Bank account for special needs

AlisonGleave72

My son has just turned 18.  I am looking to open him a current account.  He has special needs and needs a lot of support with his finance.  I need an account that we both have access to.  He is currently in full time education and will probably stay in education for several years.  Due to his needs and health issues he is unlikely to have a salary for a number of years.  Can anyone recommend a suitable bank account please?  Thank you.

molerat

I don't think there are any bank accounts specifically for this scenario.  Do you have POA ?  What do you need to achieve - just support or the ability to prevent him going mad with the money ? Any joint account would allow you full access.

Maybe not specific to your situation but in the general area https://www.downs-syndrome.org.uk/for-families-and-carers/adulthood/banking-managing-money-and-mental-capacity/

pinkdalek

Does he receive benefits?  You can obtain appointeeship via the DWP, they will issue you with a BF57 form, you are able to open a bank account for the purpose of his benefits. 
Has your son got mental capacity as obtaining a POA could be another option as this would allow you more control and flexibility eg internet banking/opening other accounts for him.

xylophone

I need an account that we both have access to.  

Which seems to indicate that he does have the capacity to use a bank account (ATM card etc)?

Perhaps third party access would be enough?

https://www.barclays.co.uk/power-of-attorney/

coachman12

Google  UTMA/UGMA accounts and discuss with your Bank. The UTMA arrangement classes "children" as under 21, so your son would meet that criterion.
But, depending on your intentions for the account , any Joint Account can be opened-----it doesn't just have to be between spouses.

Old_Lifer

Is  UTMA/UGMA  an American thing?

The term  'special needs' doesn't really tell us much  nowadays.  Many parents whose child is in normal education but in the lower half of the class will say that their child has 'special needs'.

I  know a number of adults with learning disabilities who receive PIP  ESA & SDA  and  all of whom receive daily carer support from the local council. They have no expectation of ever getting a job with a salary.  Some have a bank account which they operate themselves without a POA .  If they cannot use a cash machine withdrawals can be made face to face  across the bank counter.

I would agree with  xylophone's  comment above.  The  OP's post does seem to  indicate that the son can operate a bank account.

We know nothing of your son's health or of any disabilities he may have  so forgive me if I ask  -  is he just not very good at handling money?