Bank Account Recommendations for a 16yr old

AdeM_2 · 1 November 2009 at 9:59AM

Morning All,

I'm looking for current account recommendations for my 16yr old as she has just started a saturday job and needs to have her wages paid into an account, would be handy to have a debit card and maybe a linked savings account (although that's not necessary).
Thanks for your input.

opinions4u · 1 November 2009 at 10:05AM

AdeM wrote: »

Morning All,

I'm looking for current account recommendations for my 16yr old as she has just started a saturday job and needs to have her wages paid into an account, would be handy to have a debit card and maybe a linked savings account (although that's not necessary).
Thanks for your input.

Halifax Cardcash pays 1.51% AER and provides the debit card facility.

Abbey have a 3% account (subject to having less than £500 in and funding it with £50 a month) but a shocking serivce reputation.

LloydsTSB have a 2.5% account for under 19s.

book12 · 1 November 2009 at 11:02AM

Go for the LTSB Under 19's account. You will get a VISA debit card (which is more acceptable in all places), unlike the other accounts mentioned above, who offer Electron cards.

If you want good customer service, avoid Abbey as mentioned above. There's not a big difference in terms of interest rates between LTSB and Abbey anyway.

That bank offers higher interest rates on most savings account than the others mentioned above.

bingy_burge · 1 November 2009 at 11:59AM

the only risk with giving a 16 yr old visa debit card is as another parent on here found that when they turn 17 and start driving if they are a bit silly they can run up debts using their card in pay and pump where as with haliax acc they get visa elec which doesnt allow you to pump money you dont have.