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.
0.4%
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This product may be withdrawn at any time.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
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Summary box

Account name

Cash Zone (Issue 2)

What is the interest rate?

The variable rate below applies from 1 June 2020.

  • £10 plus - 0.40% 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. 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.

Can Tipton & Coseley Building Society change the interest rate?

The interest rate on your account can change at any time. More information can be found in section 7 of our Terms and Conditions for Savings Accounts.

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

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 0.40% gross / AER (variable) would be £1,004.01.

This estimation is an illustration only and assumes:

  • the account is opened on 1 January;
  • there are no additional deposits or withdrawals made;
  • interest is paid back into the account;
  • there is no change to the interest rate; and
  • interest is paid gross on 31 December.

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

How do I open and manage my account?

You must be aged 15 or under to open a Cash Zone account. When you turn 16, subject to requirements being met, we'll automatically transfer your Cash Zone account to an alternative from our savings range. You'll be notified of this in writing. Accounts can only be opened with a single child named as beneficiary.

The minimum deposit amount to open an account is £10. You can open your account by visiting any of our branches or by completing an application and posting it to our Tipton Head Office.

For opening deposits made by electronic payments, you must send your initial deposit within 10 working days, or the account will be automatically closed.

We'll require identification to open a Cash Zone account. We have access to credit reference agency databases which in the majority of cases allows us to prove identity and address without the need for paper-based identification, if we do require further proof we'll let you know. However, we don't carry out these searches against customers aged under 18. Please click here to see our list of acceptable identification.

If you open a Cash Zone account in trust we'll need to satisfy identification requirements for both the trustee and the beneficiary.

A minimum balance of £10 must be kept in the account. Withdrawals taking the balance below £10 are only allowed if you close the account.

Additional deposits by cash, cheque or standing order are allowed at any time. All cheque deposits must be made payable to the child named on the account. The maximum balance allowed is £25,000.

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

Can I withdraw money?

You are allowed to make six withdrawals each calendar year without charge or notice. After your sixth withdrawal, no more will be allowed until the next calendar year. This includes account closure.

Withdrawals are subject to our daily withdrawal limits which are:

  • £500 by cash; and
  • £20,000 by cheque.

Larger amounts can be withdrawn if you provide two days notice, subject to £2,500 maximum cash per day. The minimum amount for a cheque withdrawal is £10.

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

Additional information

Interest is paid gross (without tax deducted).

You have 14 days to change your mind, if you decide your Cash Zone account isn't right for you. We will then arrange to close the account and help you find a more suitable savings account with us or return the money to you.

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.

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

Ready to apply?

How would you like to apply?

How would you like to apply?

In Branch

Apply at one of our branches

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By Post

Apply by post

Open account by post

Open account on our app

Account Summary

Account name Cash Zone (issue 2)
gross/AER 0.4%
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 Deposit Guarantee Scheme Information Sheet first.

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