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We're making some important changes to our branches from April 2016. Find out more

One Day Account

Start putting some money aside now to help you plan for your child’s future

This could be right for you if:

  • you want easy access via any branch or agency
  • you want to be able to withdraw money if you need to
  • you want to open an account face-to-face or by post




Interest rates are variable, paid biannually

Key Features

  • Open to all young people under the age of 21
  • Save from £10 upwards
  • Add to your savings whenever you can with no limits on deposits
  • Receive a variable rate of interest, paid twice a year
  • Make as many withdrawals as you want - with no loss of interest
  • Manage your account in any of our branches or agencies
  • Parents, grandparents and friends can make deposits too if they like
  • Manage the account for the child as a trustee, if the child is 7 or under

Why choose the Yorkshire?

  • We were voted ‘Best Youth Savings Account’ in the 2012 Moneywise Children’s Savings Awards (for the Freedom Account)
  • We were voted ‘High Street Savings Provider of the Year’ in the 2013 Consumer Moneyfacts Awards
  • We’ve attracted over 3.5 million members, making us the second largest building society in Britain
  • 97% of our savings customers would recommend us (source: YBS Customer Satisfaction Survey Jan 2012 - Dec 2012)
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Summary Box

Key Product Information for our Savings Account

Account Name One Day account
Interest rates (AERs) Variable rate paid biannually.
View interest rates.
Tax Status Gross or Net
Conditions for bonus payment N/A
Withdrawal arrangements

Unlimited withdrawals, subject to daily withdrawal limits.
All withdrawals must be for the benefit of the child.

  • In branch

Please note

  • Whether you can benefit from gross, net or tax free interest is dependent on your own personal circumstances and tax status and so may be subject to change in the future
  • All withdrawals must be for the benefit of the child named on the account. If we are unsure as to what the funds are being used for then our staff may ask you to provide proof of this. Please do not be offended if you are asked for this information

Trust Accounts - Important tax information

  • If a child's income is below the annual tax free allowance, an R85 form can be registered by their parent or guardian and means that interest can be paid gross i.e. tax will be not be deducted. Once a child reaches the age of 16, interest will be subject to tax unless these funds are transferred into the child's sole name and a new R85 is completed by the child. Please see the following link for more information http://www.hmrc.gov.uk/incometax/tax-free-interest.htm.
  • It may be possible to reclaim tax deducted from an account held in trust directly from HM Revenue & Customs by completing a R40 form. Further information and a link to this form can be found using the following link: HMRC R40 Form.
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Interest Rates

Current rates - Effective 29 March 2009

Biannual Interest Rates

Balance (£) Gross Net AER
£10 and above 1.74% 1.40% 1.75%


Balance (£) Gross Net AER
£10 and above Biannual interest only

View our previous interest rates

Please note

  • Interest rates are variable, paid biannually
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How to apply

Before you apply

A One Day Account can be opened and managed in any of our branches and agencies, or by post.

If you want to open this account in your child’s name, we’ll need to verify their identity and address, as well as yours.

If you want hold this account 'in trust' for them, we’ll only need to see proof your identity and address. For details, check our verifying your identity page.

Ways to apply

Apply in branch or agency

Enter your postcode to find the address of your nearest branch or agency.
Please note: if you are looking to open new accounts or discuss any financial products, please contact the branch prior to your visit to arrange an appointment.

Call us

Speak to one of our friendly advisers and we will send you an application pack for this account.

  • 8am - 8pm: Mon to Fri
  • 9am - 1pm: Sat
0345 1200 850*
Apply by post

We will send you what you need to get started

Not ready to apply just yet?

Request an application pack

We'll send you what you need to get started

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    Get in touch

    Visit a branch or agency

    Enter a town, city or postcode to find your nearest branch.

    Call us

    • 8am - 8pm: Mon to Fri
    • 9am - 1pm: Sat
    0345 1200 100*