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bank accounts for 16yr olds

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Daughter wants to open an account, she has a savings account but wants a working account, is she better off waiting till she leaves school and becomes a student?
sassie Avatar
banned7y, 2m agoPosted 7 years, 2 months ago
Daughter wants to open an account, she has a savings account but wants a working account, is she better off waiting till she leaves school and becomes a student?
sassie Avatar
banned7y, 2m agoPosted 7 years, 2 months ago
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#1
you should let her open one so she can learn how to manage her money and you can keep an eye on and give her advice on b4 she is 18..,

http://www.natwest.com/personal/current-accounts/g1/young-people.ashx
#2
how about a halifax easycash account, the visa electron means you can make sure she doesn't overspend?
http://www.halifax.co.uk/bankaccounts/easycash.asp
banned#3
flp14344
you should let her open one so she can learn how to manage her money and you can keep an eye on and give her advice on b4 she is 18..,

http://www.natwest.com/personal/current-accounts/g1/young-people.ashx


she is good with money, she has a savings account which she has never touched, but we talked about a working one, but wondered if it best to wait to open a student account? although not sure how these are different to normal ones
#4
Hi Sassie, my eldest had a barclays account then when she became a student they just literally changed it over for her. This is quite common and easily done.
A student account usually comes with a few benefits such as a free railcard, I tunes voucher etc, it also gives a free over draft facility, this varies with each bank. A student account can only be opened by students, proof of acceptance at uni is needed and loan/grant has to be paid into that account.
Hope that helps.
banned#5
sassie
she is good with money, she has a savings account which she has never touched, but we talked about a working one, but wondered if it best to wait to open a student account? although not sure how these are different to normal ones


Is she going to need a student account in a couple of years?

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