banking app on 12 year old's phone?

wallofbeans

Rob5342 said:

Have you looked at switching them to a Starling Kite account instead? That would let you monitor their spending and set  daily spending limits which would give some protection.

I'll look into it. But only just got the HSBC account up and running... Needed to go to a branch (when open - which is only Saturday morning for those with jobs) with 500 types of ID, so it took a while.

Plus, child is very sensible and doesn't want to spend anything and those kids accounts always have a fee. And the HSBC account has an automatic savings account attached with a not bad 4.25% rate up to 3k.

ForumUser7

wallofbeans said:

Rob5342 said:

Have you looked at switching them to a Starling Kite account instead? That would let you monitor their spending and set  daily spending limits which would give some protection.

I'll look into it. But only just got the HSBC account up and running... Needed to go to a branch (when open - which is only Saturday morning for those with jobs) with 500 types of ID, so it took a while.

Plus, child is very sensible and doesn't want to spend anything and those kids accounts always have a fee. And the HSBC account has an automatic savings account attached with a not bad 4.25% rate up to 3k.

And even better, the rate for balances below 3k is increasing to 5% in the next few days (Maybe 8th or 9th, cannot remember)