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Coronavirus - Help us to help you

From Monday 12 April 2021, our branch opening hours will be: Monday to Friday 9am – 3pm and Saturday 9am to 12pm.  Branch telephones will be open Monday to Friday 9am to 4.30pm.

Our telephone opening hours at Principal Office are 9am – 6pm Monday to Friday and 9am to 12pm on Saturdays.

Please note visitors to our branches and Principal Office will be required to wear a face covering.

Thank you for your cooperation

 

Children’s Savings Accounts

melton childrens saving accounts

Savings accounts designed for children under the age of 16.

Product Name Minimum Balance Interest Paid Gross Interest % AER % Withdrawals Add to brochure download
Young Savers £5+ Annually 1.25 1.25 Easy Access
Wild Ones Young Savers £5+ Monthly 2.40 2.43 30 days' notice to withdraw
Tax treatment depends on individual circumstances and may be subject to change in the future

Savings accounts for under 16s. Encouraging your children to save some pocket money or birthday money is a great way to pass on the “saving mentality”. If you are wanting to encourage your children to save, we have two savings accounts designed for young savers.

Our Young Savers account is an easy access children’s savings account that means you can access your money when you need to. Young Savers is a straightforward children’s savings account that gives you the flexibility to pay money in, and take money out when you need it.

Our Wild Ones Young Savers account is a 30 day notice account. This account offers a higher rate of interest than the easy access Young Savers account but you need to give us 30 days’ notice if you wish to make a withdrawal. The Melton is giving away special Wild Ones Packs to children aged 0 to 16 years who open a Wild Ones Young Savers Account at any of our branches. The Wild Ones Packs contain a pocket wildlife guide, wildflower seeds and more, encouraging young people to enjoy wildlife and get into the habit of saving. New Young Savers can also choose one of our limited edition passbook wallets – will yours be a lizard, toad, rabbit, owl, harvest mouse or a seal?

Take a look at our Handy Guide to making the most of your savings.

Here to help
Not sure which account is right for you? Get in touch and our experienced staff will be happy to talk you through your options and help find the best children’s savings account for you.

How safe are your savings?
You may be worried that if you tie your money up in a savings account, it won’t be protected. However, the Financial Services Compensation Scheme is an independent body that serves as a last resort to cover most deposits, including savings up to the value of £85,000. So, if for some reason your bank or building society failed, your money is protected by the FSCS.

The Society’s Bank Account details which are used for paying money in to your account electronically are as follows: 

Sort Code:  40-05-30

Account Number:  74574915

Beneficiary*:  Melton Mowbray Building Society

Reference/Account Number:  You must quote your full account number (i.e. ABC1234567DEF) to ensure that the funds reach your account.

*Not all Banks or Building Societies will require this.

The Melton School Bank

The Melton School Bank service encourages pupils to save in a fun and engaging way. The Society has two savings accounts for children aged 0 to 16 – the Wild Ones Young Savers and the easy access Young Savers.  The Society is working with our local Wildlife Trusts to raise funds to protect wildlife and we are giving away special Wild Ones Packs to children who open a Wild Ones Young Savers Account at any of our branches. The Wild Ones Packs contain a pocket wildlife guide, wildflower seeds and much more, encouraging young people to enjoy wildlife and get into the habit of saving.  All pupils who open a young savers account at one of our School Banks receive a Melton piggy bank.

A member of our staff visits local primary schools regularly at the start or near to the end of the day to open the Bank with the help of the children.  If you would like some more information about the Melton School Bank service please contact Jane Gilhespy on 01664 414141 or email j.gilhespy@mmbs.co.uk.