First bank account for School Leaver

vwallis

Hi

Hope I've posted in the right place.

My 15 year old son has just finished school, and is starting college in September. He now needs to open a bank account. Although I've had a look around, I'm not really sure what I should be looking for - has anyone any advice, or know of a 'good one'?

Hope you don't mind me asking.

thanks - in advance

DrSyn

He might like to consider (a)Good customer service,(b) a free account (c) branches or ATMs near the near the college all.

1. As your son is just 15 years of age I would suggest a "Basic Bank Account" which is one which is supposed not to have any overdraft facility. If he learns to "live within his means"(i.e.keep out of debt) he can move on to a normal current account. Most if not all major banks have them.

2. The Co-op Bank always gets over 80% customer satisfation in the polls and is well liked by its customers. While it has few bank branches, it can be run via the Post Office Counters.

3. I suggest the Co-op Banks "Cash Minder" Account.

4. Look up on this site about Basic Bank Account.

www.moneysavingexpert.com/banking/basic-bank-accounts


5. An alternative could be a student account ,if he is able to get one at his age.
www.moneysavingexpert.com/banking/student-bank-account

TheEffect

To be honest, they all offer the same thing for people under 18, so just go with the bank that is closest to you or most easy to get to.
Barclays, Lloyds, NatWest, HSBC all do youth accounts.

CKhalvashi

vwallis wrote: »

Hope you don't mind me asking.

You've come for help, so help you shall have!

One that I can personally recommend is the NatWest Adapt account, which is specially designed for under-18s. It allows just about everything that's with a standard current account, bar the overdraft. My niece is with the same account now, which allows her to get her Saturday job money paid in and cash out when she needs it.

This is also backed by the NatWest Company Charter, which aims to have 9 of 10 people completely satisfied with the service. I use the Telephone and Internet banking and have never had a problem with them.

Best of luck to him :beer:

-Edit
Did I also mention the 24 hour customer service and actually being able to speak to someone in the UK? That's by far the best part of NatWest, as although he's probably not going to need to phone the bank to arrange a transfer at 3am, the service is always there! Saved my skin a few times when I've forgotten to do something the night before.

[Deleted User]

DrSyn wrote: »

He might like to consider (a)Good customer service,(b) a free account (c) branches or ATMs near the near the college all.

1. As your son is just 15 years of age I would suggest a "Basic Bank Account" which is one which is supposed not to have any overdraft facility. If he learns to "live within his means"(i.e.keep out of debt) he can move on to a normal current account. Most if not all major banks have them.

2. The Co-op Bank always gets over 80% customer satisfation in the polls and is well liked by its customers. While it has few bank branches, it can be run via the Post Office Counters.

3. I suggest the Co-op Banks "Cash Minder" Account.

4. Look up on this site about Basic Bank Account.

www.moneysavingexpert.com/banking/basic-bank-accounts


5. An alternative could be a student account ,if he is able to get one at his age.
www.moneysavingexpert.com/banking/student-bank-account

minimum age for cashminder is 18
accounts:

Lloyds TSB Under 19's account is recommended

vwallis

thank you all for your help and advice - much appreciated