Savings Account for 17 year old?

*Smurfette*

Hello, I've had a read of the articles on this site but all the savings accounts e.g. ICICI, Icesave, etc. are for those 18+.

I'm 17 (not 18 for another 11 months ) so was wondering what accounts I can apply for which have a good interest rate?

I'm steering away from an ISA until next year as I may need to use the savings this year but I will use the ISA allowance by around Feb/March if I haven't needed to use/access the money.

If anyone can suggest instant/easy access accounts for saving I'd be very grateful. I've spent a looooong time looking through accounts and they're all for 18 year olds or older

Thank you!!

Smurfette

Lokolo

Hey!

I am a year older than you but I started saving last year.

Ok I used Egg. They're a bit lame setting up, obviously because they are an internet company but I have found them to be more than decent. Customer service is excellant and instant access savings @ the Base Rate (currently 5.75%).

http://new.egg.com/visitor/0,,3_11093--View_401,00.html

To set it up you will need proof of identity, cannot remember what I used but they also require proof of address, just photocopy a bank statement.

If you need any other information about them just message me

p.s. as soon as you can, set up an ISA, it means that when you have a big proper job, you don't pay tax. With Egg you can declare that you do not pay tax and they are very trustworthy, obviously if you do pay tax and you don't declare this to them, and the government finds out, you're royally ******

TomsMom

Hi Smurfette

Take a look at this thread http://forums.moneysavingexpert.com/showthread.html?t=540972
started by a young man recently who's just a bit younger than you. Lots of info in there and I put a few suggestions in post #2.

Hope that helps.

gt94sss2

The Nationwide Smart account pays 6.04% for under 18s.

The HSBC Online Saver pays 6.3% and is available at 16+ - however you get no interest in any month where you make a withdrawal.

Alliance and Leicester also offer what seems like a reasonable current account for 16+ but I haven't read their small print.

Regards
Sunil

*Smurfette*

Thanks for the replies I actually have a Nationwide Smart account but I had a letter saying it had to be converted, didn't realise that wasn't for another year!

I also want an account with a debit card, Nationwide only gave me a cash card. Maybe HSBC would be better as I'd get their solo debit card and also the online saver.

Could someone check they definitely issue a debit card? I thought I'd get one with the Nationwide Flexaccount, they told me to apply and keep fingers crossed but I wasn't lucky. Don't want to make the same mistake and have two dud current accounts Thanks!!

gt94sss2

*Smurfette* wrote: »

I also want an account with a debit card, Nationwide only gave me a cash card. Maybe HSBC would be better as I'd get their solo debit card and also the online saver.

Could someone check they definitely issue a debit card?

This page states that they give you a debit card if you are 13+ and is the account I imagine you want.

Their 'normal' current account doesn't seem to be available to under 18's.

Whatever account you open, don't forget to register for gross interest..

Regards
Sunil

PBA

Abbey would let you have eSaver paying 5.9% (inc bonus for 1st year) and it could be linked to their 16-18 current account with Electron card paying 1.5%. Not as good as HSBC e-saver, but no restrictions on withdrawals.

Edit: Northern Rock Tracker Online pays 6.31%, open to 16+