Young Savers Account

Available from birth to under 16s

Young Savers

Our Young Saver Account is a great way to teach young people to save and manage their money.  It is available to all children from birth to under 16 years, who live or study in Telford and Shropshire.  A Young Saver Account can be opened with as little as £1 and children can save as little or as much as they want, whenever they want.

Benefits of a Young Savers Account

  • Open for Young Savers from birth to under 16 years
  • No membership fee
  • No charges for paying in or withdrawing from the account
  • Parents, guardians, relatives & friends can pay in at any time
  • Save as little or as much as required, as often as you want
  • Annual bonus as a reward for saving – 2.5% for the past 3 years
  • A great Birthday or Christmas gift!
  • A great way to teach children about saving!
  • A Young Saver member under the age of 12 years must have a nominated parent or guardian who manages their account
  • Optional Smartcash VISA Debit Card with rewards and App*
Young Savers Application Form

To open a Young Saver Account –

  1. Complete an application form and return it to FAIRshare
  2. Provide proof of identity and your address
  3. Deposit your first £1 and start SAVING!

One of the following is required –

  • Child’s Birth Certificate
  • Child’s valid Passport
  • A parent or guardian must either already be a member of FAIRshare, or provide two recent and original forms of identification to confirm both identity and address

Paying money in to your Young Saver Account –

  • A parent, relative or guardian can set up a regular standing order or bank transfer
  • Payroll savings from a parent, relative or guardian – if offered by their employer

Withdrawing money – 

Happy 16th Birthday!

A FAIRshare Young Savers account is available to anyone from birth to under 16 years, so what happens to your account when you reach 16?

On your 18th birthday, you can manage your FAIRshare account online using Online Members’ Access & benefit from FAIRshare’s affordable loans, subject to meeting our loan criteria.

Your Young Savers Account will automatically transfer to an adult savings account.  Like all adult members, you will become a shareholder in FAIRshare & can share any profits made in the form of a dividend, as a reward for saving regularly.  You continue to save regularly as before, perhaps for a new phone, driving lessons, university or your own place to live.

We’d love to hear from you.

Do you have a question about FAIRshare services? Our team is ready to answer all your questions.