My eldest turns 11 today and wants a current account

Zero_Sum

FtbDreaming wrote: »

To be fair theres bigger mistakes in life than not changing banks and I still have time im only 32 and just learning this savvy business

We went to Barclays and he turned us away. I dont think he could be bothered. Got it all set up with Natwest within an hour. As you say she can switch when she's older but it'll be good for her to learn a bit of money management now. Also gives her an incentive to earn pocket money.

You dont need to change bank. I think the greater point is more about having a backup bank incase anything goes wrong at your main account. Or even utilising multiple accounts for various purposes.ive experienced quite a lot of different banks & personally think Nat West are one of the worst.

jay1804

I would say the 123 Mini Current Account by Santander, as it offers the best in credit interest for children's accounts.

Zero_Sum

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.

Most of us serial switchers use spare dummy accounts.
So far this year I've clicked £400 from "switching" but still have my 'main' bank account Ive had for the last 15 years.

jimjames

FtbDreaming wrote: »

Im taking her to open a bank account, thinking barclays simply because you get those personalised bank cards and she likes that.

Is there any better/ other bank that she should probably open? Im with Natwest which is the account I opened at 13. So today could be the decider with who she banks with forever really.

If you've never switched you're one of the lucky ones and can get any of the switching bonuses out there. You can at least start to rectify what you've missed out on up to now

jimjames

born_again wrote: »

It does if they use CASS

No it doesn't. Switch a different account and keep the one you like. I can't believe that people here seem to be so opposed to earning some money for very little effort but I guess that benefits those of us who do.

FtbDreaming

Wow lots of replies! As others have said she wont be switching in the next few years so thats not a worry. I also have a halifax account which I opened more recently and half my income goes in there so not all my eggs are in one basket so to speak but I'd still count natwest as my main account.

Opening the account for her has meant that she has her £140 birthday money in an account to spend as and when she wants something rather than what she usually does and goes to town and spends the whole lot in 1 go.

She goes to high school in september and will be getting the bus which takes card payments as well as doing things with her school friends which will be much safer giving her a bank card to use than bits of cash to lose.

And to be fair she's already thinking of ideas to make money such as putting her artwork on etsy... granted she's probably not gonna make much if anything but its an incentive to think outside the box. Surely that cant be classed as a bad thing.

JustAnotherSaver

mollycat wrote: »

Good advice!

Thank you very much

System

My son has been very happy with his Nationwide FlexOne account since he opened it three years ago.

One of his friends is very happy with her Barclays account - we suggested Nationwide but she really wanted the personalised card!!!!

Probably best choice between them (and indeed any other) is access to a branch, as paying birthday and Christmas money in isn't something that can be done with a current account if it involves cash.

crumpetman

A lot of banks accept cash deposit via the post office. Or you can use an ATM. No need to have access to a bank branch.

Flobberchops

FtbDreaming wrote: »

They didnt even offer us the chance to make an appointment. He asked who i banked with then said tbh natwest are better than us anyway you're best going there. I was surprised at how eagerly they turned a potential customer away to be honest.

Genuine facepalm moment from me. If that was my coworker I would have had to give them a kick under the desk - or even if we weren't sitting at a desk, for that matter. I think a Google Review could come in useful to alert that person's manager of their attitude. You don't brush off potential lifelong customers like that, goodness sake...