The cash gift for children that also supports charities

This Christmas, anyone worrying about what to buy for a child should consider another option. Charity Bank, the not for profit savings bank, offers an account for those under the age of 16. The Small Steps account provides an ethical alternative to traditional savings accounts, making it a thoughtful gift that helps charities at the same time.

Charity Bank’s Small Steps account can be opened by any adult on behalf of a young saver. Funds will be kept safe until the child reaches the age of 16, with a nominated adult being responsible for operating the account until then. Money in the account will earn 2% gross interest per annum which is added quarterly, so the saver can watch their gift grow.

Until the saver is ready to claim the money, it will be invested in charitable organisations, so the child knows that their gift has been used for good. The minimum deposit to open an account is just £10, making it available to any budget.

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

Charity Bank also offers a range of savings accounts that allow adults to earn interest on their deposits while providing charitable organisations with much needed financial support at no extra cost. To open an account with Charity Bank visit charitybank.org.