Can you do better

andlay

Student account that pays interestMy son is now 17, he will be continuing education for the next few years. I am looking for the best account for him. He needs easy access, cheque book, no overdraft facility, no minimum saving amounts and the facility to complete the exeption to tax form. I have found Clydesale Bank Student account paying 3.56% monthly and Lloyds Under 19's account paying 3.56% quarterly. Does anyone know of any others?

grumbler

This question is for 'Budgeting & Current Accounts' board. Or just search it for 'student'. However, I think there is no need to look for current account with good interest rate as you can always keep most of the money on some instant access online saving account with higher interest rate.

Just out of curiosity - why 'no overdraft facility'? To be charged heavily for being overdrawn accidentally?

andlay

Sorry I posted this on the wrong site.
The reason an instant action on-line savings is of no help is that he is only 17yrs old, most require 18yrs to open. It is an account fed by my parents to cover my sons education costs. It rarely has more than £500 in it and has to have cheque book to allow me to cover the school bills. We never go overdrawn because it is fed as necessary. As he is a student he should not pay tax.

lipidicman

Confusion because, to most people, 'student' means 'university student'. At school children are 'pupils' not 'students'

Oh and students/pupils/everyone pays tax. The only reason they might not is if they do not exceed their personal allowance. This is a common misconception about students