Bank Account for 12 Year Old

[manchesterlady]

Hello there,

I am looking to open a bank account for my niece as part of her 12th birthday present. I want a current account so that I can put money into it and she can put her pocket and birthday money in, and she can learn about how to operate a bank account.

It would be nice to have some cool features like a design your own card and maybe some freebies, discounts etc. I can't seem to find anything at all from the regular UK high street. I have found an HSBS account that pays a pitiful 0.5%, and that's about it. Does anyone have any suggestions?

Thanks for any tips offered - much appreciated.

[xylophone]

http://www.moneysavingexpert.com/sav...vings-tax-free

[reclusive46]

http://www.lloydstsb.com/current_acc...9s_account.asp

Lloyds TSB's under 19s account pays 2.5% and comes with a Visa debit card.

[Stuart_W]

Unless you are expecting your niece to be an unusually rich 12 year old, I would suggest making practicality for her the number one decision maker in which account will be best.

Cash card / debit card access? What would her parents be happy with?
Easy ability to pay cash in - does she walk past certain branches to/from school for example, or nearby where she lives? Would post office access be of benefit?

Having said that, though, whilst like most of the high street banks, Co-op's interest rate is rather rubbish there is a £10 annual bonus each year which might outweigh even the best interest rate if the account is initially going to be for saving up the odd bit of birthday money and pocket money (although it needs an "average balance" of at least £50 over the year)