Best Bank Accounts for 11 and 13 Year Old

PlanetGanet

Hi,

I was hoping that you could help me. I have tried various searches on the internet but can't find a good comparison of youth accounts.

I have an 11 year old and 13 year old. They have both had Santander (previously Abbey/National) accounts since they were babies as this is where I bank. They are savings accounts and nothing had been paid in for a few years due to a change in my financial situation. On checking their accounts I discovered that Santander had closed my daughter's account approx four years ago and misplaced the money (approx £500). It took me several complaints in branch, in writing and by phone and many weeks to get this (and the missed interest) back from them. I am now keen to move their accounts.

Please can anybody recommend a good youth bank account? They would like debit cards but I would also like internet banking if poss ( to keep an eye on their accounts). Also, a good rate of interest if poss for their savings. My preference would be somewhere other than Santander unless they are offering something amazing.

Many thanks.

samwsmith1

I was with HSBC from around 10 - 18 (now with First Direct) and found them excellent. You get a cash card at 11 and a Visa Debit card at 13 so sounds like it fits your requirements.

It's called "My Account".
https://www.hsbc.co.uk/1/2/under18s

Plxply

I believe when I last looked HSBC was the only bank to offer internet banking and a debit card, the only other alternative was Natwest who didn't offer internet banking.

Although I was slightly interested on the legality of checking the accounts as you would need to login via their details rather than you having your own set. I don't see why you can't let them manage their own money as the debit card won't let them go overdrawn, it's better for them to make mistakes now then later in life when you won't be there to watch them.

[Deleted User]

The Barclays BarclayPlus account is also another good account for the under 18s

ses6jwg

Santander do offer a Youth Account for 11-15 year olds comes with visa debit card and pays 3% monthly on £500

BugsyBrowne

ses6jwg wrote: »

Santander do offer a Youth Account for 11-15 year olds comes with visa debit card and pays 3% monthly on £500

Wow didn't know paper Rounds pay that well.

Plxply

BugsyBrowne wrote: »

Wow didn't know paper Rounds pay that well.

I'm guessing that's savings rather than on a per month basis, I hope so anyway.

Gonzo33

Plxply wrote: »

Although I was slightly interested on the legality of checking the accounts as you would need to login via their details rather than you having your own set. I don't see why you can't let them manage their own money as the debit card won't let them go overdrawn, it's better for them to make mistakes now then later in life when you won't be there to watch them.

I thought that under the age of 16 a parent had to be at least third party to the account. Therefore legally entitled to check the account, or has that changed?

opinions4u

Gonzo33 wrote: »

I thought that under the age of 16 a parent had to be at least third party to the account. Therefore legally entitled to check the account, or has that changed?

It's never been the case legally.

Some providers have set things up that way. Others haven't.

PlanetGanet

Thanks ever so much everybody. Looks like Santander might not be a bad bet after all despite my recent issues with them.