Current account for 11-17 yr-olds gets 5 stars | Product News - Moneyfacts

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Current account for 11-17 yr-olds gets 5 stars

Current account for 11-17 yr-olds gets 5 stars

Category: Banking
Date: 29/10/2014

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Nationwide has unveiled a new current account designed for the younger banker that has scored full marks from Moneyfacts.

The basics…

FlexOne is available to applicants aged 11 to 17-years old and offers an impressive interest rate of 1.00% on balances of up to £1,000.

The finer details…

This account can be opened in branch or online and then conveniently managed online, in branch, by phone or by smartphone app. It will then be available until the current account holder turns 23.

There is no monthly fee or a minimum operating balance for this account, and there are also no fees for unpaid items. An overdraft facility is not available to applicants, although one can be arranged once the account holder turns 18. The account comes with a Visa debit card that allows withdrawals of up to £300 from an ATM.

Holders of this current account can benefit from exclusive access to the FlexOne Regular Savings Account, which pays 3.50% per annum. They will also benefit from discounted tickets (25%) from Vue cinemas for themselves and a friend or family member for one year.

Why we like it…

This deal offers a great interest rate on balances up to £1,000, which is sure to attract the savvy younger banker. The inclusion of a fully-functioning debit card, the option to introduce an overdraft at 18 years of age and the absence of fees for unpaid items make this an ideal first current account for the younger generation.

The highest accolade of five Moneyfacts Stars has been awarded.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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