A safe place for your Child Benefit.

Working with HM Revenue & Customs we've made it possible for your Child Benefit to be paid directly in to your Commsave account.

The account is ideal if you’re looking for a separate savings account to put away your Child Benefit – somewhere safe and convenient, but with easy access to your money when you need it.

Perhaps you’re looking to put the money aside to cover upcoming school trips, next year’s uniforms, or just a rainy day. Whatever your goal, we can help!

Best of all, while the money is in your account it will earn you a dividend, helping your money to go that bit further.

Setting up a Child Benefit Account

There are a few things you will need to hand in order to set up a Child benefit account:

Your name
Your date of birth
Your national insurance number
Your Child Benefit number
Your telephone number
Your address
The name and date of birth of your eldest child

You need to contact the Child Benefit Agency, and tell them that you'd like to change where you payments are sent to:

Commsave Credit Union
Barclays Bank
Sort code 20-61-69
Account Number 83714675

To change your payment details you can contact the Child Benefit helpline on 0845 302 1444, you can also write to them at:

Child benefit office, PO Box 1, Newcastle upon Tyne, NE88 1AA

Join Us

"Keeping my Child Benefit in a separate account means I no longer dread the annual hunt for school uniforms!"

Amanda from Norwich

Are my savings safe?

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme.

For further information about the scheme (including the amounts covered and eligibility to claim) please visit here.

Do I get a return on my savings?

Based on our financial performance, you'll earn an annual dividend, calculated on your average balance throughout the financial year (October to September).

After we've prepared our year end accounts, the Board of Directors ask the members to approve the dividend rate at our AGM each January. This is added to your savings account with no income tax deducted at source.

This is paid into accounts each January. (2023 1.75%, 2022 1.50%, 2021, 2.25%, 2020 2.25%, 2019 2.25%, 2018 2.50%)

*(Expect to return 4.00% for 2022/23, but of course this depends on our financial performance)

How can I take my savings out?

The easiest and most convenient method is using our online banking or mobile app.

You can also make a request over the phone for bank transfers or the issue of cheques.

Most transfers are made instantly 24 hours a day, 7 days a week.

Ready to join?

If you'd like to sign up for an account, simply fill in our application form to get started.....

Join Commsave

Already a member? Log in.

Child Benefit Savings

A safe place for your Child Benefit.

Setting up a Child Benefit Account

"Keeping my Child Benefit in a separate account means I no longer dread the annual hunt for school uniforms!"

Are my savings safe?

Do I get a return on my savings?

How can I take my savings out?

Ready to join?

0303 0402 660

Cookie Control

A safe place for your Child Benefit.

Setting up a Child Benefit Account

"Keeping my Child Benefit in a separate account means I no longer dread the annual hunt for school uniforms!"

Are my savings safe?

Do I get a return on my savings?

How can I take my savings out?

Ready to join?