Danske Bank

Who they are

Danske Bank's roots in Northern Ireland stretch back to 1809, making it one of the oldest banks in Ireland. Northern Bank Limited, which trades as Danske Bank, is a retail bank in Northern Ireland. Northern Bank took on the Danske Bank name in November 2012 , when its Danish parent - one of Scandinavia's largest banking groups - unified its international brands under a single identity. Danske Bank is a standalone business unit within the Danske Bank Group and operates under a UK banking licence.

The bank is considered one of the leading retail banks in Northern Ireland, with 44 branches and three business centres. It is also one of a small number of banks that still prints its own banknotes - Northern Bank trading as Danske Bank is one of the three commercial banks in Northern Ireland permitted to issue their own banknotes.

One thing worth noting for savers: Danske, the biggest bank in Northern Ireland, has received recognition as a Which? Recommended Provider, with customers particularly happy with customer service and the mobile banking app. 24/7 digital banking is available through eBanking and the mobile app, where you can view spending, manage payments, and chat to an adviser.

Savings accounts

Danske Bank's savings range available through DepositScout is currently focused on children's savings. Their Junior Cash ISA offers a variable rate of 3.75% AER on balances from £25, with the account managed online and via the app - practical for the day-to-day. As with all Junior ISAs, access is locked until the child turns 18, so it is genuinely a long-term commitment rather than a flexible pot.

One important point for parents: Danske Bank's Junior Cash ISA is only available to customers in Northern Ireland. If you are based elsewhere in the UK, you will need to look at alternative providers.

As for FSCS protection, the DepositScout data shows deposits on this account are protected up to £120,000 - above the standard £85,000 limit that applies to most savings accounts. Danske Bank is a trading name of Northern Bank Limited, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. That means your money sits within the UK regulatory framework, not a foreign one.

Switching to Danske Bank

There are no current account switch offers listed in our data at this time. It is worth checking back, as Danske Bank has run switching incentives in the past. If you are based in Northern Ireland and considering a full banking relationship, their current account and digital banking offering is worth a look in its own right.

Is it right for you?

For Northern Ireland-based parents looking to build a tax-free savings pot for a child, Danske Bank's Junior Cash ISA sits in a competitive part of the market. A 3.75% variable rate, a low minimum deposit of £25, and the convenience of online and app management make it a reasonable option - though it is not the highest rate available right now, and it is not open to families outside Northern Ireland.

The bank's long history and full UK regulatory status mean there is nothing to worry about on the safety front. Just keep in mind that the rate is variable, so it can change at any time.

Check the live rates shown on this page to see how Danske Bank's Junior Cash ISA compares to the rest of the market before you apply.