To ask if your child has a debit card?

[OriginalGeordie]

DD1 aged 13 has asked us for a debit card as she says that she finds she goes through cash like water and if she had a debit card there would be less of that. I’m inclined to agree with her and think she’s being very sensible. It would also be a little easier as we can just set up a standing order to put her allowance in each month. Just to add that she does have a savings account but would want to keep the two separate.

Just wondering what the general consensus was among those of you who do this already? Any recommendations on accounts? I think we want to set up a junior current account as opposed to a pre-paid card. Thinking of getting a pre-paid card for my 10 yr old though. So AIBU to set this up, if so what are the pitfalls if any.

You don't need to use a paid one like Go Henry. Natwest offers the same for free. My 13 has an account and a debit card (no contactless). He gets a text every Saturday with his balance, can use the online app and gets a paper statement every month.

Yes we've got the Lloyds one for dc 14 and 13, it's fab for all the reasons mentioned and it has made them save more. They love to check the balance. It's great if they're out and you suddenly need them to get something for you as you can top it up.

Lloyds is quite security conscious,it froze all ds's online shopping when he tried to spend his bday money in Apple. Was a bit annoying but got sorted quick,was good in a way I guess.

Lloyds is completely free and they can't go overdrawn.

Mine have had Barclays accounts from age 13. Debit cards are handy as you can transfer cash to their cards in minutes if they have an emergency while out, or are away and get caught short, from my Barclays and Lloyds accounts. Mine only use cash for bus fares nowadays.

We have Go Henry. I like the parental control of it and being able to see when they've used it.

I don't pay a monthly fee though, that I'm aware of at least. We've had it a few years though so maybe that's a new thing.

There's no minimum term for goHenry and it was really easy to cancel DS2's in the summer - just sent them an email. I do really like it (and I much prefer having been able to pay them pocket money by transfer - I haven't had to pay them cash since DD was 6!) but I can't justify paying for it once they reach 11 and can get an account for free.

DD loves hers though - she probably gets the most use of a physical card because she likes buying doll clothes and similar. She's currently saving for a big holiday next year and she's enjoying watching her balance go up on that goal as well.

Ours have had bank accounts with debit cards since they were 12. We put money into it every month and they can add in birthday money to spend/save as they wish. They have savings in another account that they can't access without a pass book.

Their debit card they use for cinema/games/milkshakes/hot chocolate when they're out with friends, or larger purchases that they've saved for. We find it works really well, teaching the principles of banking, saving and responsibility.

@OriginalGeordie I have a delivery address for each of them too (obviously all to our home address but with each of their names) so their parcels come addressed to them. It's just a little thing (and they don't buy a lot really) but they like it better that way.

Yes. 15 year old boy. Lloyds debit card

Nationwide's flex one account is good, they can't go overdrawn, they have the debit card or a cash card. They can have the internet banking and there is now an option to stop and replace lost/stolen cards on the online banking/app to save you waiting in the call queues to get it done over the phone.

I got both of my ds accounts with RBS when they went to secondary school. They got a debit card and I organised their allowance to be paid from my account by standing order.
When ds1 turned 18 the bank arranged for his account to be changed to a normal current account as opposed to the student one, but he didn’t need to do anything, so it was very straightforward. The same will happen for ds2.
It’s good for them to have their own accounts (separate from savings which they don’t get at), helps them budget, and ds2 had details ready when he got his first part time job.
It’s come in very handy for me over the years - ds2 will text when he’s in town to ask if I need anything picked up, I can text him back, transfer money to his account with the app on my phone, it’s there instantly, so he can pay with his card.....bobs yer uncle!

Oh, and they have online access to internet banking too.

Current account from age 11 give debit cards. Absolutely the way to go.

Go Henry is ridiculous for over 11's

I’m surprised go Henry even makes money why on earth would you pay for a bank account

Islet is much better and cheaper than Henry imo.

My 14yo does.
But I definitely would not get one because she's going through cash like water. Card is much easier to do that with. Sounds like a recipe for disaster.

My dd can't go overdrawn so no worries there.

I always think cash is much less likely to be burnt through so not sure the card will help there.

I agree go Henry is ridiculous for any child over 11

Also legally no child’s account can have an overdraft so you don’t need to worry about that.

DS got one at 12, it was both convenient and an excellent 'privilege' - had he abused the financial freedom he would have had the card removed (he has never abused it).

DD has told me straight out that she's not ready for that level of freedom or responsibility (I was very proud of her being so self-aware and we are working to help her develop the necessary skills)

yes, from 13yo, Santander. He's got £500 in there now.

My boys started with Nationwide but then found they could get better interest elsewhere! One with LLoyds and the other with Nat West if I remember correctly. Like everyone else, I paid in the pocket money and they could buy things on Amazon etc.
I think it is a sensible way for her to learn to manage her money and they are not allowed to go overdrawn, so fairly safe.
Neither had their student account with the bank they had their teenagr account though. (Although I was grateful DS2 had not closed his other account when Santender messed up his student account )

DD is now 15 and has successfully had an Osper card up until now. We’ve just opened a bank account as she is deemed sensible enough to use it. However the beauty of the Osper is that I can see what she is spending her cash on (if she’s buying lunch in the chippy every day 🙄) and of her card gets declined through lack of money I get a text so I can top it up if needs be.

My 11DS has a debit card.

His pocket money is paid onto it which he frequently complained I forgot ( probably reasonably) . I keep his debit card in my purse as he is still generally out with just me. It does mean the can I have tends to drop. He has also saved for bigger purchases which has reinforced saving for him.

I think the fact she goes through money like water is a concern as if she doesn't see what she is spending not sure how that will help ?

I can see people’s point about it being easier to run through than cash but my answer to that is that you don’t know DD1. She’s very careful with money and I think this will build on it especially having the bank app on her phone.

My 16 year old hates carrying cash so only ever uses his card/Apple Pay