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Trouble opening current account for 18 yo DS.

(25 Posts)
GrumpyOldBag Mon 10-Apr-17 16:10:53

Posted this in teenagers, but maybe this is a better place:

Desperately want DS to start managing his own money properly. At the moment he just has a young person's savings account, which does not include a debit card, so anytime he wants to order anything online I need to do it for him & he pays me back in cash.

He will (hopefully) be off to Uni in September, so a student current account would be ideal. However most banks don't seem to allow you to open one until your course is confirmed and you are within 2 months of the start date. Obviously we're not at that point yet.

Don't really want to help him open a bank account now and then have to go through the whole process again in a few months' time.

Anyone else been in this situation & found a solution?

kath6144 Mon 10-Apr-17 16:21:59

Have you tried any of the banks already, it is not clear from your Op? Also, why have you waited until 18 for him to have an account with a debit card?

My DC both had a Lloyds young person account from early teens, with debit card. This was not unusual, most of their friends have accounts with debit cards. It gives them independence.

When DS reached 18 he got an inheritance, so we upgraded youth account to a proper current account, allowing him to have direct debits etc from it. This has allowed him to set up a DD to move his inheritance into an ISA. I fully expect to do the same for DD when she turns 18 next year.

He also has a student HSBC account, which he uses for day to day finances at uni, keeping Lloyds for other stuff.

GrumpyOldBag Mon 10-Apr-17 16:33:21

His savings account is with Halifax. When we went into the branch several months ago to upgrade to an account with a debit card, they said he would need to switch at 18 anyway, so we decided to wait a few more months until after his birthday. Now it seems he can't get a student account until he knows what course he's on.

Nationwide has a good student current account, but they will only allow you to open it within 2 months of starting your course.

Babyroobs Mon 10-Apr-17 16:33:24

I just opened one for my 16 year old ds with Santander. Not sure if it's a current account but he has a card and can order stuff online. My older ds (18) has had one with Barclays also.

19lottie82 Mon 10-Apr-17 18:13:22

Open a regular current account just now and when he starts uni they should be able to just switch it over, it's not a big deal.

Groovee Mon 10-Apr-17 18:15:06

I opened both my teens with nationwide. It might be worth just opening a basic bank account just now and once he's heading to uni changing it.

thatstoast Mon 10-Apr-17 18:20:08

It's no fuss at all to open a bank account.

At 18, and a few months off going to uni, he shouldn't need help? He can pick one he wants and open it. In September he can open a student account if there's a benefit to doing so (joining bonus, overdraft etc).

evensmilingmakesmyfacehurt Mon 10-Apr-17 18:26:57

He is 18, he is an adult why are you doing this for him?

He can open a normal bank account and then most banks can transfer them across to student accounts very easily once he is a student at uni.

MeredithLogue Mon 10-Apr-17 18:28:29

Both teens opened Santander accounts on line.

GrumpyOldBag Mon 10-Apr-17 18:31:27

thatstoast it's much more hassle than I'd expected. Nearest bank branches are half hour journey away. Over-18s have to go in in person and need an appointment. He's at school every day until 6.30 and on Saturday mornings in term time so the appointment needs to be in the school holidays. He's revising hard at the moment so I offered to help with the research to get the best deal on free overdraft & interest rates.

The key benefit to a student account is the interest-free overdraft. It does looks as if he's going to have to open a normal current account first and then switch to a student account after his offer is confirmed because of the restrictions on that, so he needs to make sure the bank will allow that.

kingscrossnoodle Mon 10-Apr-17 18:35:32

Just get him to open an account now and then open a student one when he needs it. 18 is rather late to be getting a current account, my lot have had debit cards since they were 11.

GrumpyOldBag Mon 10-Apr-17 18:38:44

kingscrossnoodle ds has had a savings account since he was 8, with a cash withdrawal card. He couldn't get a debit card at age 8; and the account has been fine for his needs until recently.

He doesn't want the hassle of opening 2 new bank accounts within a few months of each other.

ASDismynormality Mon 10-Apr-17 18:41:40

Can he just open an account online to save him going to branch. 15 year old DD did that with Nationwide.

dementedpixie Mon 10-Apr-17 18:41:49

They should be able to convert a current account to a student account without changing the actual account number/card. They just can't do it with a savings account

GrumpyOldBag Mon 10-Apr-17 18:44:26

ASDismynormality not if you are over 18.

GrumpyOldBag Mon 10-Apr-17 18:45:52

Yes, thanks dementedpixie, I understand that now.

ASDismynormality Mon 10-Apr-17 18:48:15

Looks like you can at Barclays www.barclays.co.uk/CurrentAccounts/P1242557963414

dementedpixie Mon 10-Apr-17 18:49:29

Halifax lets you start the current account application online as I just started one to see

dementedpixie Mon 10-Apr-17 18:50:41

https://apply.halifax-online.co.uk/sales-content/cwa/h/pca/?product=rewardcurrentaccountHLX#!b

GrumpyOldBag Mon 10-Apr-17 18:51:22

Yes, you can start it but you still need to go into the bank with ID etc. DS spoke to them at length about it, and has made an appointment.

NeedABumChange Mon 10-Apr-17 18:55:28

Well obviously he can't get a student account until he can prove he will be a student, open a regular one and then switch confused

GrumpyOldBag Mon 10-Apr-17 18:56:35

Yes, that's what he's going to do.

Rockchick1984 Mon 10-Apr-17 19:22:29

If he opens a normal current account with the bank he wants for the student account, he can take his Uni confirmation letter into the branch and they will change the account type so won't need a new card, account number etc.

kingscrossnoodle Mon 10-Apr-17 19:29:50

You are making a mountain out of a molehill. Seriously it's not a hardship to make an appointment with anyfucking the bank. I don't know why you say a cash card has been fine up until now, an account that suits an 8yo isn't designed for upper teens. Everything is debit cards and online and you have already said it's a pain for him to have to sort money and have you do his online orders. But you seem to be making much more of a simple bank account opening than is necessary.

GrumpyOldBag Mon 10-Apr-17 19:36:02

Thanks for your constructive feedback Kingscross.

DS has now actually made an appointment at the bank. They needed 5 days' notice. As I explained upthread he can only do it during these rather short school holidays because of the long hours he spends at school, in the middle of nowhere.

Ans when he went to change the account 6 months ago they said he should wait until he was over 18. No idea why, but that was the advice he was given in the branch.

Anyway, we're all sorted now. Thanks to everyone who took the trouble to post constructive advice.

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