Parents - Bank accounts for your children

Lopéz

Lopéz

Lopéz

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Hi OcUK, this feels like a real Mumsnet kind of topic.

How old were you when you had your first bank account, and for those of you with kids did you make sure your kids had bank accounts?

What's brought this on is a recent couple of conversations with my sister about my 16 year old nephew, who I was really surprised to find out does not have a bank account, and she's never thought to do it or prompt him to set one up.

AIBU???
 
Opened accounts for both my kids when they turned 12. Both had a debit card.

At the same time we started to give them an allowance which allowed us to say "if you want it, you can buy it yourself" to any non-reasonable demand!
 
I got one not long after I started secondary school, some people from a local bank came to the school to encourage people to open acounts.
I think they even came to the school once a week so people could deposit their pocket money, the account came with card + cheque book + paying in book (90s)
Im not sure if debit cards existed back then? I think it was just a card you could use at ATM of your bank
 
My mother helped me open a bank account when I was in my early teens.

I seem to remember using a cheque book until I was around 16 when I got my first card.

My sister and brother in law opened accounts for their three kids when they were about 13, they actually paid their pocket money and money they'd make from doing extra chores/odd jobs into it rather than give them cash.
 
My parents set up Post Office accounts for us all when we were kids and then I think we all set up our own bank accounts when we were old enough to have proper ones. I remember going into the Midland Bank around the corner from the cinema in Harlow when I was about sixteen to open my first real account. I think they called them student accounts back then.

Lopéz said:
AIBU???
Click to expand...
I don't know what this means.
 
Griffin Saver account from fairly young and post office accounts, but had no debit card till an adult, didnt have those back in the day from what I recall.

My kids, 10 and 13 have savings accounts but I use Revolut child cards(just pre pay things) that I can top up for pocket money which they can use.
 
I can't remember what age I was but pretty young maybe 9 or 10, I had a Natwest savings account opened for me back when you got various pig character piggybanks and you got different ones depending on how much you saved. No cash card just a paying in book.

Wish I kept the piggybanks, they're actually worth something on ebay these days!
 
I had one from my 1st birthday I think (1979) , it was a paying in book only.
Moved it when I was 15.

Had my sons set up since birth, he's now 19.
 
Blimey didn't have a bank account until I was 18 or 19 or something like that it was a big deal going into a branch of Abbey National and sitting at a desk with the branch manager on the other side getting grilled.

Parents set up an account in my name when I was born but it was only a savings account and I wasn't even allowed to access it until I was 18
 
Had a building society account when I was at primary school and set up a proper bank account when I was 16. I recall having a bit of a faff later accessing the money in the building society account as my "adult" signature was rather different to whatever I had put on the form when the account was opened.
 
kiddo saves up money in account then i use cash to buy new gpu and tell him the bank was robbed and all your money gone.
this method wont work forever but make use of it while you can!!!
 
I had a bank account when I was about 10 or 11. It was so long ago that I got a cheque book with it! I still have that same account... My sprog opened a bank account with some assistance when 11. I would've insisted one was opened anyway as kids need to know how to use an account and learn to use it responsibly. I know a 24 year old who doesn't have a bank account. He missed out on a job because he didn't have one.
 
I didn't have a bank account until my late teens. I did, however, have accounts with the Post Office from the age of 13 - maybe 11, it's so long ago.
 
just opened a bank account for my 13 yo today as it happens, all done over the phone which was nice.

As a few places are card only these days then it made sense to do it sooner than later.

They've all had savings account setup since birth to put money into each month to give them a decent start when they turn 18 for a car or something (not a new car). Don't really notice the money going out each month but they'll appreciate it when they get it all I am sure.
 
Ours have always just because birthday cheques and such. Ours are locked right up they will need our signatures to withdraw. We've also set them up Go Henry cards which are nice for pocket money and such like.
 
VincentHanna said:
Yeah I'm sure back then you couldn't have a debit card until 16
Click to expand...
I did, but it was a Visa Electron, so was limited in certain ways that I definitely don't remember now.

OP, not having a bank account for your kids whne they're 16 is definitely weird. YANBAC.
 
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