Bank account for occasional boarder?

[pugsandseals]

Wanting to give dd (year 7) a bit more independence when she boards. Anyone with any experience of bank accounts for this age group? Ideally looking for a card she can use in the wall & online shopping (mainly for buying books for her ereader) with a very low amount in it & no way of going overdrawn! Does something like this exist? & how realistic is it to do this for an 11 year old? Am I mad for even considering it?

[Sunnymeg]

Natwest do something called an 'Adapt' account. DS opened one a few months ago. He has a debit card and uses it in shops and our local branch explained online banking to him. He can also check his balance on a phone app. I pay his pocket money into it, and so far he is managing it well. They don't allow overdrafts. Apparently it upgrades automatically when he is older, hence the Adapt name.

[hellsbells99]

Several banks do accounts from age 11 that give a visa debit card. Hsbc do, think santander do.

[stillinmypyjamas]

I opened an account with bank of Scotland for my son when he was 11.He has a card that he can use in shops or the hole in the wall,and he has occasionally used it on line.There is no option to go over drawn and we keep an eye on the balance in his account.He pays any spare cash he has into it and then if he is out and about and needs something he can usually pay by card,rather than carrying cash "just in case", which would always get frittered away.I am not 100% sure without checking but think the account is called revolve.

[enderwoman]

My son has a Visa debit card from Barclays. No overdraft and works online.

[roisin]

Most banks do this sort of account.

My boys got their accounts at Lloyds when they were 12. They get an allowance each month (from us) by standing order, which covers school lunch money, bus fares and pocket money; then they manage it themselves. It has worked fabulously for us.

[pugsandseals]

I never even realised this kind of thing existed! Not a bad idea then? I thought I would end up opening something in my name & giving dd the card to use!
Love the idea of paying in a standing order for pocket money - I'm thinking clothing allowance as well as tuck money, without the worry of her spending coins like they are going out of fashion.
Could be a really good way to teach her the value of money! Off to do some research .....

[happygardening]

Do check with the school first some schools don't like children having too much money in the form of cash or debit cards. At prep mine were only meant to have £2.50 a week in cash which they were meant to hand in and were given on Sunday when they went to the local town. Money is also restricted at my DS's boarding school.

[pugsandseals]

It was actually school that suggested they get a bank account in the High Street, but with opening times of 10-2 when the school don't let them out during lunch I was looking at getting her a card for the atm machine. I have been amazed at all the online banking & debit cards kids can get looking on the net! & if they spend all their money they will soon learn - what a fantastic idea :-)