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Teenage bank accounts
mum-on-a-mission
Posts: 1 Newbie
I am new here but my son is 15 (16 in 4 months) and am unhappy with his natwest adapt account. I have looked at other banks and they offer higher interest rates - can he use the switching service as us adults do and change or would he be better waiting until he is 16 and can he open an 'adult' account then ? He mainly uses the account for paying in cheques for birthday etc but when he gets a job he wants to have wages paid in.
Thank you
Thank you
0
Comments
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He wouldn't be able to use the switching service.
My daughter is 14, she has 2 kids current account... Natwest and Santander, to be honest interest on any accounts are low now, even savings accounts.
There's nothing stopping him having more than 1 account, nationwide seem to offer a gd deal on the kids flax account xxx rip dad... we had our ups and downs but we’re always be family xx0 -
Does he have a Junior ISA? If he wants to save any of his cash for university say it may be worth consideration.
https://www.coventrybuildingsociety.co.uk/consumer/product/savings/children/junior-cash-isa.html
Other bank accounts
https://www.theguardian.com/money/2016/nov/26/best-bank-accounts-teenagers0
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