Children's Current Account

bscousegit

My 10 year old wants a current account - the youngest age that I can see you can open an account is 11, Barclays. Anybody know of a bank that allows a 10 year old to open an account?

virgin_moneysaver

AFAIK you can legally sign when you are 7 but this is on a savings a/c, a current a/c generally starts at around age 11 (secondary school)

mclaren_2

a current account is for 18+. You can get a visa electron card at 11 but for the current account (switch, visa debit, etc...) you have to be 18 or over, as they come with overdraft, and it is easy to go in to the red. For children, they are called " kids accounts" or have some fancy name like cash club or that.

http://www.rbs.co.uk/Personal_Finances/Students_&_Youth/default.htm

Cash Club is for 7 - 10 year olds, and when your son/daughter turns 11, (s)he can get the account upgraded to Route 15, which gives a normal ATM cashline card.

As far as i know, a current account automaticly holds a chip and pin ATM cashline card (visa debit, switch), cheque book, overdraft, and the possibility of going in to red which is easy, childrens account is just that, an account, on which, at the age of 16, can join R21 which also gives a cheque book, and at 18 can get highline card and overdraft (highline card is same level as visa debit, switch, etc.. with chip n pin, overdraft, etc..)

I hope this is of help to you. IMHO i would take the route of going cash club. On the other hand, if your child is nearly 11, i woudl wait, and then go for the route 15.

bscousegit

Many thanks for your replies. I've sent off for the info on Cash Club - has a cash card, which is what she wants!

grumbler

http://www.nationwide.co.uk/savings/rates.htm

Smart Account - instant access savings account for 0-17 year olds (cash card)