Pocket Money

Not strictly relevant to the thread (sorry), but I remember getting 5 (old) pennies when I was 5, then 6 when I was 6 etc, until I was 10 and then I got a whole florin every week (would be 10p now). Of which a threepenny bit had to go in the church collection plate.

Most of my old pennies went in the sweet shop I'm afraid. Four fruit salad chews for 1d, sherbet dab for 2d. But from the start at least one or two pennies had to be "saved" every week.

I do agree that children need to have their own money and learn how to save it and use it sensibly.

Ours have Halifax accounts which give them ATM cards so they can access their money.

Oh I transfer some into their savings account and give some cash.

Our grandchildren get their age in pocketmoney every month, but I save it and they get a lump sum twice a year. At summer holidays and Christmas.

So each year they have a pay rise.

It has to be the parents decision but I agree at 11 she needs to start learning how to manage her own money.
I would love to open an account for our GC that we aren't allowed to see but it can only be done with a parents (signature ??) approval.

Oh how many times have I had this conversation with my DS!thankfully he and his wife have loads more money than we ever have but the children have no sense of the value of anything. They do now have some pocket money but never go to a shop to spend it. Everything is purchased online and mostly they get whatever they want. I have pointed out that before they know it the 12 year Old will be at uni and will have to manage her money but to no avail. We were all asked if we would contribute to the purchase of a new iPhone for her for Xmas. I agreed but imagine my surprise when I discovered three weeks ago that she already had it! They didn’t even make her wait for Xmas and I’m sure the other granny will still give her another Xmas present as well.

I do agree with you midgey that children should have regular pocket money, but that’s a decision for the parents to make.

With respect midgey it does not matter what you feel - her parents need to make the decision about pocket money. Or are you volunteering to provide the money?

Whilst Go Henry sounds very good in many ways, I was put off by the fees. We do very small amounts of pocket money in cash, and gifts into a children's savings account.
I would look around at children's accounts and see what suits you / your GD best. There are still some nice children's accounts with a few banks and local Building Societies, so a lot depends on where you are.
Some banks do a children's account with a card from age 11 (I think Ntaionwide do)

My granddaughter will be 11 in April so going to Secondary school in September. I feel she should be getting used to money beforehand.

I would be interested to know how old your GD is midgey I want to do a similar thing, putting pocket money into an account , for my GD. She is 11. Her parents think she is too young. But I think not. She needs to start learning about money . I have looked at goHenry and also Santander Junior123. You have to start that one off with £300. Not sure where we go from here. I will just wait and see .