Bank Account for 17 year old

socrates

I want to point my son in the direction of setting up a bank account - I will take the recommendation from here but get him to set it up - try and give him some responsibility - and a chance to learn some every day procedures.

Anyway - does anyone have some good recommendations - he will need a simple account I suppose with a chip and pin card.

Perhaps something with incentives or with a bonus for joining etc. I know some accounts offer £50 or so.

I would have referred him to First Direct but they only give accounts from 18 years old onwards.

Thanks in advance...

Baldur

The A&L Premier 21 may suit him

£50 cashback via quidco http://www.quidco.com/finance/alliance-leicester-current-accounts/ and offers 5% on balances up to £1,000 http://www.alliance-leicester.co.uk/current-accounts/premier-21-account.aspx?cm_mmc=mybank-_-ibh-_-listprem21

Lokolo

Erm very few young adult accounts with come with incentives.....

HSBC - http://www.hsbc.co.uk/1/2/personal/current-accounts/under-18s (Visa Debit Card, Online banking etc.)
Lloyds - http://www.lloydstsb.com/current_accounts/student_graduate_accounts.asp (same as HSBC)

I have both of these. HSBC are better imo because of their internet banking. I have never used telephone banking for either, thats just stupid.

Halifax also do one I heard but can't find on their site.

Natwest - http://www.natwest.com/personal/current-accounts/g1/young-people.ashx (Solo card, online banking at certain age, either 16 or 18)

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Although there is an incentive for A&L as Baldur has pointed out, there is a reason why they pay you money to join them.

willo65

http://www.natwest.com/microsites/personal/adapt/default.htm - doesn't come with cash incentive but you do get benefits including 2 for 1 cinema pass - have a look at the link.

Edit
Sorry just seen lokolo had also mentioned this account but this is a link to the Mini site for the acount so will leave the link

linni

My 16 yr old has just opened a FlexAccount with Nationwide and I was really impressed with the way they talked though everything with him and gave him advice.

gt94sss2

I suggest the HSBC account if you think that your son may eventually join First Direct, having a good banking relationship with HSBC can only help him being accepted - as First Direct is part of HSBC.

Regards
Sunil

socrates

Thanks guys

Nat West and Lloyds look good

Nice discounts on cinemas and driving lessons

socrates

gt94sss2 wrote: »

I suggest the HSBC account if you think that your son may eventually join First Direct, having a good banking relationship with HSBC can only help him being accepted - as First Direct is part of HSBC.

Regards
Sunil

I was thinking the same thing but am not 100% happy with HSBC lately - since most communications are with India I find myself going around in circles with them.

Innocent_Guy

HSBC is a good account. He will if he requests get a cheque book and cheque guarntee card if required.

mumps

I have found HSBC good for my kids.

Innocent_Guy

mumps wrote: »

I have found HSBC good for my kids.

Get brilliant online banking aswell.