Bank accounts for 17 year olds

libbyb

My son is 17 years old and in 6th form. He has recently got a job earning £150 a month. Is there a suitable bank account out there for him. He would eventually like to go to Uni and possibly do some traveling. Thanks for any help.

Jazzy_B

My daughter has two. Santander have a youth account which gives 3% up to £500. You have to make a deposit every month, so I transfer £1 to her. She also has a Lloyds/TSB one which pays 2.5% on balances up to £2500. Both have debit cards and instant access. There may be better out there,but she wanted a local branch. She's now at uni, and won't be 18 until February, so she can't get any credit or overdraft facilities until she turns 18. Some student accounts can be opened at 17 if you have a university acceptance, but there's no benefit to her to switch now

jimjames

Natwest do an account available from age 11 with debit/cash card. Both my kids got them just after their 11th birthdays and get all their pocket money paid in there.

Other banks do similar but Natwest was more convenient for us location wise