First bank account ..

Tixy

samwsmith1 wrote: »

HSBC provides all of those things, or at least they did for me.
I had a DD on my account at 13 I think, I thought all current accounts provided DDs & SOs on all accounts!

You'd think so - but not all - eg natwest adapt account (their teen account) doesn't. Its basically useless and allows very little (except for personalising your debit card picture which presumably most people would think was pointless).

When I was that age (some time ago now!) I had an hsbc account and it did all those things back then as well. In fact I've stuck with them ever since.

Blobby8_2

samwsmith1 wrote: »

But you have to be 18 for an FD account, otherwise I would have recommended them straight away.

Probs why I said go with someone else first ? Plan ahead.
I've tried most of the banks and you wont prise me away from FD easily.

MoneySaverLog

Well if he opened a Halifax Reward Current Account and a Web Saver Account he could transfer his wages into his savings account and back to his reward account. Assuming he gets paid at least £500 that will add up to the £1,000 credit needed and he will get himself an extra £5 a month for a couple of minutes work. Or do it all on autopilot using standing orders.

samwsmith1

MoneySaverLog wrote: »

Well if he opened a Halifax Reward Current Account and a Web Saver Account he could transfer his wages into his savings account and back to his reward account. Assuming he gets paid at least £500 that will add up to the £1,000 credit needed and he will get himself an extra £5 a month for a couple of minutes work. Or do it all on autopilot using standing orders.

I thought you had to be 18 to open a reward account?

MoneySaverLog

Not that I am aware of, I might be wrong though.

I suspect that the only reason you have to be 18 is if you want a overdraft, but you can tell them you don't want an overdraft facility I would have thought it would be ok.

MoneySaverLog

Just read the T&C's you do have to be over 18 :-( You can but ask though, especially as you are not looking for any credit facilities on the account.

izools

samwsmith1 wrote: »

I didn't realise under 18s could get a basic account, but the part of izools post I've highlighted below is the reason I recommended the HSBC MyAccount.

HSBC accounts get automatically upgraded at 18, I speak from experience last year.

Yes, exactly, the "My Account" will. Something like a LTSB or Barclays "Cash Card" account, won't.

And if he gets a My Account with HSBC it's an easier upgrade path to First Direct later as there's a clear accoun history within the organsation for them to rate him on

murf

Thank you all..
He has signed up for the hsbc account ..
Even easier than i thought ..

samwsmith1

murf wrote: »

Thank you all..
He has signed up for the hsbc account ..
Even easier than i thought ..

Good to here it .