Looking on line and there seem to be a number of accounts targeted at the 13 – 18 market. Want something for the youngest to give him a debit / cash card and app. Monzo seems to be looking favourite but I thought I’d consult the oracle before getting him to sign up.

TIA

Shameless plug cos I work there, but do consistently come top in Customer Satisfaction indices

https://www.nationwide.co.uk/products/current-accounts/flexone/whats-flexone#tab:Whatand39sFlexOne

Nationwide accounts for our two (14 and 12), do everything you would want, online access, transfers, contactless etc etc. Would recommend.

What’s the difference between an account for a 16-year old and an account for a 36-year old? Genuine question, do they restrict transactions or something?

Our two have Nationwide accounts, eldest (just turned 17) now has HSBC accounts as well so he can juggle his money between the best options and his homebuyers ISA.

When I was 17 I got paid cash for my Saturday job and on a Saturday evening I handed the cash to a pub landlord….

I like Monzo myself. There’s a couple of things it doesn’t do like paying in cheques with an image or cash at the post office for free, but the app is great and I’d have thought a teenager would like a mobile only bank.

On all the moaning about the ‘plus’ features you have to pay for now, people have been saying they might move to Starling as they do things free that they like. Might be worth comparing the two.

Our two have Nationwide accounts, eldest (just turned 17) now has HSBC accounts as well so he can juggle his money between the best options and his homebuyers ISA.

When I was 17 I got paid cash for my Saturday job and on a Saturday evening I handed the cash to a pub landlord….

OK Boomer… 🤪

What’s the difference between an account for a 16-year old and an account for a 36-year old? Genuine question, do they restrict transactions or something?

Nowt I wouldn’t have thought.. Interest rates on current accounts are basically zero so its all about whatever perks the account comes with, £100 bonus for signing up or some sort of phone insurance or cashback on purchases or whatever.

What’s the difference between an account for a 16-year old and an account for a 36-year old?

You can’t have any form of overdraft for one thing – can’t agree to debt until you’re 18.

Lifetime ISA minimum age is 18, the replacement for the Help To Buy ISA might happen in 2021 (the old one that stopped allowing new accounts in November 2019 had a minimum age of 16 IIRC).

My 17yo daughter has a Santander 123 Mini account with online banking and debit card.
1% interest on balances up to £999.99, 2% between £1000 and £1499.99 and 3% between £1500 and £2000 which I think is pretty good.

What’s the difference between an account for a 16-year old and an account for a 36-year old? Genuine question, do they restrict transactions or something?

… and in The Olden Days, you couldn’t have a cheque guarantee card until you were 18, because, again, the bank was obliged to settle cheques guaranteed by the card, even if that takes the customer into debt, and you can’t have debt if you’re under 18.

Retail banking, hardest game in the world, eh? Twenty seven years, man and boy…

Our’s were with Bank of Scotland until they decided they didn’t like people paying in cash(!) and told my 13 year old that he should be paid electronically for his paperound and that he had to wait three months until the person who could open accounts was at the Dunblane branch….! Then they shut Saturday morning paying in.

Sorry IHN, we were with Nationwide for years for baby savings type accounts, but again closed branches on Saturdays and requirement to open accounts on set days with set people was a faff to far…

Our are with HSBC – works well with easy cash pay in, good app etc.
If they plan any travelling they also need a Starling account for cheap spends and easy account management abroad.

Ah, makes sense. Cheers.

Our two are 12 and 13 we have just opened them a NatWest current account each after closing their go Henry cards, no issues so far.

Starling

Nationwide have been brilliant with my teen. Treating her with respect and taking their time to explain things.

I use a Monzo account in place of cash and it’s got an ease of use that will probably appeal too.