Best Account for a 16 year old?

mpdpward

A quick question. My eldest will soon be sixteen and I'm looking for the best current account for him.

He has a part time job working some weekends but won't have a regular income until he leaves school and hopefully finds a job.

I've had a look around and the best looks to be an Alliance and Leicester account, which has no minimum monthly paying in requirements and pays around 3% interest.

Does anyone know of anything better?

Thanks in advance

Peter

Gordon_the_Moron

I'd have thought Nationwide, I know it only pays 4.25% if you pay in over £1000 per month but you can get round this by opening an E-savings account (4.75%), which you can access through online banking and make deposits/withdrawals to and from the current account instantly. Just keep what money you need in the current account and the rest in the E-saver.

You could even do that with most of the high street banks and get more than 3% (HSBC would be a non-starter though because they don't pay any interest for the whole month on the E-saver if you make a withdrawal)

Kilty_2

Nationwide FlexAccount if a debit card is not required (Free withdrawals abroad :D) or Lloyds TSB Under 19's Account 3.30% interest OK not the best but you get a Visa Debit card

Could accompany that with Yorkshire Building Society Internet Saver @ 5.10% for savings

mpdpward

Okay, thanks for the info. I'll check them out