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Ethical bank offers children chance to fund a better future

18th February 2011 Print

Ethical and sustainable bank, Triodos, has launched Right Start Saver, an easy access children's account paying 0.8%. This account reflects the growing appetite  for children's savings products that offer a competitive rate of return and enable children to learn how money can be used to help make the world a better place.

The Right Start Saver account is for children aged between birth and 18 years old, and can be opened with as little as £1. An account can be opened either solely or jointly between two adults on behalf of a child from birth, or a child aged seven or above can open an account in their own name.

With one in six parents (16%) reporting that their children are already saving for themselves, Triodos' Right Start Saver account will enable forward-thinking children like these to learn about the power of money and how to manage it from an early age.

The figures from Triodos Bank also reveal that more than one in four (28%) parents and one in five grandparents (20%) are currently saving for their children or grandchildren, showing that many parents feel its important to get their children off on the right footing early on.

With Right Start Saver, as with all of Triodos Bank's accounts, savers' deposits will be used exclusively to fund organisations helping to make the world a better place as Triodos only lends money to businesses delivering a positive environmental, social or cultural impact, rather than simply screening out those businesses with negative impacts.

Via the website children, parents and grandparents can see the projects their deposits are helping finance, and even visit in person some of those businesses that may be in their own town or city.  Current Triodos projects include the solar PV installation at Glastonbury's Worthy Farm, Hugh Fearnley-Whittingstall's businesses, Mulberry-fashion founder Roger Saul's business among many other sustainable enterprises. In contrast to the opacity of more mainstream banks, Triodos is the only bank to publish to its customers exactly how savings on deposit are being used.

Huw Davies, Head of Personal Banking at Triodos Bank, said: "Despite widespread disillusionment with the mainstream banks, over five million adults remain with the bank their parents set up for them as a child.

"This demonstrates just how important it is for parents to choose the right bank for their child's and everyone's future. The Right Start Saver account is a great way for children to get a head start in saving, and for parents and grandparents to help them realise how their money can be used to help make the world a better place, while getting a competitive return on their savings."

Triodos Bank Right Start Saver is available to customers who apply online at