Which is the best bank account for a 16 year old out of abbey , halifax, lloyds and barclays?
I’d go for Abbey. Abbey has The 16 to 18 Bank Account. The 16-18 Bank Account gives you the freedom to manage your money, your way – together with a highly competitive 3% AER / 2.96% gross (variable) interest rate on amounts in your account up to £500. Just pay in at least £50 each month to qualify for this rate. They give you a Visa Electron card. And you can use online banking, telephone banking or any of their branches to manage your account.
A recent survey on the worst bank accounts put Abbey as the worst. For a 16 year old, I would go to Lloyd’s because they will give you a Visa debit card on the account at 16. You will able to use it on line, in the shops, cash back etc providing you have the funds. Halifax and Barclay’s only give an electron card which is a lot more restricting.
