ISA For 16 Year Old...

Aar0n

Hi all, hopefully I can make some sense of all this ISA stuff. Basically, I'd like a high interest account, that will allow me to withdraw money whenever, prferably by card (Although I'd settle for other methods if the interest is really much better) and ideally doesn't have to have anything go in each month. If it has to have something being put into each month, I'd rather it wasn't too much so I know I can afford it.

I've got about £600 to put away now (Before the tax year ends) and basically can't figure out what account I need at all. Perhaps I don't even need an ISA, I need a decent bank account. It's all quite confusing to me.

Thanks
Aaron

Lokolo

High interest accounts with a card do not exist (i am sure there are some but are very rare) The reason high interest accounts is to put money in and leave it in there for a long time.

Are you still sutdying or going out to work?

You can either get a high interest savings account or a current account with a bank?

martinman3

This has been discussed recently, see http://forums.moneysavingexpert.com/showthread.html?t=800713

Aar0n

Thanks for the replies. I couldn't really see much advice from that link other than the fill out an R85 form. I'm still in full time education but will be making less than £3000 a year in the near future, so would I even need to fill out an R85?

Is the Alliance and Leicester Savings Direct ISA any good? It appears to offer 6.25% interested until May 2009. I can access it any time online or by phone, which is even better than a card to me. Are there any catches like I have to pay in a cetain amount a month or they automatically change the interest rate to something awful?

Also, I've currently got a Natwest account that I'm sure is much worse than others out there. Are there any that would be beneficial to me? I'd never have more than about £800 in there, and it's essential to have a card, and preferable to have online banking too.

Thanks again:D

Aar0n

Anyone? Please?

I'd like to open an ISA before the tax year ends, and still have no idea on which to get. I was looking at Alliance and Leicester's Premier 21 account linked to their Premier Isa Issue 2. (Although this is for the 08/09 tax year now) Does anyone have any experience with this? It says I can get 10% if I arrange to pay in my monthly wages or allowences. What if this is EMA or something like a £5 a month (As an example).

Thanks