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Best bank to open an account with for a 16 year old

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    I have just got a job and so I am looking for a bank to open an account with. I am 16. I have heard that quite a few banks do pretty good student accounts.
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    (Original post by cheeseandbiscuits)
    I have just got a job and so I am looking for a bank to open an account with. I am 16. I have heard that quite a few banks do pretty good student accounts.
    You can't get a student account yet - you have to be in uni/college, and be 18 to have access to overdrafts (the main difference that a student account has to othters), What you can get though is a current account and a solo/debit card. ATM, I'm with natwest - interest isn't great but online banking makes things easy when shifting money and no hidden fees, as long as you stay in the positve.
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    I got a Nationwide FlexAccount

    Pretty good, and has e-savings which offers a decent interest rate.

    But I think Alliance and Leicester offer an even better interest rate (10%), but you have to put in 250 a month, and I think you can only put in a max of 1000 overall.
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    lloyds do good online banking, savings account. And you get a Visa debit card which is particulary good if you go abroad.
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    I'm with Lloyds - Pretty good service from a larger bank; VISA Debit card when you're 16 is fantastic - much more widely accepted than Solo/Electron, and easy-to-use Internet Banking + Text Alerts.

    You don't get a lot of interest on this (their Under 19s) account, but you have access to an Online Saver or Cash ISA, both of which give about 6% to start with, and there's no minimum balance (maybe £10 for the Cash ISA).

    You can apply online.
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    All the banks offer near identical facilities for 16 year olds anyway so it doesn't really matter.
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    What about Natwest because that it is who I was thinking of going with?
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    i'm 17 and with natwest, and i haven't had any problems so far. if you stay with natwest up until you're at university (which i'm planning to do) then you'll get that railcard that gives you 1/3 off all train journeys.
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    I had a Nationwide account then, it was pretty decent.

    I'm with Natwest for my student account now though, and I've been told their other young people's accounts are pretty good.
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    I went with halifax in the end just for the reason they offered me a Visa Debit card lol
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    I'm with abbey, you can do the online handling thing, have a visa/debit card as well as cash card and a cheque book.
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    ^^ Abbey only offer a Visa Electron to 16 year olds.
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    nationwide smard account is a good account!
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    I have had several bank accounts but now I have decided to stick with Barclays and NatWest. Natwest's specific teen account is NatWest Adapt. .... Don't get it as this account is ********!!!! It wouldnt accept payments such as BACS so bad for EMA and job payments. Instead open a Current Plus account with them as this account lets ou have a chequebook and Visa Debit

    I also have Barclays Young persons account: Visa Debit and Chequebook


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Updated: July 20, 2010
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