Whats the best Bank account for my 17 yr old Daughter?

Bluebelle72

Hi there, my daughter is 17 and in her second year at performing arts college, she needs a bank account to enable her ema to be paid in, which is the best bank for this? Thanks in advance for your help.

PROLIANT

My suggestion would NatWest or RBS.
They provide great products for students and she can expect half decent banking facilities including a Visa debit card. The online service is very good too, the only drawback of the service is the need to have a card reader in order to complete transfers online, however this does not cause me any inconvenience at all.

Bluebelle72

PROLIANT wrote: »

the only drawback of the service is the need to have a card reader in order to complete transfers online.

sorry to seem a little naive but whats a card reader? thank you for the prompt reply btw. :beer:

PROLIANT

Bluebelle72 wrote: »

sorry to seem a little naive but whats a card reader? thank you for the prompt reply btw. :beer:

No problem, a card reader looks a bit like a slim line calculator, you put your card in and it generates a random pin to use online for inter-bank transfers and setting up standing orders etc.

See below:

Bluebelle72

also doesn't she have to be 18 to be classed as a "student" with Natwest?

PROLIANT

Bluebelle72 wrote: »

also doesn't she have to be 18 to be classed as a "student" with Natwest?

Not 100% sure on that, as far as I am aware a student is a student?
You can clarify this by visiting http://www.natwest.com/personal/students.ashx
Either way she can open an account then upgrade it next year.

Edit:
http://www.natwest.com/personal/current-accounts/g1/young-people.ashx

blueberrypie

Bluebelle72 wrote: »

sorry to seem a little naive but whats a card reader? thank you for the prompt reply btw. :beer:

A card reader is a small device that looks a bit like a simple calculator. When you use an on-line banking service that requires a card reader, you have to put your bank card into a slot in the reader (just as you do in a shop's payment machine) and enter your PIN. The card reader then produces a security code which you put into the on-line banking website.

Advantages: some people believe they offer increased security. Many people disagree.

Disadvantages: inconvenience. You have to have the card-reader with you anytime you want to access your account on-line. Some banks only require it for transfers, with others you can't even log in. If you lose it, you have no on-line access until you get a replacement.

I strongly dislike them and won't have my main accounts with any bank that requires them.

PROLIANT

blueberrypie wrote: »

A card reader is a small device that looks a bit like a simple calculator. When you use an on-line banking service that requires a card reader, you have to put your bank card into a slot in the reader (just as you do in a shop's payment machine) and enter your PIN. The card reader then produces a security code which you put into the on-line banking website.

Advantages: some people believe they offer increased security. Many people disagree.

Disadvantages: inconvenience. You have to have the card-reader with you anytime you want to access your account on-line. Some banks only require it for transfers, with others you can't even log in. If you lose it, you have no on-line access until you get a replacement.

I strongly dislike them and won't have my main accounts with any bank that requires them.

The NatWest account only requires the card reader for transfers etc.

MrTomato

It'll be a Natwest Adapt/RBS Revolve. Not a student account. The student account is only if you're in higher ed. not further ed.

book12

LTSB Under 19's account: http://www.lloydstsb.com/current_accounts/under_19s_account.asp

will-in-estoril

Bluebelle72 wrote: »

Hi there, my daughter is 17 and in her second year at performing arts college, she needs a bank account to enable her ema to be paid in, which is the best bank for this? Thanks in advance for your help.

The Bank of Mum has no daily cash withdrawal limit, comes with an interest-free overdraft which can be automatically converted into a perpetual loan at 0% APR and requires no signature to open.

For a limited period, roughly till an applicant's 21st birthday or so, every account opener gets a free set of car keys and the number of a local taxi firm remarkably similar to their home phone telephone.

There are no complicated forms to fill in and acceptance is guaranteed immediately.