Designed to help them save for their future. Our Cash Zone account helps children get into the habit of saving.

Gross/AER
Gross means the contractual rate of interest payable. AER stands for the annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
4.25%
Notice for withdrawals
Some of our accounts require you to give notice before you can withdraw money from your account. Further details on the withdrawal restrictions that apply to the account can be found in the section titled - 'Can I withdraw money?' - in the Summary box.
no notice
Age restriction
Minimum or maximum age you must be to open this account.
under 16 years

This product may be withdrawn at any time.

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Key features

  • Avaliable to under 16's only
  • Maximum of 6 withdrawals each calendar year

Summary box

Account name

Cash Zone (Issue 2)

When you're ready to open your account simply download and complete an application form.

What is the interest rate?

The variable rate below applies from 19 August 2023.

  • £10 plus - 4.25% gross / AER

Interest is calculated daily and paid annually on 31 December.

When you're ready to open your account simply download and complete an application form.

Can Tipton & Coseley Building Society change the interest rate?

We may increase of decrease the interest rate at any time. Further details can be found in our Savings Terms and Conditions, available on our website, in branch or in your welcome pack.

When you're ready to open your account simply download and complete an application form.

What would the estimated balance be after 12 months based on a £1,000 deposit?

The balance after 12 months on an initial deposit of £1,000 with an interest rate of 4.25% gross / AER (variable) would be £1,042.50.

This estimation is an example only and assumes:

  • There are no additional deposits or withdrawals made;
  • Interest is paid gross and added to the account on on 31 December; and
  • There is no change to the interest rate.

This estimation is only an example and does not take into account any individual circumstances.

When you're ready to open your account simply download and complete an application form.

How do I open and manage my account?

The account is available for anyone aged 15 or under. The account must be opened with an adult named as the account operator, and we will require proof of identification for the adult and the child.

When you turn 16, we will automatically transfer your account to an account from our savings range. We will notify you of this in writing at the time.

You can open an account at any of our branches without an appointment or, through the post by sending us a completed application form with a cheque payable to the child named on the account for your initial deposit. Application forms can be posted to you on request, collected in branch, or printed from our website.

Only one account can be opened per customer.

The minimum amount to open this account is £10. You must have at least £10 in the account to keep it open. Withdrawals taking the balance below £10 will only be allowed when you are closing your account. Opening balances made by electronic payment must be sent within 14 days of opening your account, or the account will be automatically closed. The maximum amount that can be held in this account is £25,000 per account.

You can add money to your account at any of our branches by cash, cheque or standing order. All cheques deposited into the account must be in the name of the child named on the account.

When you're ready to open your account simply download and complete an application form. 

Can I withdraw money?

Withdrawals are limited to a maximum of six each calendar year. After your sixth withdrawal, no further withdrawals or account closure will be available until the next calendar year. All withdrawals must be for the benefit of the child. Withdrawals can be made by cash and cheque only. No internal transfers, electronic transfers, direct debits, faster payments, or standing order withdrawals are available.

When you're ready to open your account simply download and complete an application form. 

Additional information

Interest is paid without tax deducted.

If you decide within 14 days of opening your account that this isn't the right account for you, you can have your money back without charge. We'll arrange to close the account and return your money to you, or transfer it to another one of our savings accounts.

Interest rates explained:

  • Gross means the contractual rate of interest payable.
  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

The Tipton offer a range of savings accounts on a non-advised basis. There may be another savings account which is more suited to your personal needs. Please, speak to a member of the team for other product information.

Issued date: 19 August 2023

When you're ready to open your account simply download and complete an application form.

Ready to apply?

How would you like to apply?

How would you like to apply?

By Post

Apply by post

In Branch

Apply at one of our branches

Find a branch

Open account by post

Open account on our app

Open account online

Account Summary

Account name Cash Zone (issue 2)
Gross/AER 4.25%
Notice for withdrawals no notice
Age restriction under 16 years

Things to know...

  • Avaliable to under 16's only
  • Maximum of 6 withdrawals each calendar year

How to apply

You must print off the following document and post it to our head office:

Tipton & Coseley Building Society,
70 Owen Street,
Tipton,
West Midlands,
DY4 8HG

Download application form

Here to help you...

  • Open a new savings account
  • Answer any of your questions
  • Discuss your savings options
  • Help with your existing account
Gayle, from our savings team is happy to help 0121 557 2551*
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

Perfect, lets get started

To open your account simply download an application form. You'll also need your initial deposit, which if it a cheque, must be payable in the name of the child or the trustee re the child.

Please post your completed form to The Tipton & Coseley Building Society, 70 Owen Street, Tipton, West Midlands, DY4 8HG, and remember to include a cheque.

Alternatively, you can open an account at any of our branches.

You should also read our Terms and Conditions for Savings Accounts leaflet and the Financial Services Compensation Scheme sheet.

All new savings customers must sign future windfall rights to our Charitable Foundation.


Our savings customers say...

"I've been with the Tipton for over 20 years now and always will be, they give me everything I need from a Building Society and are always happy to help." Mrs Cooke
Savings customer read more

Our savings customers say...

"I was given real peace of mind that my savings would be carefully looked after. I know there is always advice available should I need it and the staff at the Tipton are always there." Mrs Thomson
Savings customer read more