account for a teenager

minimad_3

My 15 yr old daughter starts her 1st part-time job this week and needs to open a suitable bank (or building society?) account for her money to be paid in. It will be in the region of £50 - £100 each month. She wants a cash card too. I can only find comparisons and reviews for young children's savers accounts and 16 or 18 yr old students. Can anyone recommend a suitable account please?

regularsaver1

Halifax do an account for 11-17 year olds with a card. It has visa electron symbol too

EDIT - its called Expresscash for 11 to 15 year olds, and Cardcash for 16 and 17 year olds

http://www.halifax.co.uk/bankaccounts/expresscash.asp

X_*steph*_X

Nationwide also offer a good young persons account also so do Lloyds tsb!

X_*steph*_X

Nationwide also offer a good young persons account also so do Lloyds tsb!

BruceyBonus

HSBC do a "LiveCash" account. Comes with a debit card or cash card (it's up to you which one you want). It's ages 11-16 (13-16 for the debit card). As it's a current account the interest isn't too good.

For interest, I'd suggest opening a Nationwide Smart Account. Gives a cash card or passbook.

TBH, I'd suggest getting her both of the two accounts mentioned above. Have her wages paid into the HSBC account and then allow her to tranfer money to her savings account. It's good to start learning how to save at a young age - and being given control of how much she spends (i.e. leaves in current account) and pays into the savings account is a good way to start!

Kilty_2

Go for Lloyds TSB Under 19's account, since when she's 16 she will be sent a Visa Debit card, no other bank will provide this to people under 18.

Failing that, Halifax Expresscash is fine and she could open a Web Saver for savings when she is 16.

BruceyBonus

Kilty wrote:

Go for Lloyds TSB Under 19's account, since when she's 16 she will be sent a Visa Debit card, no other bank will provide this to people under 18.

It's only a Visa Electron card - which you can get from Halifax, Barclays - almost anywhere!

s1h

Nationwide Smart Card is the best under 18's account about, great interest rate too.

Kilty_2

BruceyBonus wrote:

It's only a Visa Electron card - which you can get from Halifax, Barclays - almost anywhere!

No, it's not.

techno_geek

Kilty's right - it's a full Visa debit card (albeit without the cheque guarantee function!)

BruceyBonus

techno_geek wrote:

Kilty's right - it's a full Visa debit card (albeit without the cheque guarantee function!)

Really? The lady in Lloyds told me that it's just an Electron card. I'll have to enquire again about this account. Do you get a cheque book?