Bank account deals for 16 year olds

Wells Fargo Teen Checking

Proof of ID for the child and proof of ID and address for the parent or guardian will need to be provided.

The account can be managed through text alerts, online, through the mobile app, over the phone, as well as in a Nationwide branch. The adult will need to bring something with their name on like a credit or debit card and a household bill that is less than three months old.

Interest rate

A child will need to go into a branch to show proof of ID, while the parent or guardian will need to show similar documents to those described above. The interest is calculated daily and paid monthly. Your child can manage the account through text alerts, online, through the mobile banking app, in a branch or over the phone.

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  • Why should I get a card for my child??

You can open an account online or in a branch. If your child is under 16, you need to open an account on their behalf. It allows a child to earn 0. The account comes with a cash card or a Visa debit card, which Barclays allows you to personalise with a photo.

If you're 11 to 17, opening your first bank account can seem scary. It doesn't have to be.

If the parent or guardian banks with Barclays, an application can be made via Video Banking, but if not, an application will have to be made in branch. A child will need to bring ID, which can be a passport or National Identity Card, while proof of address and identity is also required for the parent or guardian. The account can be managed online, through the mobile banking app, over the phone from the age of 11 and in a HSBC branch.

To open an account, you will need to print an application form, fill it in and take it to your local branch. You will need to provide ID and proof of address for the child and yourself, unless you as the parent or guardian are an existing HSBC customer.

Teen Checking Account | Wells Fargo

Bank of mum and dad: how to help your children buy a home. Children's inheritance: how much is too much for your kids? Do you want to comment on this article?

Why choose our Under 19s Account?

44 results Compare these accounts for teenagers that will help you become more independent with your money. Ulster Bank Adapt Account Year Olds. If you're 16 or 17 years old and like the sound of managing your own money and a little more independence, just download the Starling app and apply for an account in less than five minutes. The real deal. An app-based bank account.

You need to be signed in for this feature. On the hunt for a current account for your children? Here are our top picks for year-olds. Many banks offer these. Typically they are available to children aged 11 and above, making them a good home for pocket money or cash earned from jobs. And there are usually no fees or charges.

Young Person's Account

One account that might appeal to Guardian readers is the FlexOne offered by Nationwide building society , which has mutual as opposed to plc status, which means it is owned by and run for the benefit of its 14 million-plus members. FlexOne is aimed at those aged between 11 and 17, though it can be held up to the age of I should disclose that both my teenage daughters have had a FlexOne account for almost two years and they have been a success. Santander offers the Mini Current Account for those aged between 11 and 18, where again there is the choice of a cash card or a Visa debit card.

These accounts can be opened by those aged and respectively, and both offer the choice of a Visa debit card or a simple cash card. A Visa debit card is automatically provided, though the bank says that if for any reason this is not wanted, it can stop one from being sent out.

Explainers for Bank Accounts for Teens

Interest is calculated daily on the full credit balance and paid less resident withholding tax into your Westpac Bonus Saver account on the last business day of each month. Tier Base Bonus Potential All balances 0. Simple Saver - Interest rates Interest is calculated daily, and the same rate applies whatever your balance. Tier Rate All balances 0.

UNDER 18? WATCH THIS BEFORE MAKING A PAYPAL!!!

Westpac Everyday - Fees Fee exemptions available for customers 65 and over, superannuitants and under 19 year olds. Service fees still apply. Manual withdrawals Cheques and withdrawals at a branch.

Simple Saver - Fees Service fees still apply. Skip to main content. For other account options please call us or visit your local branch. How it works With life becoming busier you might need a little more flexibility with your everyday banking. Everyday banking Apply for an everyday transaction account. Next Steps Turning 19? School leaver?