Guide discussion: Cards for under-18s

bara03

Anyone recommend the best card to use abroad, one of my children is off to the USA soon and would like to if possible get them to use a card for the majority of their payments rather than taking a load of cash, anyone have experience of this?

eskbanker

bara03 wrote: »

Anyone recommend the best card to use abroad, one of my children is off to the USA soon and would like to if possible get them to use a card for the majority of their payments rather than taking a load of cash, anyone have experience of this?

Nationwide FlexOne account?

https://www.nationwide.co.uk/products/current-accounts/flexone/whats-flexone

Featuring one of the best fees documents ever seen....

https://www.nationwide.co.uk/-/media/MainSite/documents/products/current-accounts/flexone/Fee-information-document-flexone.pdf

Bleg

bara03 wrote: »

Anyone recommend the best card to use abroad, one of my children is off to the USA soon and would like to if possible get them to use a card for the majority of their payments rather than taking a load of cash, anyone have experience of this?

Monzo. I think this card is brilliant. You can use it in the USA and any left over can be used on return to UK.

JillyN

GoHenry is registered in Gibraltar so presumably not covered by the UK Financial Conduct Authority or Compensation scheme.  I haven't looked at any of the others.  Don't like the charges on children's money that's for sure.

Wesman

How to pay a monthly allowance to a teenage grandchild LIVING with parents IN SPAIN to minimise currency conversion costs?
Could any of the "Best buy cards overseas" allow him to withdraw controlled amounts in euros which I deposit in sterling? If so would he have a card on my account?

Moomin

I was checking my Revolut account yesterday and a banner popped up to promote their Junior accounts where children from Age 7 -  17 can have a prepaid card under your own account. From what I've read, it seems to work in pretty much the same way as the other prepaid cards for U18s. I don't pay any fees  for my account with Revolut and there is no fee to have the Junior account setup. You can only have 1 Junior account per standard account. If you have their Premium or Metal accounts, then I think you can have more than 1Junior account created. I did have to pay £4.99 delivery for the card but I will not have to pay any monthly or annual fee for the junior card account. 

jss1974

The article should include whether each card mentioned is contactless. I made the mistake of opening a NatWest Adapt account for my daughter but discovered the card is stuck in the 20th century. Not great when she’ll mostly be using it for quick drink/snack purchases and trying to steer clear of Covid-infested card machines.  The TSB website makes no mention of contactless, so I suspect it isn’t, those that are tend to mention it, I’ve now realised.

fejjie

Given that I don't have any need to go into a town and all our local bank branches are closed/closing, are there any bank accounts for 11 year olds that you can apply for online?
TIA

jvalentine

One of the best FREE OF CHARGE prepaid card providers is 'HyperJar' (www.hyperjar.com). It permits children to be added to the account with one parent having the primary control account. The cards run on the MasterCard payment scheme with the only drawback being that it does not permit ATM usage (thus reducing costs), but given that such usage is in decline and the purpose of these products is to educate children in card usage and money management, that may not be an issue for most, particularly when factoring in the zero cost of account maintenance. My two children enjoy the responsibility of maintaining their own cards and are learning valuable money management lessons. 

colsten

I asked almost 4 years ago why this thread is on the Savings & Investments board. There has been no answer, and I still can’t see why it is here.