Bank account for 15 year old son

MisterNick

My son,. is 15 an has a Nationwide Smart account with a Smart card and a separate passbook account
He also has a Halifax Save 4 It.

He wants a debit card and a few of his friends have Nat West debit cards.

Do you think he can do better than NW?

techno_geek

Try the Lloyds TSB Under-19s account - it offers a Visa Debit card, cheque book etc...
I can recommend it!!

MisterNick

techno_geek wrote: »

Try the Lloyds TSB Under-19s account - it offers a Visa Debit card, cheque book etc...
I can recommend it!!

Thanks Techno.
We have a Lloyds TSB and Nat West in town so we can pop down there later.
What sort of things should he be looking for, e.g interest rtaes etc.

tarajayne

Lloyds only give a cashcard to under 16's, it cannot be used in shops.

techno_geek

tarajayne wrote: »

Lloyds only give a cashcard to under 16's, it cannot be used in shops.

True, but he'll get a visa debit card as soon as he turns 16 - and the account pays more interest than Natwest.
He could open accounts at both banks, use his Natwest card for the time being, and then switch to Lloyds?

tarajayne

Always a good idea to have more than 1 anyway, and much easier to open at his age!

techno_geek

tarajayne wrote: »

Always a good idea to have more than 1 anyway, and much easier to open at his age!

Yep! I made sure I had accounts at most banks before I was 18 - I'm on the lookout for the best customer service, because when I graduate and start working I'll want to simplify my finances and stick with the bank that's done the most for me! At the moment, First Direct and Nationwide are looking like the favourites...

Kilty_2

BTW - Lloyds don't always automatically send out the debit card when you turn 16, I know several people who still have a cashpoint card.

I think some people need to ask for it.