Setting up a bank account, advice needed

flyp

Basiclly i am 16, i want to set another anotehr bank account. I have a smart account with nationwide. I want to set up another i want to put money in just for my needs. Like if i want to buy somthing online. Any advice and tips. On the best?

thanks

hustle90

Lloyds TSB Under 19's Current Account
Visa Debit Card
Cheque Book
Internet and Telephone banking
Weekly txt messages with your balance (Can be set up on Internet Banking)
Linked e-Savers account
Save the Change (When you pay on your car, the remaining change in that pound is put into a savings account.

Other banks offer very similar services, but will not offer save the change and the txt message services.

flyp

Is a visa debit a card linked to the funds in your bank account? So i i buy something on my Visa Debit Card. The money decreased from my bank balance. Is that right?

arealhighlander

Yes, a debit card takes the money out straight away. You have to have the money in the bank to be able to spend it.

A Credit card "lends" you the money in advance. Make sure the bank account you choose gives you Online Fraud protection if you intend using the card for online purchases, just to be on the safe side.

flyp

thank you. I got it now

thanks

going to apply soon