Any Recommendations for Bank Account for my 16yo son?

oompahloompah

Hi everyone
At the moment my son only has a savings bank account, which he has had since he was a baby.

However he should be entitled to the Education Maintenance Allowance when he returns to school, and so that the money is payable directly to him (to encourage him to do well!) rather than it going into the family current account, I would like him to have his own account. He is also planning to go to University in a couple of years so will make use of it then too.

No overdraft facility required, but a card for withdrawing cash would be useful so he doesn't always have to visit the branch. We have various banks close by - does anyone have any recommendations or (probably more important!) comments on which ones to avoid?

Thanks

BruceyBonus

I've been with HSBC since I was 14. Been very happy with their service. The account doesn't really offer any "freebies" or "incentives" but it comes with a debit card, cheque book on request and internet banking (HSBC probably have one of the best internet bankings).

book12

Out of the banks you listed, Lloyds TSB would be a good one, as it has the highest interest rates compared to the others.

rb10

As the OP is in Scotland, I'm not sure entirely how it works ... your Lloyds TSB will be 'Lloyds TSB Scotland'? And all these branches and accounts will become Bank of Scotland ones in the next couple of years, because of the HBOS/Lloyds merger. So I don't know how that'll work for LTSB Scotland customers.

If internet banking is important, the general opinion on here is that BOS and HSBC have the best online banking.

97trophy

HSBC online banking is superb.

Abbey customer service is terrible and online is not that good either.

oompahloompah

Thanks so much everyone!