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Call us 0800 121 8899

Customer Service Centre

We are open but exceptionally busy. Where possible, please leave phone lines free for our most vulnerable customers. 

Opening hours

Monday to Friday 8am-7pm
Saturday 9am-2pm
Sunday closed
Closed on bank holidays 

Free call from mobiles and landlines.

All enquiries 0800 121 8899

Call costs explained

Savings accounts help children learn about money

Having a savings account from a young age is a good way to teach your child about money and finance – and to encourage them to save.

A savings account is safer than cash – coins and notes can easily be lost, stolen or spent. Friends and family can also pay directly into the account and your child can watch their savings grow as interest is added to the balance. 

You can open an account with just £1

Some young savers open an account with just a few pounds and add to it each month. Others put in a lump sum and don’t touch it for years. Some have relatives or friends paying in money for them to use when they’re older.

With junior ISAs, the child can’t take any money out until they reach 18, and for our other children’s accounts, withdrawals are only allowed after the child reaches 7. With all our accounts for children, every penny belongs to the child.

We offer a Junior Cash ISA

Junior Individual Savings Accounts (junior ISAs) are longer term tax-free savings accounts for under 18s. Interest on junior ISAs is always paid tax-free.

For the 2020/2021 tax year, the deposit allowance for junior ISAs is £9,000.

We offer a Junior Cash ISA which pays an attractive variable interest rate. When the young person reaches 18, we'll contact both the registered contact (if applicable) and the young person to let them know how to access their money. The young person will need to read & sign the enclosed application and also send in a form of photo identification.

Find out more about junior ISAs

How to pay into a child's Coventry account 

As soon as we open the account, it’s easy to make deposits. You or the young person can pay in by cheque or cash, or arrange a transfer from another Coventry account, or an account with another bank or building society.

How and when you can pay in depends on the Specific Terms for the account you open. 

Transferring from another Coventry account
Do you want to close an existing Coventry account held by or for your child and move the money to open a new account? Or do you just want to transfer some of their money? In either case, the transfer must be authorised by the person who signed the declaration when you opened the account you’re transferring from. If you’re not sure, just ask us. We may also need to see some ID. Remember any money transferred must stay in the name of and/or for the benefit of the child.

Transferring from a Junior ISA or Child Trust Fund
If your child holds a junior ISA (either cash or stocks and shares) or a Child Trust Fund with another provider, it’s straightforward to transfer the savings to a Junior Cash ISA with us. Ask us in any branch or call 0800 121 8899 and we’ll explain how it works. The registered contact will need to fill in and sign a form, and then we do the rest.

When your child reaches 18

When it’s coming up to the account holder’s 18th birthday, it's a good time to review their finances. For Intro and Junior ISA accounts we automatically convert it to an adult account and write to them to let them know.

A junior ISA ‘matures’ when your child reaches 18

If your child has a Coventry Junior Cash ISA, when they reach 18 we’ll automatically convert it into a Matured Junior ISA. This is a straightforward, flexible adult cash ISA, so your child will carry on earning tax-free interest on their savings. They can take money out after they turn 18, but we’ll need to see some up-to-date identification first.

Opening an account for a child : the ID we need to see

Before we can open the account, we’ll need to see ID for the child and, if you’re signing the application form with them and you’re not already a Coventry member, we’ll need to see ID for you too.

ID requirements

Tax on children’s accounts

With a Junior Cash ISA, interest is always paid tax-free. For all other accounts, we pay the interest gross, and it counts as ‘income’. If a child is earning above the threshold, they might have to pay tax on it. To find out more, visit the Government’s website  and type ‘tax on savings interest’ in the search box.

Formal trust and joint accounts

You may be able to open an account under a Formal Trust. In limited circumstances a joint account could be suitable. If you'd like to know more talk to one of our specialists in any branch, or call us on 0800 121 8899.

Ways to apply

At a branch
Bring your child in with you if they’ll be signing the application form. We can usually open the account straight away. You'll need some identification for both you and the child.

Go to the page for the children’s account you’re interested in, then click ‘Order a pack’. We’ll send you all the information you need. To apply, you then need to complete and sign the application form and return it to us with the relevant identification (in the reply-paid envelope we’ll send you).

By phone
Call 0800 121 8899 and ask for an information pack. To apply, you then need to complete and sign the application form and return it to us with the relevant identification (in the reply-paid envelope we’ll send you).