Looking to open a bank account for my son aged 9?

gillian2001uk

Does anyone have any suggestions on where is the best main street bank branch is to open an account for my son, aged 9?

Lokolo

I opened a HSBC account when I was 12 I think, I got a debit card and everything. But I think 9 is a little too young for a debit card etc.!

Elsewhere I am not actually sure, I think places like Lloyds and Halifax you can get those booklet things still. My OH still has her booklet from when she was younger with lloyds but not sure if they still give them out though.

milliejo

My son aged 9 has an account with Bradford & Bingley who have a branch local to us. The interest rate seems reasonably good and he gets a free book each year as long as he makes I think at least 3 payments in

Cranston_2

We went with HSBC for our kids.

They seem fine.

formulaonefan

What is the minimum age for kids to get a bank account? Can someone get bank account for 1+ year kid?

Horseygal_2

formulaonefan wrote: »

What is the minimum age for kids to get a bank account? Can someone get bank account for 1+ year kid?

No minium ages as far as I am aware. I opened HSBC accounts for both my sons when they were literally weeks old. Just took their birth certificates along and my ID and it was all set up no problems.

xx

athensgeorgia

Horseygal wrote: »

No minium ages as far as I am aware. I opened HSBC accounts for both my sons when they were literally weeks old. Just took their birth certificates along and my ID and it was all set up no problems.

xx

I did the same only mine was Halifax, you get a book with the young savers (i think its called) account, the accounts in the adults name re: the child and when the child turns 7 they can withdraw over the counter with permission from the parent and when they turn 11 they get a cashcard and can withdraw at a machine btw make sure you fill the form in for tax exempt under 16 year old and my 2 were 2 months and 1 month old

JoshuaSBK

Hey gillian2001uk. I don't know if this is still relevant but try ShoreBank. I work with them and they're offering a High-Yield Savings Account of 3.5% APY. No monthly fees and only a $1 minimum deposit. It's all done online too, so it doesn't matter if you live in Canada, the U.S. or Antarctica. If you have internet access you can bank with them.

They've also got a superb mission statement, focusing their loans on projects and businesses who aim to improve the community and heal our environment. Definitely an institution you and your children can be proud to be apart of.

alanq

A number of UK organisations offer children's accounts at interest rates much higher than 3.5% and without converting the funds to and from USD.

http://www.thisismoney.co.uk/saving-and-banking/best-savings-rate/article.html?in_article_id=394168&in_page_id=50

And of course there are Child Trust Funds up to a limit
http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=397419&in_page_id=7

mattdickinson

JoshuaSBK wrote: »

Hey gillian2001uk. I don't know if this is still relevant but try ShoreBank. I work with them and they're offering a High-Yield Savings Account of 3.5% APY. No monthly fees and only a $1 minimum deposit. It's all done online too, so it doesn't matter if you live in Canada, the U.S. or Antarctica. If you have internet access you can bank with them.

http://www.mbdonlineaccount.sbk.com/bins/site/content/pages/digitalinsight/faq.asp#OpenAccount

"All applicants must be U.S. residents"

How exactly is this relevant to the UK?