HSBC & Young people.

xylophone

According to this article (2014) http://www.thisismoney.co.uk/money/saving/article-2830525/Many-big-high-street-banks-don-t-offer-tax-free-Junior-Isas.html


HSBC says it constantly reviews its product range - but three years on from the launch of Junior Isas, it still doesn’t have one.

As far as I can see from the HSBC web site, it doesn't offer one now either.

The Junior ISA first launched on 1 November 2011


but in your post 20 here a few days ago https://forums.moneysavingexpert.com/discussion/comment/71587196#Comment_71587196

you mention

but I can only tell you what we did for our 4 grandchildren about 9 years ago, after we inherited a small sum.

We set each one up with a Junior cash ISA

There does seem to be some confusion?

Perhaps he set up an adult ISA (which he would have been able to do at age 16) or perhaps a young person's bank account?

At my branch of HSBC it used to be possible to make an appointment with a customer service assistant to deal with matters relating to your account - I don't understand why you and he could not have done this four years ago?

bigadaj

I wonder what the 'stuffed shirt' thought of this encounter.

Rachel_MBA_Student

I find (and from asking friends), getting an appointment with a high street bank difficult and you have to wait weeks for an appointment - even if you want to join the bank. I think joining new challenger banks such as Atom better as you don't need to go in store for anything.

PeacefulWaters

Rachel_MBA_Student wrote: »

I find (and from asking friends), getting an appointment with a high street bank difficult and you have to wait weeks for an appointment - even if you want to join the bank. I think joining new challenger banks such as Atom better as you don't need to go in store for anything.

You don't need to visit a branch to open an account with most banks.

tacpot12

The fact no one else came into the branch dos indicate that there is little call for the branch.

Did you get an explanation as to why the bank hadn't followed your grandson's request? In my experience most big banks are quite efficient at basic stuff but struggle the unusual requests. If you ask them to convert an
Adult ISA into and Adult ISA they are going to look a bit blankly at you.

JuicyJesus

Robisere wrote: »

JuicyJesus: the account was set up from a Junior ISA, that we gave to each of our 4 grandchildren. He used it to begin an account at 16, when he was still a Minor. At 18, he began work full time and made repeated requests to obtain an appointment at the bank in order to change this. All requests were answered with "We will get back to you." They never did, hence my grandson's request for me to go with him to the bank.

Both of you have missed the salient fact that my grandson suffers from Aspergers Syndrome. If you know anything at all about that condition, you will be aware of the reason why I went to the bank with him. If you know nothing about it, I suggest you either look it up or learn not to question facts when you are not aware of them.

I have Asperger's syndrome, so I'm painfully aware of it, thank you. It was just not at all clear why you thought he had a child's account, because that could mean anything from "his debit card is the same colour as the one they give to children but the account itself is fine" or "he has a children's savings account".

It sounds like he does actually have a child's savings account, and what he needs to do is open an actual current account.

enthusiasticsaver

I think there is some confusion here too as to what type of account the grandson has and if a child account it cannot be simply changed over to an adult current account with a debit card etc. He would have had to go through the normal current account application which presumably he did today. It is not a question of HSBC not recognising him as an adult simply that the account he had previously was not an adult account. An isa is a savings account and current account totally different.

As far as I am aware there is no way of the bank staff knowing if he has a workplace pension from his statement so not sure what you are going on about there. His pension deductions would come from his salary direct so even if his salary goes into his old account it would not reveal his pension situation. It sounds like when he started work he should have opened a totally separate account and not carried on using the old one.