Best bank account for 14 year old, accessible from the post office

crystaltips_68

Hi, i want to open a bank account for my 14 year old daughter, that will continue into adulthood, that is accessible through the post office as that is near to where we live. The bank is a bus side away. She will need to be able to pay in and withdraw funds. I would like no fees if possible. Anyone have any ideas as to which would be the best??
:beer:

MrTomato

Co-op
http://www.co-operativebank.co.uk/servlet/Satellite/1225440233687,CFSweb/Page/Bank-CurrentAccounts?WT.svl=copy

All Co-op accounts can be accessed at the Post Office. Also, you might want to check Barclays, Lloyds TSB and Clydesdale Bank. These four banks (incl. Co-op) can both withdraw and deposit at the Post Office. Most other major banks let you deposit there also, just not withdraw.

Here's the info. about that http://www.postoffice.co.uk/portal/po/content1?catId=19400181&mediaId=19700174 (Note I excluded A&L in my list of 4 because I don't know if now being Santander will change that because as you can see, normally you can only deposit into a Santander account)

LTSB Under 19 account: http://www.lloydstsb.com/current_accounts/under_19s_account.asp
BarclayPlus: http://www.barclays.co.uk/Currentaccounts/Otheraccounts/ChildrensbankaccountBarclayPlus/P1242557963840

crystaltips_68

Thanks Mr Tomato, thats a great help. )

crystaltips_68

The links dont work for me

Out of coop, lloyds and Barclays, which would generally be the best?

MrTomato

My personal preference would be Co-op > Lloyds > Barclays. Purely because I prefer Co-op's customer service, but Lloyds have always been good with me, and I've been with them since I was about 14.

But it depends on what you want for your daughter. Do you want her to have a debit card? If yes, then Lloyds or Barclays, if not, then Co-op (although the other 2 also offer a cash card only option). Do you want a decent interest rate on it? Lloyds give the best rate at 2.5% whereas the others are about 0.5%.

You need to go to the branch to open them because they're for kids though, or phone up, so choose whatever is most convenient for the initial opening then use the Post Office

crystaltips_68

Yes, i think eventually she will want a debit card, and the interest on the lloyds one sounds good, so Lloyds it is i think! Thanks!

9217niall

The LTSB under 19 account is poor IMO, only give you a cashpoint card and can't upgrade but it depends on needs. Switched to HSBC as I can have debit card and online banking too.

MrTomato

9217niall wrote: »

The LTSB under 19 account is poor IMO, only give you a cashpoint card and can't upgrade but it depends on needs. Switched to HSBC as I can have debit card and online banking too.

you can get a debit card with it. And you can't use your HSBC account for withdrawing at the Post Office so that is, frankly, a pointless suggestion.

preable

My choice would be co-op or barclays

9217niall

MrTomato wrote: »

you can get a debit card with it. And you can't use your HSBC account for withdrawing at the Post Office so that is, frankly, a pointless suggestion.

My post wasn't suggesting HSBC, it was just what I chose to do as LTSB customer service was poor, in my opinion.

I asked them the other week and they said I can't have a debit card, I have to stay with the Cashpoint card?

JacksterD

9217niall wrote: »

The LTSB under 19 account is poor IMO, only give you a cashpoint card and can't upgrade but it depends on needs. Switched to HSBC as I can have debit card and online banking too.

I opened a LTSB Under 19s account when I was 16 and they gave me both a debit card and access to online banking.