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Bank account for under 16 year old
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Posts: 418 Forumite
I opened an account with Barclays for my son, I had banked with them for years and we had a local branch.
But they closed the branch shortly after, only send him statements every 3 mths, charge him tax on his interest and do do allow him Internet banking.
So I think it might be time to switch, he uses his card instore and online, I set up the account so he could learn to manage his own money.
Any ideas who offers an account where he can use online banking?
Also just rung telephone banking and they were not helpful
But they closed the branch shortly after, only send him statements every 3 mths, charge him tax on his interest and do do allow him Internet banking.
So I think it might be time to switch, he uses his card instore and online, I set up the account so he could learn to manage his own money.
Any ideas who offers an account where he can use online banking?
Also just rung telephone banking and they were not helpful
0
Comments
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123 mini http://www.santander.co.uk/uk/current-accounts/123-mini-accounts/123-mini-current-account
Lloyds under 19 http://www.lloydsbank.com/current-accounts/under-19s-account.asp
TSB under 19 http://www.tsb.co.uk/current-accounts/under-19s-bank-accounts/
Nationwide Flexone http://www.nationwide.co.uk/products/current-accounts/flexone/whats-flexone
Note that unless you fill in an R85, and unless it's an ISA, 20% tax will automatically be withheld by all banks for all interest.0 -
Interest overpaid on savings can be reclaimed.
https://www.gov.uk/government/publications/income-tax-claim-for-repayment-of-tax-deducted-from-savings-and-investments-r400 -
Halifax cardcash, 1.5% interest, online access and debit card.
You can apply online too.0
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