Instant access account for 16 year old?

mrs_scrooge

My daughter needs a new savings account now she is 16 as her 'kids rate' has come to an end.

I notice that some of these high paying accounts are only open to 18s and over. Has anyone found a good rate for a 16 year old or a comparison site which takes account of age?

She'll have around £1500/£2000 in it and is also opening a current account so it could be an online savings account.

Thanks!

TomsMom

This recent thread might help

http://forums.moneysavingexpert.com/showthread.html?t=540972

gt94sss2

mrs_scrooge wrote: »

My daughter needs a new savings account now she is 16 as her 'kids rate' has come to an end.

I notice that some of these high paying accounts are only open to 18s and over. Has anyone found a good rate for a 16 year old or a comparison site which takes account of age?

I would suggest HSBC and/or Nationwide myself

Your daughter should still qualify for the 'under 18' accounts at these two institutions (which tend to give higher interest rates)

Alternatively at 16+, one can also open Cash ISA's

Regards
Sunil