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Struggling to open a current account for 18 yo DS

(28 Posts)
GrumpyOldBag Mon 10-Apr-17 16:09:03

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 bank 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?

RockyRoadster Mon 10-Apr-17 16:14:23

Both of mine have easily converted their existing Santander bank accounts to student accounts just before going off to uni. I don't know if the same applies with other banks

Seeline Mon 10-Apr-17 16:16:12

My 15yo has a current account with Barclays that has a debit card. They said it could be converted to the next stage when he reaches that age (16 I think). Have you spoken to the bank to see if a simple conversion could get him a debit card?

GrumpyOldBag Mon 10-Apr-17 16:21:13

Yes, his savings account is with Halifax and they said he would need to open a current account from scratch.

onadifferentplanet Mon 10-Apr-17 16:22:11

DS2 and DS3 both had Nationwide Flex accounts from 16, but they both had part time jobs with wages going in, not sure if that made a difference. When DS2 went to Uni he had to open a student account elsewhere( but he also kept the Nationwide one for wages from his holiday job )as they didn't do one but they do now and from what DS3 has said it can be simply transferred over online which is what he intends to do this Summer (results willing!)

RoseAndRose Mon 10-Apr-17 16:26:20

Yes, he'll needs a current account. And all the main banks offer ones for young people (whether students or not) from age about 13 upwards with a debit card that can be used to withdraw cash and to make payments (in person and online) but only to limit of their balance (no overdrawing allowed at all).

They should routinely upgrade to student account idc, but check that.

harridan50 Mon 10-Apr-17 16:27:22

It is hardly that time consuming or arduous to open a current account. Both my daughters have had accounts with debit cards and also isas they manage themselves since 16 when they started working at weekends and holidays. It does not take many minutes to turn these accounts into current accounts when they leave for uni.

Electrolux2 Mon 10-Apr-17 16:29:01

My 11 year old had a select account with a debit card from NatWest

KingLooieCatz Mon 10-Apr-17 16:31:17

Why can he not sort this out himself?

If he doesn't go to the effort of finding one that can be converted to a student account it will be absolutely his problem doing it all over again.

Don't get people who spoon feed offspring on the point of leaving him.

I'm sure he will find the motivation when you tell him you will no longer be ordering on-line for him. The situation will resolve itself with no more intervention from you, I guarantee it.

KingLooieCatz Mon 10-Apr-17 16:33:10

On the point of leaving home, that should be. I'd have gone nuts if my mother had interfered in my life to this extent at that age.

Chillidawg Mon 10-Apr-17 16:36:25

The Natwest Adapt account has worked well for my teens, with debit card and good online/app banking to help them keep track. They will also change the account to a Student one at the right time. I just opened one for my youngest teen and they specifically asked if I required this in due course.

GrumpyOldBag Mon 10-Apr-17 16:36:56

KingLooieCatz he is revising hard for his A-levels at the moment, and also has some special needs which means he finds communications difficult, so i said I'd help with research.

I'm not spoon feeding him, far from it, but as I am quite financially savvy myself I want to make sure he gets a good account with a free overdraft and earns interest on his balance.

It's turning out to be far more complicated than I expected.

PortiaCastis Mon 10-Apr-17 16:37:31

Why can't he open his own account, he's an adult.

GrumpyOldBag Mon 10-Apr-17 16:39:00

I also assumed that he'd simply be able to upgrade his existing Halifa account but they have been quite clear that is not the case.

So I thought we should look around for the best account which offers the best facilities if we have to start from scratch again.

TantrumsAndBalloons Mon 10-Apr-17 16:43:06

HSBC have debit cards from age 11 and DD converted hers to a student account last year just before she went to Uni last year, she just had to take confirmation of her course and her ID so it wasn't too much of a hassle

GrumpyOldBag Mon 10-Apr-17 16:47:17

The nearest town to where we live (with bank branches) is 8 miles away. Half an hour travel time including allowing for heavy traffic and finding parking space.

As far as I can tell no bank will allow you to open an account online, so he needs to make an appointment and go in in person with all the correct ID.

He has already made an appointment at one place later this week, I'm not going with him. However i don't think they are going to allow him to open a student account, so I'm doing some extra research, while he revises, to try & sort this out, to save him having to do it again in a few months' time.

I came on here to try and get some helpful advice, not to be told I'm a shit parent for wanting to help my son get the best bank deal he can.

Thanks to people who offered some constructive suggestions.

millifiori Mon 10-Apr-17 16:50:23

OP, my DC (mid teens) have barclays current accounts with debit cards. they also have instant access savings accounts which birthday money and any earnings go into, which they can then transfer over into the current account if they want. Their pocket money is DD into the current account. Would it be worth looking at Barclays and asking if they will automatically transfer it over to a student account once he enrols?

AnyFucker Mon 10-Apr-17 16:54:04

Lloyds do an under 19's account with a debit card that automatically changes

You can apply online and then just take ID into branch. Would that suit ?

OddBoots Mon 10-Apr-17 16:54:46

I don't think you can change a savings account into a current account at any bank but if he opens a current account he can change that into a student current account.

dementedpixie Mon 10-Apr-17 17:03:13

Get him to open a current account and then convert that to a student account when required. You wouldn't be able to convert the savings account to a student account as it's the wrong type of account. My Dd has had a current account with debit card from age 11. She also has a savings account

GrumpyOldBag Mon 10-Apr-17 17:09:07

He's had the savings account for about 10 years I think. At that age (and when we opened it) there wasn't an option to get a debit card too, just a cash card. It's worked fine for his needs until recently which is why he never opened a current account before.

Those who have said he'll need to open an ordinary current account and then switch/upgrade to a student account with the same bank, thanks, I think that seems to be the only solution.

Student account definitely worthwhile because of the free overdraft.

dementedpixie Mon 10-Apr-17 17:11:17

You don't get debit cards with savings accounts, just with current account. It may even be easier to open a Halifax current account as he is an existing customer

HSMMaCM Fri 14-Apr-17 10:01:07

Dd has a Barclays current account and they just wrote to her, offering to change it to a student account if she goes to uni.

isthatmorelego Fri 14-Apr-17 10:07:12

You are far from a shit parent just because you are doing what a parent should do helping him . DS is 23 and very independent but it's still Mam when he wants something .
Nationwide flex is a good account and to the person who said savings accounts don't have debit cards nationwide do .

dementedpixie Fri 14-Apr-17 10:12:02

Is it not a cashpoint card rather than a debit card?

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