I am 17 (last year in sixth form) and I am looking to set up a bank account but have no idea which is the best for me, all I really want is a card to get money easily and a decent interest rate, not bothered about offers or internet banking, which seems like the best account based on this? If you need it, I can give you more information too.
2006-10-10 09:14:35 · 6 answers · asked by seandougy 2 in Business & Finance ➔ Personal Finance
Thanks for the answers so far, I'd probably choose a high interest account over an account with a cash/debit card if that helps.
2006-10-10 09:30:21 · update #1
I'm just going to add details as I go along. I'm a football referee on Sundays and I get cash in hand, does that affect owt?
2006-10-10 09:34:01 · update #2
Lloyds TSB look good at the moment, don't be fooled into a bank account because of free this and extra that, everything comes at a cost
2006-10-10 09:17:35 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Accounts that provide cards are notorious for paying low interest purely because the bank don't get to hold onto your cash. Those that do pay quite good interest tend to require a minimum deposit each month, usually £1k per month approximately.
I got quite a good account from Natwest when I was 17 - First reserve. I got a cash card (not a debit) and there was no overdraft facility or chequebook. So I only spent what I had. Have a shop around and take heed of what the other answerer said. Nothing is free!
2006-10-10 09:27:06 · answer #2 · answered by Stygian 3 · 0⤊ 0⤋
CITIBANK. they have a college student account package wherin you do not have to maintain any minimum balance. no monthly maintanance fees(RECENTLY CHANGED, earlier there was a $3.00 monthly fee). the only fee is a $1.50 per withdrawal fee if you make a cash withdrawal at a non-citi atm. Great thing is you will find citibank atm's at all seven-11 stores across the nation.with this package type you also get a pre-approved overdraft protection(credit limit of $500.00). you get a atm-debit card which can be used for withdrawals and purchases.you can open an account online (myciti.com) over the phone or at the branch. there are some more advantages.try calling their customer service at 800-627-3999( open 24/7)
2006-10-10 15:31:25 · answer #3 · answered by jeffrey 2 · 0⤊ 0⤋
HALIFAX
Straight forward nonsense account, without a overdraft, trust me you do not want to start getting into debt at your age!
wait until you get a mortgage!
2006-10-10 09:25:01 · answer #4 · answered by Loader2000 4 · 0⤊ 0⤋
Lloyds or HSBC make sure that they give an interest free overdraft.
2006-10-10 09:22:39 · answer #5 · answered by inkly 2 · 0⤊ 0⤋
If you paying into your account montly (i.e wages) try Nationwide
2006-10-10 09:31:59 · answer #6 · answered by Lilu 3 · 0⤊ 0⤋