The States say they want to provide a financial foundation to help young people in care prepare for adult life.
A new scheme is being set up to help Guernsey care leavers afford the transition to independent living.
Eligible children will have £10 a week saved for them until they turn 18, with around 40 expected to benefit when it launches.
It’s been set up by Children and Family Community Services and Guernsey Community Savings, which will manage the accounts for free.
The money won’t earn interest, but young people can choose what to do with it when they turn 18.
Associate Director of Children & Family Community Services, Lucy Cook, hopes the savings will give participants greater confidence.
"Every child in our care deserves the opportunity to look ahead with confidence and hope for their future.
"This scheme is a practical way of supporting young people as they move into adulthood, helping them to access opportunities that might otherwise be out of reach.
"Whether the funds are used towards further education, training, housing, employment or another important life goal, this initiative is about giving our care-experienced young people a stronger foundation and recognising our commitment to them as corporate parents.
"We want every child in care to know that they are valued, supported and encouraged to achieve their full potential."
Chief Executive of Guernsey Community Savings Joe Brown says this will help a vulnerable group.
"Children who have been in care can be particularly vulnerable to financial exclusion when they reach adulthood.
"Giving them the opportunity to build up savings, and the financial security that comes with this, can make a real difference as they take their first steps towards independence.
"We were keen to support this initiative, and our move earlier this year to a new prepaid card provider, allpay, has made it possible.
"As well as providing our existing clients with a better, more flexible service, the new platform gives us the opportunity to develop tailored financial schemes in partnership with local organisations."
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