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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?

    5 Comments

    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//ww…shx

    how about a halifax easycash account, the visa electron means you can make sure she doesn't overspend?
    halifax.co.uk/ban…asp

    Original Poster Banned

    flp14344;7398780

    you should let her open one so she can learn how to manage her money and … 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

    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

    sassie;7398804

    she is good with money, she has a savings account which she has never … 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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