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Being responsible for your own money is one of the best things about getting older. That's where the Jumpstart Savers Account comes in. Available for children aged 6-16, it lets them save their cash into one place so they can save for something special.
If children are over 11 years of age, they can open and operate the account in their name provided their parent, guardian, grandparent or other responsible adult agrees. If children are under 11, the account can be opened in their name and operated by their parent, guardian, grandparent or other responsible adult. When children have reached 11, they can then operate the account if their parent, guardian, grandparent or other responsible adult agrees.
|Account name||Jumpstart Savers Account|
|What is the interest rate?||
Interest is calculated on a daily basis and is paid on the last business day of each calendar quarter. The rate of interest on this account is tiered. You will earn one rate based on your account balance.
|Can Yorkshire Bank change the interest rate?||Yes, if we decrease your rate we will provide at least 2 months’ notice as described in Section 3.6.13 of the Terms and Conditions. We may increase your rate without giving you notice.|
|What would the estimated balance be after 12 months based on a range of deposits?||
This is only an example and does not take into account your individual circumstances.
The examples assume that:
|How do I open and manage my account?||
This is an account for children aged from 6 to 16. If children are over 11 years of age, they can open and operate the account in their name provided their parent, guardian, grandparent or other responsible adult agrees. If children are under 11, the account can be opened in their name and operated by their parent, guardian, grandparent or other responsible adult. Children can have their own dual-function card (acts as a debit card to buy goods and services and for use at ATM’s) when they are 11, providing their parent, guardian, grandparent or other responsible adult agrees.
The account can be opened in branch. The minimum amount to open and maintain the account is £1.
|Can I withdraw money?||
Yes, the controlling adult or child if consent has been given to allow the child to operate the account may withdraw funds by using internet/telephone banking/Mobile Banking Service/ATM or in branch. There is no notice period.
Interest will be paid gross.
Gross rate interest is the interest payable without taking account of any tax payable.
AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
To give you more protection against fraud we’re working to make online shopping safer.
Under new regulations for boosting online security, we might use our mobile app to confirm you’re the one making an online card payment or if we can’t do that, we’ll send you a one-time passcode to your phone.
If we can’t confirm it’s you when you make an online card payment, your transaction will be declined.
We’re making some changes to give you an extra layer of security and double-check that it’s you whenever you’re shopping online.
All you need to do is download the latest version of our mobile banking app. You’ll then be able to authenticate online card payments using the app – you can use your passcode or fingerprint ID to do this. Just make sure you remember your login details and keep them safe.
Make sure we have your latest contact details, get in touch on 0800 028 1712 to tell us your mobile or landline number. Or you can head to your nearest store. If we don’t have your phone number we won’t be able to send you a passcode and your transaction will be declined. Having your phone number will also help us to contact you quickly if we spot anything suspicious on your account.Continue to Internet Banking
You may see a difference to when you’re asked to authenticate a payment via Business Internet Banking and the Mobile App, how you do this will remain the same by using:
For more information visit our online help.
Forgot your business internet banking password, we can help.
Just give us a call on 0800 121 4209
Monday – Friday 8am - 6pm and select Option 2.