Sometimes I really wonder

[seb1]

DD1 has a bank account any spare birthday money goes into and she has just turned 11 (yes 11). Based on all the current discussions of young people's attitudes to money etc and how we need to change this, I got a letter from the bank asking would I like her to have a cashcard so she can access her money easily. Is it me or are they trying to reel them in early.

A cashcard isn't such a bad idea if you want children to understand about budgeting income and expenditure. It's usually older children that use them when, for example, they get an allowance to buy their own clothing with. Most of the young people cashcard accounts don't allow overdrafts or anything like that. If she just wants to save up spare birthday money and if you don't want her to have access, you don't have to take the card.

My ds has a cashcard from natwest thatvhe can use in shops as a debit card. He is 12 and got it at 11.

I pay his pocket money into his account and he uses it very wisely, he goes to the cinema etc with his mates and likes not carrying cash and feels grown up! He cannot use it if no money in the account and cannot go overdrawn so he has to plan ahead and its teaching him financial responsibility and budgetting skills

Have a look on moneysavingexpert.com and download the guide to money for kids/teens and give that to your dd, teaching them now is the best thing you can do

Dd1 has an account where ipay her pocket money for the month & has a cash card.
She also has a savings account I control. She is 11.

Dd2 just has the savings account until she is 11.