Students "safe" bank account

50Twuncle

My niece is 16 and about to start college
She needs a "safe" bank account - one that she cannot go overdrawn on
They all apparently assume that all students want an overdraft facility of up to £2000 - which her parents don't
Alternatively - do any banks/building societies have "adult" accounts that do NOT allow overdrafts under any conditions ?
Any suggestions ?

rb10

The accounts with large overdrafts are 'student' accounts. She won't be able to get one of these, as they are only for university students.

She would need to get a young persons' bank account. Look at different banks' offerings for this (Lloyds TSB is good until she turns 19).

Some bank accounts are half-way towards what you are looking for (e.g. those with a Visa Electron card rather than Visa Debit). Or with Nationwide accounts you can set your 'Reserve limit' to zero, which should prevent the account from going overdrawn.

But no bank can guarantee that it won't let her go overdrawn ... she needs to take a bit of personal responsibility and learn that she can only spend money when she has it in the bank.

It's worth opening a separate savings account at the same time, and ensuring she regularly puts money into this.

50Twuncle

rb10 wrote: »

The accounts with large overdrafts are 'student' accounts. She won't be able to get one of these, as they are only for university students.

She would need to get a young persons' bank account. Look at different banks' offerings for this (Lloyds TSB is good until she turns 19).

Some bank accounts are half-way towards what you are looking for (e.g. those with a Visa Electron card rather than Visa Debit). Or with Nationwide accounts you can set your 'Reserve limit' to zero, which should prevent the account from going overdrawn.

But no bank can guarantee that it won't let her go overdrawn ... she needs to take a bit of personal responsibility and learn that she can only spend money when she has it in the bank.

It's worth opening a separate savings account at the same time, and ensuring she regularly puts money into this.

Thanks for the advice - I have passed it on to her Mum !!