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    Okay, so its about time I got a debit card. What bank should I go for? What jargon should I know about? Will owning a debit card cost me anything? Etc.

    Finally, I'm 18, can I just go down to the bank at set one up? What stuff will I need on me?
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    Are you serious?
    I had a debit card aged 12.

    They are free (unless you go overdrawn), you will need two forms of ID and a recent bill/letter addressed to yourself.
    Not much jargon apart from overdraft, in the bank.
    About which account is best for you, well it would depend on your circumstances.
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    (Original post by Mister_Chris)
    Okay, so its about time I got a debit card. What bank should I go for? What jargon should I know about? Will owning a debit card cost me anything? Etc.

    Finally, I'm 18, can I just go down to the bank at set one up? What stuff will I need on me?
    In case you're not aware, a debit card is directly linked to a bank account, allowing access to whatever funds are in that account. It sounds like you don't currently have a 'current' bank account? If you do, just give your bank a call and ask for a card - (almost?) all current accounts will offer a debit card with them. Btw, for terminology, a 'current' account is a bank account designed for day-to-day banking, with instant access and usually offering services such as direct debits and standing orders (these are methods of making money transfers) as well as a debit card.

    If you don't have an account at the moment, it's relevant to consider whether you're planning to go to (or are already at) university. If so, a specially-designed 'student' account will likely be beneficial, offering an interest-free overdraft as well as various other incentives (depending on the bank - take a look here for a comparison). Otherwise, this is a useful site to compare standard current accounts. Personally, I have a Halifax 'Reward' account, which gives a £5 fixed payment as 'interest' each month, rather than an amount that depends on the balance in the account - this makes things simple, as well as allowing me to keep the balance relatively low, with other funds in higher-interest savings accounts.
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    (Original post by Terryw)
    Are you serious?
    I had a debit card aged 12.
    Yeah, I kinda noticed that my mates have all had them for ages, but my parents usually just give me cash and I'm fine with that. I figure if I'm getting a job I'll need an account for the money to go on.
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    I set one up a few months ago. Was easy, just went to my local HSBC and it took no longer than 5 minutes. I didn't have ID with me so they were able to take the details from my father's account, which was great. The card came around a week later. However, I'm only 16 so didn't start off with a student account, like you most likely will..
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    (Original post by Yasmeenax)
    I set one up a few months ago. Was easy, just went to my local HSBC and it took no longer than 5 minutes. I didn't have ID with me so they were able to take the details from my father's account, which was great. The card came around a week later. However, I'm only 16 so didn't start off with a student account, like you most likely will..
    Good point - I didn't mention ID in my earlier post. If you're setting up a completely new account, you'll generally need two separate pieces of ID - one with a photo (e.g. passport, driving licence) and one with your address (e.g. phone bill - your parent's bill should probably suffice here if you don't have one yourself).
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    Just go to Barclays, I got a pretty decent (free) account set up with a debit card .I only needed a passport, but I think you also might need a utility bill to prove your address (I didn't, I think because my Mum has an account with them or something)
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    Personally i have a seperate account for most of my money and one for my debit card. So i never have too much money in my card (both for security and interest reasons) and i can transfer money from to the other in seconds (online through the halifax).
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    (Original post by Terryw)
    Are you serious?
    I had a debit card aged 12.

    They are free (unless you go overdrawn), you will need two forms of ID and a recent bill/letter addressed to yourself.
    Not much jargon apart from overdraft, in the bank.
    About which account is best for you, well it would depend on your circumstances.
    I had one at 11

    /one-upmanship
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    (Original post by Illusionary)
    Halifax 'Reward' account, which gives a £5 fixed payment as 'interest' each month, rather than an amount that depends on the balance in the account - this makes things simple, as well as allowing me to keep the balance relatively low, with other funds in higher-interest savings accounts.
    Though, in order to get the £5 (or £6.25) on this account, you need to pay in £1,000 per month.

    I'm sure if you were crafty and had that sort of money in savings you could pay it in then take it straight back out again...
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    That's just bizarre. I had a building society account when I was 9; a bank account at 12 and a debit card at about 14. I've only just got a credit card, though, at 20.

    Just open a normal current account. I doubt you have the income or need for anything more.
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    (Original post by sandettielightvessel)
    Though, in order to get the £5 (or £6.25) on this account, you need to pay in £1,000 per month.

    I'm sure if you were crafty and had that sort of money in savings you could pay it in then take it straight back out again...
    I should have mentioned that, yes - thanks for pointing it out. And yes, I'm pretty certain that trick would work - and could even be done with regular standing orders!
 
 
 

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