18 year old - Please help with Bank Account

James_Bond

Hi there,

I have just turned 18, and I'm looking for the best bank account that provides me with a debit card so that I can use it online for websites such as paypal etc.

Currently, I have 3 accounts, two with nationwide and one with abbey. However, I would like to close two accounts, leaving me with a single debit card so that I can use online, in addition to earning a respectable amount of interest.


I don't think I qualify for a student account and I'm not interested in an overdraft facility.

I have tried to google the answer, but I think it varies from time to time and isn't too easy to understand. Any advice would be very much appreciated.

Lokolo

Lloyds offer a VISA debit card which can be used more or less everywhere.

HSBC offer a Solo debit card which can be used in 90% of places. I use this card on PayPal.

James_Bond

Lokolo wrote: »

Lloyds offer a VISA debit card which can be used more or less everywhere.

HSBC offer a Solo debit card which can be used in 90% of places. I use this card on PayPal.

Thanks very much. But do you know if they provide a respectable amount of interest?

Also, do I just walk into Llyods for instance, and ask for an account wit a debit card.. is it as simple as that?

I'd also like to use the card for matched betting.

Lokolo

No I don't think they do. Lloyds pays more than HSBC. I always have more interest in Lloyds than HSBC and theres always m ore money in HSBC! But this is still a measley penny thing.

If you open a savings account with them too the transfer from savings --> current account is instant so you this is the best I can think of really.

Um yeh I think so, HSBC I've had since I was a kid but Lloyds I went in a few years ago and asked if I could open a current account, they said yeh, took me into a room and someone took my details and it was all dandy (need passport/drivers lisence etc).

Baldur

James_Bond wrote: »

I would like to close two accounts, leaving me with a single debit card so that I can use online, in addition to earning a respectable amount of interest.

The A & L Premier 21 account appears, from a quick browse, to tick all the right boxes.

James_Bond

Baldur wrote: »

The A & L Premier 21 account appears, from a quick browse, to tick all the right boxes.

Thanks again everyone.

The problem with that account is that, firstly. After youve got the 10% on the £1k (£10).. the rate goes to a poor 0.1%.

In addition to this , there are not many A&L branch's near me.

Baldur

James_Bond wrote: »

Thanks again everyone.

The problem with that account is that, firstly. After youve got the 10% on the £1k (£10).. the rate goes to a poor 0.1%.

Any funds over the £1,000 can be switched into the linked Plus Saver a/c @ 5.5%

In addition to this , there are not many A&L branch's near me.

If it's anything like the other Premier accounts, the account is mainly operated via internet banking. Paying in & cash withdrawal are possible via the Post Office, if that's your concern.

TartanWarrior

You will never get a good credit interest with a current account, about 0.01%, if they say they do their is a catch.

To tranfer the money to and from a savings account in most cases you will loose the interest for that month, it will put up your behavour score which is a good thing.

Their is not much you can do, credit interest is 0.01% and debit interest 18.8%, it's another way for the bank to profit.