Child/Teenager bank account

PaulJM

Hi,
I can't find a new thread on this, so apologies if I'm asking an oft asked question.

I want my son to have a 'proper' bank account now - one he can have a cash card and maybe use as a debit card for use in shops.

I don't want him to be able to overdraw, and would like to be able to pay in a weekly allowance, etc.

He's 14, and pretty sensible. I don't want to have to pay for this.

What are the best ones? I don't expect there will be much in there, tbh, so interest isn't really anything I've thought worth considering.

flashg67

Both my teens have a Barclays account - gives them either a cash machine only card, or a debit card for use in shops, but doesn't allow overdrafts - though there is a thread somewhere that describes how this could in theory happen (due a delayed payment), but I don't think this will be unique to Barclays.

Both of mine like the 'grown-upness' of having a debit card and it also teaches them to look after their money and budget a bit.

PaulJM

flashg67 wrote: »

but doesn't allow overdrafts - though there is a thread somewhere that describes how this could in theory happen (due a delayed payment), but I don't think this will be unique to Barclays.

bit.

Thanks, I saw that, they seem good - although I have to go to the branch to do it - I think that seems standard to kids accounts - it's just a pain to get into town!

I think a small over-draw would be a good lesson, tbh

xylophone

http://www.money.co.uk/current-accounts/bank-accounts-for-teenagers.htm
might have what you want?

lmp0507

The halifax one is very good, all the functions of an ordinary bank account but no cheque book or overdraft facility.

PaulJM

xylophone wrote: »

http://www.money.co.uk/current-accounts/bank-accounts-for-teenagers.htm
might have what you want?

Saw it, thanks. Seems to be concealed Nationwide advert!

samwsmith1

I had a HSBC account from when I was 10 I think until I turned 19 last year (moved to FD) and found them excellent, they also allow under 16s internet banking which I don't think other banks allow.
http://www.hsbc.co.uk/1/2/under18s

System

samwsmith1 wrote: »

I had a HSBC account from when I was 10 I think until I turned 19 last year (moved to FD) and found them excellent, they also allow under 16s internet banking which I don't think other banks allow.
http://www.hsbc.co.uk/1/2/under18s[/QUOTE


Im about to move my teen from RBS to hsbc , i like the fact she can use the online service and she isnt going to be a santander customer when RBS is sold.

samwsmith1

CHRISSYG wrote: »

samwsmith1 wrote: »

I had a HSBC account from when I was 10 I think until I turned 19 last year (moved to FD) and found them excellent, they also allow under 16s internet banking which I don't think other banks allow.
http://www.hsbc.co.uk/1/2/under18s

Im about to move my teen from RBS to hsbc , i like the fact she can use the online service and she isnt going to be a santander customer when RBS is sold.

Glad to hear it , I'm amazed no other banks will give access to online banking!

xylophone

PaulJM wrote: »

Saw it, thanks. Seems to be concealed Nationwide advert!

Plenty of other details there though, at the click of a mouse as they say.....?

blueberrypie

samwsmith1 wrote: »

Glad to hear it , I'm amazed no other banks will give access to online banking!

They do. Halifax does, for example (and I assume LTSB too).