My eldest turns 11 today and wants a current account

born_again

!!! wrote: »

More than likely becuase the rep has targets to meet for sign-ups (current accounts, loans, credit cards etc.) that they don't want to waste an hours time on a child account opening?

It called "Understanding Customer Needs" Now.... FCA does not like the word "Target" or "Sales" :rotfl:

Still the same to front line staff.

born_again

!!! wrote: »

Why would it be the one used forever?

Whilst there's switching bonuses and the like going, one should not remain with one bank

Surprising but true fact.

Some people are actually happy with the bank they are with and do not need to be bribed to move

Takmon

born_again wrote: »

Surprising but true fact.

Some people are actually happy with the bank they are with and do not need to be bribed to move

Being happy with a bank is not a good reason to turn down money for very little work.

Robisere

born_again wrote: »

Surprising but true fact.

Some people are actually happy with the bank they are with and do not need to be bribed to move

We are quite happy with our bank and intend to stay with the friendly branch which grants appointments for adjustments or financial changes. We only left Nationwide 2 years ago because they closed our local branch and stopped the 5% interest. We view customer service as a higher priority than switching to make a few quid.

born_again

Takmon wrote: »

Being happy with a bank is not a good reason to turn down money for very little work.

It is to many people who would rather have a good customer service that a hundred quid in their account and no end of trouble with the new bank.

One reason that many people do not switch.

Takmon

Robisere wrote: »

We are quite happy with our bank and intend to stay with the friendly branch which grants appointments for adjustments or financial changes. We only left Nationwide 2 years ago because they closed our local branch and stopped the 5% interest. We view customer service as a higher priority than switching to make a few quid.

You don't need to close any account you don't want to and can switch other accounts to get the money. It's always a good idea to have at least 1 account with another bank just in case of issues. .

But why would you want to waste precious time making appointments and visiting the branch when everything can be done remotely these days, don't you have better things to do with your life?

born_again wrote: »

It is to many people who would rather have a good customer service that a hundred quid in their account and no end of trouble with the new bank.

One reason that many people do not switch.

I've switched many account to get many switching bonuses yet i still have accounts with all the main banks. Switching to get the money doesn't mean you have to close an account you want to keep.

born_again

Takmon wrote: »

YSwitching to get the money doesn't mean you have to close an account you want to keep.

It does if they use CASS

IvanDP

I think some people have missed the point here a little bit.

The OP asked about opening an account for an 11 year old

While getting the youngster used to the world of banking is a good idea, all this talk of switching, etc. is pretty much irrelevant, as they wouldn't be eligible for at least the next 7 years :rotfl:

Ben8282

Yes. What does an 11 year old need a current account, mobile app and debit card for?
When I was 11 I had a passbook account with the Trustee Savings Bank and certainly had no unsupervised access to it.

Takmon

born_again wrote: »

It does if they use CASS

Well you obviously don't switch an account you want to keep. I've done it plenty of times and always used accounts I've recently opened just for the purpose of switching.

Ben8282 wrote: »

Yes. What does an 11 year old need a current account, mobile app and debit card for?
When I was 11 I had a passbook account with the Trustee Savings Bank and certainly had no unsupervised access to it.

Good financial habits formed from a young age are definitely a positive thing. I don't see why an 11 year old shouldn't have a bank account and mobile phone. We live in the 21st century where cash is no longer king and understanding technology is key to having a successful life.