Which bank is best for 14 year old?

mae

Hi can anybody suggest a good bank for my son? He has a paper round and will be saving approx £20 per week but it has to be instant access and if possible I'd like him to have a switch type card to introduce him into the world of managing his money etc early on.
Thanks

Js_Other_Half

I'm not sure that a childs account will have a Switch card?

Js_Other_Half

I've done a little bit of research, and it seems that at 14 your son may be entitled to a Solo card - which isn't accepted everywhere.
http://www.solocard.co.uk/faqs.asp

mae

Thanks for that I'll have a read and see which banks may offer this...

Savvy_Sue

Question's been asked recently for an 11 year old, and I said there that mine have all had NatWest accounts from 11 which gives a solo card. Been very useful. Does pay interest. Halifax was, I believe, also mentioned.

ffym

I'm considering one for my daughter too. The Co-op Bank looks worth considering as they are offering good interest, an annual bonus and a cashcard for use in any link machine for children 11+. I believe Switch cards are only available to over 18s.

aylesby

We used the Co-op for our kids and found it good for everything apart from taking cash out as there are no cheques.
My son had an ATM card maximum of £200 a day. When he wanted to move £2k to a higher interest Building Society, he asked customer services many times (at least six) for a cheque. Eventually we did it by ATM cash and he is now with the Nat West. He companied to the Co-op and won a £15 apology.
Kids will benefit from having a local bank to deal with. Through the years the Co-op have closed a number of smaller branches and are less flexible than before

ffym

aylesby wrote:

We used the Co-op for our kids and found it good for everything apart from taking cash out as there are no cheques.
My son had an ATM card maximum of £200 a day. When he wanted to move £2k to a higher interest Building Society, he asked customer services many times (at least six) for a cheque. Eventually we did it by ATM cash and he is now with the Nat West. He companied to the Co-op and won a £15 apology.
Kids will benefit from having a local bank to deal with. Through the years the Co-op have closed a number of smaller branches and are less flexible than before

A local branch, I think, is a must for kids.
How did they expect you to get your money out? It could take ages by ATM the way they restrict daily withdrawals! I don't suppose they would do an electronic transfer either?