Which Current Account Is Best For a 16 Year Old?

Jakg

As the topic says - what current account would be best for a 16 year old? It MUST be able to checked via the Internet and it must be able to work with Direct Debits.

Jonnno_2

At 16, most banks will let you have a full current account but with no overdraft until your 18.

You might want to consider some 11-18 accounts, these usually pay more interest and come with some freebies.

For example: Our NatWest Adapt account, interest if I remember correctly is about 3.30% gross. Also get to design your own card design, subject to £5 charge.

Have a browse through the websites of the high st banks and see what you like the look of.

skyrider007

Get Lloyds TSB account, they will give you a full VISA debit card.

Dave_Q

Alliance and Leicester Premier 21 - Visa debit Card and currently paying 10% interest on balances up to £1,000

Jakg

10%!

Is that gong to change soon or is that some silly "pay £x amount a month in" sort of scheme?

Dave_Q

Jakg wrote: »

10%!

Is that gong to change soon or is that some silly "pay £x amount a month in" sort of scheme?

10% rate is fixed for 1 Year (to 30/04/09). Main restriction is that this rate only applies to balances up to £1000.

There is no minimum regular payment that you need to pay-in.

emma396

Premier 21

Exclusively for 16 - 20 year olds, the Premier 21 bank account is designed to help you get the most from your money.

• 10.00% AER (fixed until 30.04.09) on balances up to £1,000, 0.10% AER (variable) on balances over £1,000
• Exclusive tax-efficient savings of 10.00% gross p.a./AER (variable) with our Premier ISA Issue 2 (available when you open and pay in your main income to a Premier 21 current account)
• Visa debit card making it easy to shop online and on the high street
• 24/7 access to your money via Internet, Telephone and Mobile Banking. Internet access required to view statements and manage your account
• Pay in your earnings. This could be your wages, allowances or other regular money you may receive
• 0% EAR typical overdraft. No interest on agreed overdrafts. Usage fee of 50p a day (£5 max per month) applies if agreed overdraft is used. Maximum overdraft limit is £2,500

plus you can get £49.10 cashback from topcashback

Jakg

CRAP I just registered WITHOUT the cashback