Using a minor savings account for everyday savingsA minor savings account can help parents organise different sources of a child's savings in one place. Practical ways to teach money managementA minor savings account can become a useful learning tool when parents involve children in simple financial decisions. ConclusionA minor savings account can do more than store pocket money and gift savings. Before selecting an account, compare the savings account interest rate alongside features that support convenient account management and family involvement. A minor savings account is a savings account designed for children and operated according to the bank's eligibility criteria and applicable regulations.