Young persons bank account

GAILEY

Hi,
I posted this in student moneysaving but had no replies and am now wondering if it is better fitted to here.
My daughter is a college student - not uni and not a 2 year course, but rather a series of 1 year courses


......Hi, I wonder if anyone can offer any advice on the matter of a bank account for my 18 year old daughter, who is currently working part time alongside a full time college diploma course.
She's living at home and is completing her second year of full time study, though it's not a 2 year course...she completes Yr1 then applies for the 2nd Yr course, then the 3rd and so on.
She still has her Barclays young persons account...which gives her a debit card but nothing else...she doesn't have an overdraft facility and no perks....its pretty crap really. The internet banking bit has never got off the ground and the system won't register her...so I think its time for her to make a change.
I have looked at the student accounts and they all seem to need proof of Uni place/ course at least 2 years.
I'd like her to get an account with at least a few perks (mobile phone ins would be good) and a small 0 % overdraft, although she won't be going overdrawn regularly as thusfar she has been quite frugal (although she has to run a car to get to and from college so from time to time she might need a helping hand).
Thanks in advance

colsten

She should stick to not needing an overdraft, and should instead look for an account that pays her interest when in credit. The TSB Plus might suit.

Any perks will come at a cost, such as a monthly charge. For mobile phone insurance, perhaps this might help: http://www.moneysavingexpert.com/insurance/cheap-mobile-phone-insurance

Dobbibill

If she is not doing a course that meets the criteria for a student account then she will be hard pushed to find a bank account with perks & a 0% overdraft.
She would be better to follow Colsten's advice and get an account to pay interest.
If it is only mobile phone ins she needs she may be able to get this cheaper as a standalone product than as part of any fees.
Due to her age she will also have very little credit history for banks to base their lending decision on to approve an OD facility. Only time will improve this.

DB

System

Each bank has it's own criteria for it's student account - she may be able to get one if her 1 year course is HNC level or above and is full time.

Otherwise, a TSB account would be amongst the best for in-credit interest either via Under 19s account or Plus account.

For emergencies, a credit card with modest limit of a £500 (or less) would do if she might need petrol for college.

jimjames

Nationwide just launched an account for young people, not sure if it would be suitable but worth checking their website

Archi_Bald

You need to be younger than 18 to apply for one of the Nationwide ones - same at most places.