Halifax Bank Accounts For 17 Year Olds

Aer stands for annual equivalent rate and shows what the interest rate would be if interest were paid and compounded each year.

Halifax bank accounts for 17 year olds. Grow with me account a unique high yield savings account that grows with the child until they turn 18. With a standard joint account each account holder has 100 access to the funds so either the adult or the child can drain the account and rack up overdraft fees unless the bank restricts what the child can do. It offers 0 5 credit interest on balances between 1 and 2 500. No monthly fee 500 minimum deposit to open an account and the option for family friends.

In other words you earn interest on the interest you leave in your account. A teen bank account may be a more suitable option for a 16 17 year old as the accounts tend to offer more features than a children s account. Keep that in mind before you set your child loose with a large available balance. The best bank accounts for cashback.

Halifax expresscash 11 17 the halifax expresscash account is tailored for children aged 11 to 17. Young savers account available for kids 18 years or younger. 11 12 year olds can only apply in branch a parent or guardian must be with you when you open your account. Expresscash 11 17 years old monthly maintaining the account fee.

Halifax bank accounts and services are subject to status. Only 5 to open an account with no monthly service fees or minimum balance requirement. Joint account risks. 7 to be eligible for cashback extras you need to be over 18 have a halifax current account a halifax debit and or credit card and be registered for online banking.

Some of the teen accounts mentioned in the table below are app based bank accounts and so give teens full independence over their money whilst not compromising safety. The halifax account comes with a visa debit card which has a maximum withdrawal limit of 500 a day. As part of a regulatory requirement an independent survey was conducted to ask approximately 1 000 customers of each of the 19 largest personal current account providers if they would recommend their provider to friends and family the results represent the view of customers who took part in the survey. If you re 11 12 years old please visit us in branch with your parent or guardian and proof of identity as shown below and we ll start an application process with you.

If you re 13 17 years old please start your application online. For more information and faqs please read the account switching guide pdf.