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 Post subject: Bank Account for teens
PostPosted: Wed Jan 02, 2019 1:20 pm 
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Joined: Fri Mar 10, 2017 4:06 pm
Posts: 579
Can anyone recommend a good bank account for teens?

Something with a cash/debit card, online access and which doesn't allow them to go overdrawn!

Thanks.


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PostPosted: Wed Jan 02, 2019 1:28 pm 
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Joined: Wed Jun 29, 2011 8:29 am
Posts: 1636
We just opened a Nationwide FlexOne account for dd2 who is nearly 14. It gives her a debit card and we can make transfers into it easily. She gets a tiny bit of interest and it won't allow her to go overdrawn. We'll be making a modest monthly transfer so she can start managing her own money. My elder dd has one as well and uses it as a contactless for everything from coffees in costa to cinema entry. She can make easy withdrawals from ATMs as well. We bank with Nationwide and are happy with them - I 'm pretty sure they are Which? magazine's top bank.


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PostPosted: Wed Jan 02, 2019 2:01 pm 
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Joined: Fri Mar 10, 2017 4:06 pm
Posts: 579
piggys wrote:
We just opened a Nationwide FlexOne account for dd2 who is nearly 14. It gives her a debit card and we can make transfers into it easily. She gets a tiny bit of interest and it won't allow her to go overdrawn. We'll be making a modest monthly transfer so she can start managing her own money. My elder dd has one as well and uses it as a contactless for everything from coffees in costa to cinema entry. She can make easy withdrawals from ATMs as well. We bank with Nationwide and are happy with them - I 'm pretty sure they are Which? magazine's top bank.


Thanks piggys. That sounds like just the sort of thing we were looking for. :)


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PostPosted: Wed Jan 02, 2019 2:14 pm 
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Joined: Mon May 16, 2011 1:05 pm
Posts: 6331
Location: Reading
This might be useful.
https://www.moneysavingexpert.com/banki ... under-18s/


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PostPosted: Wed Jan 02, 2019 4:00 pm 
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Joined: Thu Aug 13, 2015 3:01 pm
Posts: 961
We went for the NatWest Adapt card which is a debit card that can't be overdrawn and can be used online. No problems so far with using it online or with depositing money into the account. I think it automatically changes to an adult account at 18yrs. Must admit we only got it because of ease of access to a branch and DS had a savings a/c there so it made it a lot easier to open. Good luck... not sure it has made Ds more responsible with money though :lol:


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PostPosted: Wed Jan 02, 2019 4:53 pm 
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Joined: Mon Mar 01, 2010 8:56 am
Posts: 110
Worth considering where you bank in case of need to do an immediate transfer. I know a lot of accounts are immediate now but I have been in the situation where I needed to get them some money for a bus home unexpectedly and could send immediate money to their account as they were short the amount needed.


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PostPosted: Wed Jan 02, 2019 6:23 pm 
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Joined: Mon May 16, 2011 1:05 pm
Posts: 6331
Location: Reading
mclm wrote:
Worth considering where you bank in case of need to do an immediate transfer. I know a lot of accounts are immediate now but I have been in the situation where I needed to get them some money for a bus home unexpectedly and could send immediate money to their account as they were short the amount needed.



DDs account is with the same bank as me and money transfers instantly. DH uses a different bank to me and if he transfer money to DD it takes an hour or so usually.

Edited because auto-uncorrect struck again.


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PostPosted: Wed Jan 02, 2019 6:27 pm 
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Joined: Thu Aug 13, 2015 3:01 pm
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Tinkers wrote:
DDs account is with the same bank as me and money transfers instantly. DH sues a different bank to me and if he transfer money to DD it takes an hour or so usually.

I like the idea of suing a bank :lol:


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PostPosted: Wed Jan 02, 2019 6:29 pm 
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Joined: Mon May 16, 2011 1:05 pm
Posts: 6331
Location: Reading
BucksBornNBred wrote:
Tinkers wrote:
DDs account is with the same bank as me and money transfers instantly. DH sues a different bank to me and if he transfer money to DD it takes an hour or so usually.

I like the idea of suing a bank :lol:


So do I, but unfortunately I doubt I’d be successful. Edited, thanks. :lol:


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PostPosted: Wed Jan 02, 2019 8:17 pm 
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Joined: Wed Jan 18, 2012 11:41 am
Posts: 8866
Location: Essex
mclm wrote:
Worth considering where you bank in case of need to do an immediate transfer. I know a lot of accounts are immediate now but I have been in the situation where I needed to get them some money for a bus home unexpectedly and could send immediate money to their account as they were short the amount needed.


With both Arriva and First, you can 'gift' mobile tickets to other people. I keep meaning to get the app for one or both.

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Outside of a dog, a book is a man's best friend. Inside of a dog it's too dark to read.Groucho Marx


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