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Best current account for teenager, probably wont ever save?

FiFi_Mad_Mum
FiFi_Mad_Mum Posts: 855 Forumite
Part of the Furniture Combo Breaker
edited 13 August 2012 at 1:10PM in Budgeting & bank accounts
Son has been pestering me for a bank card and my brain is fried as they all talk about savings. He has a savings account at Dunfermline but they say interest is 0.75% http://www.dunfermline.com/savings/child-savings.aspx, we bank at Lloyds TSB and they say interest is 2.50% http://www.lloydstsb.com/current_accounts/under_19s_account.asp, I looked at Halifax and they talk about a headline rate of 1.51% http://www.money.co.uk/current-accounts/current-account-details/Halifax/Cardcash-Youth.htm. I am needing advice whether it matters for this sort of acccount or if anybody has information to help make a decision.

Thanks in advance, FiFi :)
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Comments

  • My son has had a childrens account with lloydstsb since he was 12. He manages the account well, and it's easy for him to use. Comes with a debit card, useful for Internet purchases etc. he never has much in it, so I don't worry about the interst rate!
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