Bank account for a 16 year old

DevilsAdvocate1

My son is about to start 6th form. I want to open a bank account for him so that I can transfer his bus money and dinner money into it so he can withdraw it as needed.

I've had my bank account for years so not sure what bank I should try for him. I bank with First Direct, but I think he likes the idea of visiting a branch to open the account.

Please help. Thanks.

colsten

Not sure First Direct do a youth current account, and if they do, it would not be one I would my son want to have as FD don't pay any interest on current accounts. I would want my son to understand the value of saving money, and to shop around for the best offer.

Here are two I like the look of:

http://www.santander.co.uk/uk/current-accounts/123-mini-accounts/123-mini-current-account

http://www.tsb.co.uk/current-accounts/under-19s-bank-accounts/

alextexmex

Co-Op bank do their standard current account (without overdraft) for 16 and 17yr olds, my nephew and niece have them so may be worth a shot

butterflymum

The 123 Mini is a great current account to use for introducing children to branch and/or internet banking and to help teach them the skills needed in managing their own money, plus it pays interest on balances of at least £100. Your 16yr old can choose to have either a 'cash card' or 'debit card', and open the account in branch if he doesn't want to open it online.

Obviously_the_best

The Loyds Bank U19 account offers a lot. 2.5% in credit interest, a contactless debit card, discounts on driving lessons when your son reaches 17, and plenty of branches everywhere.

And he can open it himself, so you don't have to spend a morning going in with him.

pmduk

Why not get him to do the research himself? It's a useful practice of research skills which will be good for the future.