Savings for 16 year old

Siobhan_2

Hi - can anyone recommend a bank account for a 16 year old.? He has about £12,000 and it will not be needed for at least two years. Many banks don't offer accounts to 16-17 year olds so I am at a loss about what he should do.
Many thanks,
Siobhan

atypical

Both the current top instant access savings accounts allow 16 year olds to open the account: Northern Rock and Santander.

Lokolo

Halifax fixed rates allow opening from 11.

http://www.halifax.co.uk/savings/accounts/longer-term/fixed-rate-websaver/

Fill in an R85 form if they aren't taxpayers.

kidmugsy

Put £5340 into a cash ISA - it'll be tax-free for as long as it stays in that shelter. If there's a branch handy, the Barclay's Golden ISA might be suitable