Bank account for teenagers?

Glob_2

I have 14 year old twins who I would like to start giving financial responsibility to, can anyone recommend good bank?
Looking for:

• Some kind of limited bank card
• Upgradable as they get older
• On line access....both very computer literate!

Thank You

the182guy

Here's one for 11-16 year olds:

http://www.rbs.co.uk/microsites/personal/revolve/about.htm?DCMP=ILC=RBSRvlvGetRvlvBnr

It's an RBS 'Revolve' account, they will get a Solo debit card which they can design their own front cover (costs a 5er). Also will get 2for1 on Vue cinema tickets.

It says good interest but I don't know what the rate is.

newfoundglory

Lloyds TSB under 19's account, which comes with a full Visa debit card and lots of interest (says 3.30%).

http://www.lloydstsb.com/current_accounts/under_19s_account.asp

Kavanne

the182guy wrote: »

Here's one for 11-16 year olds:

http://www.rbs.co.uk/microsites/personal/revolve/about.htm?DCMP=ILC=RBSRvlvGetRvlvBnr

It's an RBS 'Revolve' account, they will get a Solo debit card which they can design their own front cover (costs a 5er). Also will get 2for1 on Vue cinema tickets.

It says good interest but I don't know what the rate is.

Natwest's Adapt account only offers online access for age 16+ (Source: https://www.natwest.com/adapt) and RBS and natwest are essentially the same so 14 year olds wouldn't get online access.

book12

Abbey and HBOS are good too.

Bank accounts get upgraded automatically when they are 18.

EarthBoy

Halifax's Expresscash account is for 11-15 year olds. It comes with a Visa Electron card and allows online banking. You can't use bank counters unless you are withdrawing more than £300.

http://www.halifax.co.uk/bankaccounts/expresscash.asp

For 16 and 17 year olds, Halifax Cardcash has the same features as Expresscash.

http://www.halifax.co.uk/bankaccounts/cardcash.asp

the182guy

It looks like you might struggle to get online access at the age of 14.

The Lloyds TSB one looks good, no internet access until 16yo but fair interest and a full visa debit card.

I have been with Halifax since before the age of 14 and they have been good since then. So I can recommend them.

You should go visit each of the banks branches in your local town centre, see what they offer you.

The minimum £300 withdrawal over the counter at halifax seems harsh for 11-15year olds. You could ask in the branch about that.

peachyprice

HSBC 'My account' from age 13 gives a solo card, online banking, and telephone banking.

Which bank are you with? It may be easier to go for the same bank, if you want to transfer money to them it will reach their account instantly even if the account doesn't offer instant payments.

rb10

the182guy wrote: »

It looks like you might struggle to get online access at the age of 14.

The Lloyds TSB one looks good, no internet access until 16yo but fair interest and a full visa debit card.

I have been with Halifax since before the age of 14 and they have been good since then. So I can recommend them.

They will be able to get internet banking from Halifax, as well as a debit card (Electron).

Halifax is a good one to be with, because they can have a Save4It alongside it, which is one of the best kids' savings accounts. Might as well (try to) get them saving a little of their money!