54%
October 2021 to March 2022£1,277 price cap£106.42+12%
April to September 2021£1,138 price cap£94.83+9%
October 2020 to March 2021£1,042 price cap£86.83-7.5%
April to September 2020£1,126 price cap£93.83-4.5%
October 2019 to March 2020£1,179 price cap£98.25-6%
April to September 2019£1,254 price cap£104.50+10.2%
January to March 2019£1,137 price cap£94.75

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February 25, 2026   |   Articles

The best ways to save and invest for grandchildren

Written by

If you want to put money aside for your grandchildren, or your parents want to save some money for your kids, Rebecca Goodman explains what you need to know first to get the best deals.

Giving money to grandchildren, either as a lump sum or regular payments, might not be the most exciting present in the world, but it can be invaluable to them (and your children). The money can be used for just about anything – from paying for university, a first car, or even to put towards a house deposit. 

There are lots of ways to save and invest for grandchildren, and how you do it will depend on when you want the child to access the money, how much you plan to give, and the tax implications. Here we discuss the options available.

We explain all you need to know.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

What is the best way to save money for grandchildren?

How you choose to save money for grandchildren will depend on your circumstances and there are lots of options available. A good way to decide is by looking at when you would like the child to be able to access the money. 

  • If you want them to be able to use the money before they turn 18, a children’s savings account is usually your best bet. These accounts can be opened by the child (at a certain age), by a parent or guardian, or sometimes by a grandparent (although they may need parent or guardian’s approval).
  • You may want to wait until the child is 18 to access the money, and in this case you could use a Junior ISA – either with cash or invested in stocks and shares. 
  • If you’re looking at a longer timeframe, you could also put the money into a child’s pension – which they won’t be able to touch until they’re much older. 
  • You could also save the money in your own account and then gift it to a grandchild. This could be in a savings account, an ISA or an investment product, for example. You can give away up to £3,000 a year without it counting towards your estate and if you’re giving a higher amount, inheritance tax may only be applied if you don’t live for at least seven years. You can also give smaller, regular, sums away which are exempt from inheritance tax.

The easy-access option: a children’s saving account

A children’s savings account allows you to put money away for a grandchild and they will be able to access this at a certain age. Most accounts allow children to withdraw money and may provide a debit card so they can pay for things. These easy-access accounts pay a variable rate of interest and money can usually be withdrawn at any point without a penalty.

There are also regular savings accounts for children which tend to pay a higher rate of interest. Much like adult accounts, you are often limited to how much you can put in each month, and withdrawals may not be allowed during the first year.

Specific children’s savings accounts can usually be set up with a parent or guardian’s approval, and grandparents can contribute to these as long as they have the account details.

Grandparents can also open accounts in some cases for children. You may need the parent or guardian’s approval to open an account for a child but this depends on the account and the provider. Some accounts can be opened without parental approval, but proof of the child’s ID, such as a photo of their passport, is usually required.

What is the best savings account for a grandchild?

The best savings account for a grandchild will be one that pays a decent amount of interest, allows you to put away the amount you want to, and one which suits yours (and the grandchild’s) needs when it comes to access.

Some of the best children’s savings accounts, based on the amount of interest paid, which can be opened by a grandparent include the following (you may need permission from the parent to do this):

Kent Reliance Demelza children’s savings account (4.18% AER variable)

  • Min £10 / max £25,000
  • Under 18 years old only
  • Open it in branch or via post

The Family BS Junior Saver (2) (3.35% AER variable on up to £3,000 saved, 3.6% on £3,000 to £25,000)

  • Min £1
  • Under 17 years old only
  • Open it in branch or via post

Yorkshire BS Children’s Saver (3.55% AER variable on up to £100,000 saved)

  • Min £1
  • Under 17 years old only
  • Open it in branch or via post

Halifax Kids’ Saver (2.25% AER variable on up to £5,000 saved, 0.75% on £5,000+)

  • Min £1
  • Under 15 years old only
  • Open in a branch or online

Some of the best easy-access children’s savings accounts (which grandparents can pay into but may need to be opened by a parent or guardian) include:

Nationwide FlexOne Saver (5% AER variable on up to £5,000 saved)

  • For 11-17-year-olds
  • Requires a FlexOne current account
  • Can get a Visa debit or a cash card

HSBC MySavings (4% AER variable on up to £3,000 saved / 1.2% above this)

  • Min £10
  • Ages 7 to 17
  • Debit card from 11
  • Can be opened online if parent/guardian has HSBC account, otherwise in branch only

And here are some of the best regular savings accounts for children:

Halifax Kids’ Monthly Saver (5.5% AER fixed for one year on up to £100 saved monthly)

  • Min £10
  • Under 15 year olds only 
  • Withdrawals not allowed (but account can be closed early without a penalty)
  • Can be opened online or in a branch  

Principality BS 3 Year Children’s Regular Saver (4% AER fixed for three years on up to £100 saved monthly)

  • Min £1
  • Under 15 year olds only 
  • Withdrawals not allowed (but account can be closed early without a penalty)
  • Can be opened in a branch or by post

Saffron BS Children’s Regular Saver (Issue 2) (3.95% AER variable on up to £100 saved monthly)

  • Min £1 
  • Under 17 year olds only
  • Withdrawals allowed
  • Can be opened in a branch or by post

What is the best ISA for grandchildren?

There are also a range of cash Junior ISAs for children, which come with additional tax benefits. Junior ISAs can only be opened by a parent or guardian, but a grandparent can pay money into one. 

Up to £9,000 can be put into a Junior ISA every tax year and any interest you earn is tax free. The money can’t be accessed until the child turns 18, so they’re a nice way to build up a little nest egg.   

Here are some of the best cash JISAs right now.

Best Cash Junior ISAs

Family Building Society Junior ISA

Customer rating 4.7/5
  • AER (variable)
    3.85%
  • Minimum
    £1
  • Account opening
    Branch or via post
  • FSCS Protected? Yes
  • Allow transfers in Yes

Leek Building Society Junior ISA

Customer rating 4.9/5
  • AER (variable)
    3.85%
  • Minimum
    £1
  • Account opening
    Branch or via post
  • FSCS Protected? Yes
  • Allows transfers in? Yes

Coventry Building Society Junior ISA

Customer rating 4.1/5
  • AER (variable)
    3.75%
  • Minimum
    £1
  • Account opening
    Branch or via post
  • FSCS Protected? Yes
  • Allows transfers in? Yes

Loughborough Building Society Junior ISA

Customer rating 4.9/5
  • AER (variable)
    3.75%
  • Minimum
    £1
  • Account opening
    Branch or via post
  • FSCS Protected? Yes
  • Allows transfers in? Yes

Danske Bank UK Junior ISA

Customer rating 4.1/5
  • AER (variable)
    3.75%
  • Minimum
    £25
  • Account opening
    Branch or via phone
  • FSCS Protected? Yes
  • Allows transfers in? Yes

NS&I Junior ISA

Customer rating 2.9/5
  • AER (variable)
    3.55%
  • Minimum
    £1
  • Account opening
    Online
  • FSCS Protected? Yes
  • Allows transfers in? Yes

The best investment options: Junior ISAs

You can also choose an investment ISA for a grandchild, with a stocks and shares Junior ISA. These work in the same way as a cash Junior ISA but as you’re investing your money, the returns are likely to be a lot higher but you also take on the risk of the stock market and returns are never guaranteed.  

As investing is designed for the long term, a stocks and shares Junior ISA could be a good option, as you may have an 18-year period where the money could potentially rise. Here are some of the best accounts available right now.

Best Junior Stocks & Shares ISAs
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interactive investor Junior Stocks & Shares ISA

Customer rating 4.1/5
Editor's comment
“
You need to have the Investor plan to open a Junior ISA, but this covers as many Junior ISAs as you need, so you can have as many open as you have children.
  • Annual fee
    £11.99 per month (Investor plan)
  • Investment styles
    DIY or ready-made
  • Minimum deposit
    £25 per month
  • FSCS Protected? Yes
  • Transfer in existing ISA? Yes
  • Interest on uninvested cash 1.51%
  • Trading fee £3.99
  • Foreign exchange fee 1.50%
  • Fund fees If you invest in funds, you'll have to pay fund fees between 0.03% and 1.5%
  • Note on fees You need to have the Investor plan to open a Junior ISA, but this covers as many Junior ISAs as you need, so you can have as many open as you have children.
View Deal
Our top pick

Hargreaves Lansdown Junior Stocks & Shares ISA

Customer rating 4.6/5
  • Annual fee
    0%
  • Investment styles
    DIY or ready-made
  • Minimum deposit
    £100 or £25 per month
  • FSCS Protected? Yes
  • Transfer in existing ISAs? Yes
  • Fund fees If you invest in ready-made portfolios or funds, you'll still need to pay fund fees depending on which portfolio you choose.
  • Interest on uninvested cash 2.53%
  • Ready-made portfolios available 4 risk-based portfolios
View Deal

Vanguard Junior Stocks & Shares ISA

Customer rating 4.5/5
  • Annual fee
    0.15% (max £375 per year)
  • Investment styles
    DIY or ready-made
  • Minimum deposit
    £100 per month or £500
Sells its own funds only
  • FSCS Protected? Yes
  • Transfer in existing ISA? Yes
  • Interest on uninvested cash 2.35%
  • Fund fees When you invest in funds you'll also have to pay fund fees between 0.06% and 0.79%

AJ Bell Junior Stocks & Shares ISA

Customer rating 4.3/5
  • Annual fee
    0.25%
  • Investment styles
    DIY or ready-made
  • Minimum deposit
    £25 per month or £500
  • FSCS Protected? Yes
  • Transfer in existing ISA? Yes
  • Interest on uninvested cash 2.07% up to £10,000
  • Trading fee Shares - £5, Funds - £1.50
  • Foreign exchange fee 0.75%
  • Fund fees If you invest in funds, you'll have to pay fund fees between 0.04% and 1.16%

The long-term option: Junior pensions

If you’re looking for a very long-term savings plan for a grandchild, you could open a pension for them. While it may sound like a long way off, there is currently a big gap between the amount many people have saved, and the sums they require for a decent standard of living when they retire. So, if you would like to build up a little nest egg for a grandchild to supplement or replace their income when they stop working, a pension is one option.

A Junior Self-Invested Personal Pension (or Junior SIPP) can be opened by a parent or guardian for a child as soon as they are born and grandparents can contribute. 

It is usually managed by the parent or guardian, until the child turns 18. 

The annual allowance for the 2025/2026 tax year is £3,600. Thanks to the tax benefits of a pension, this means £2,800 can be put into the account this tax year and this will be topped up by the government by 20%. 

The money can’t be accessed until the child reaches pension age – which is currently 55 but will rise to 57 in 2028.

Money within a pension is invested, so the longer the money is in the pot, the longer it has time to grow. This means putting money into a pension regularly, even a small amount, could potentially see the entire pot grow substantially.  

However, as it is an investment, it’s worth remembering that the amount could rise or fall and there are no guarantees.

What are the advantages of a Junior SIPP

Paying into a grandchild’s pension allows you to build up a retirement pot for them which they can use when they retire, but there are other benefits too:

  • Tax breaks: Money paid into a Junior SIPP is free from both income tax and capital gains tax
  • Pensions tax relief: The government adds 20% onto anything that goes into a Junior SIPP
  • Lower Inheritance Tax (IHT) to pay: You could lower your IHT bill by paying money into a grandchild’s Junior SIPP (although the rules around this are set to change from 6 April 2027).  

The lucky option: Premium Bonds

Premium Bonds are loved as not only are they a very safe place to save money because they’re government backed, there’s also the chance of winning the lottery each month.

While Premium Bonds don’t pay any interest, every £1 bond you buy is automatically entered in the monthly prize draw, where you could win between £25 and £1million.

The child’s parent or grandparent must open a Premium Bond account for them, and control this until they turn 16. They must also give you the details of the child’s account.  You can then buy bonds for them and each child can hold up to £50,000 in their account.   

The tax-efficient option: bare trusts

A bare trust can be set up so any money within an account legally belongs to the child. This can be set up by a grandparent although they will need to show the child’s ID.

The grandparent then acts as a trustee of the account and manages it until the child turns 18 (or 16 in Scotland).

A major benefit of using a bare trust is that any interest earned on the money within one is seen as the child’s income, so there could be no tax to pay. Gifts put into a bare trust are known as Potentially Exempt Transfers (PETs) and no inheritance tax is due on these as long as the person who gifted the money lives for at least seven years after it’s paid.  

FAQs

How do I invest for my grandchildren?

One of the best ways of investing for a grandchild is to put money into a Junior ISA, where the child can take control of the account at the age of 16 and access the funds within it by the age of 18.

If you are looking to invest over the very long term, a children’s pension is another option that has significant tax benefits.

You could also invest in your own name, and gift the money to a grandchild at a later stage, although inheritance tax may apply in some situations.

Can I open a savings account for my grandchild without a birth certificate?

You may be able to open a savings account for your grandchild without a birth certificate, but you will usually need to show a different form of ID instead. This could be a passport, for example. You may also need permission from the child’s parent or guardian to open the account. 

Do I need the parent’s permission to open an account for my grandchild?

Some savings accounts can be opened by grandparents without a parent or guardian’s permission. These are usually opened in trust but you will need to show some form of ID for the child to open the account.

What tax does a grandparent have to pay?

If a grandparent opens a savings account for a child, usually as a trustee, the money within the account is seen as the child’s and any interest earned will count towards the child’s income. But if the savings account is in the grandparent’s name, the interest earned will count as the adult’s and any tax due will be calculated based on their income. 

Can I open an investment account for my grandchild?

You may be able to open an investment account for a grandchild but this depends on the account and the provider. A Junior ISA or a Junior SIPP, for example, can only be opened by a parent or guardian but a bare trust account can be opened by anyone.

Tax benefits of investing for your grandkids

Investing for your grandchildren comes with many tax benefits. If you’re investing through a Junior ISA, for example, there is no income tax or capital gains tax to pay on the interest. If it’s a Junior SIPP you can benefit from tax breaks and the government will top up contributions by 20%, up to the annual limit, and with a bare trust the account is usually taxed as if it is the child’s so may be tax free.

The best savings accounts

Check out our list of the highest paying regular, easy-access, fixed and ethical savings accounts

Read next