THE U18 CASHCARD ACCOUNT FROM THE ALLIANCE & LEICESTER
Well if you are under 18, or your off-spring is, then you will be in the same position as me.
Living far from any branches of any banks it is difficult to obtain and pay in money and most banks don’t issue accounts to Under 18s.
My son is 16 and has amounted quite a bit of cash from gifts etc so I enquired at the village post office and it seems they are a number of banks/buildings societies offering their services from the post office.
The Alliance and Leister have an account called U18 CashCard Account available for 11 to 18 yrs although you have to be 16 to be eligible for a cash card, but you can still use the account to pay in and withdraw money from at any post office.
The interest rate is the highest I could find for Under 18 with access to cash from all post offices - for accounts with £1 to £499 Gross rate 2.75% for accounts with £500 to £1’999 Gross rate 3.35% for accounts with £2’000 + Gross rate 3.75%
All interest is calculated daily and credited to accounts monthly.
The U18 Cashcard Account also offers you:
24-hour access to your cash at over 35’000 cash machines Visa Electron on-line debit card (for over 16’s) under 16’s will receive a link cash machine card Interest on every penny in your account 24 hour telephone banking Free banking Access to cash abroad (will incur a charge of 1.5%) Standing Order and Direct Debit facilities
You also get 6 issues of a top magazine free, choose from Nintendo, J-17, Smash Hits, Match, Bliss.
When you are 18 the account will automatically adopt the tariff and interest rates of the Alliance Current Account.
You can access the site on www.alliance-leicester.com, which gives the option of accessing all the services that they provide.
There are better accounts but none that I have found for Under 18s and with the convenient option of using my local post office.
How helpful would this review be to a person making a buying decision? Rating guidelines
I'm under 18 and with NatWest, mainly because you get a Solo card which is a bit like a Switch. I've heard Nationwide offer good interest for under 18's 4.8% or something like that. :) Cheers, James.
Elainebaba 30.03.2002 16:56
Fro some reason I missed this op! sorry!
Avril
verysaltybits 30.03.2002 00:57
Be sure to only press your comment button once when leaving a message as I have noticed you very often press it twice. We are given points for each comment we make. This is a very good review
Mar 29th, 2002
very helpful by (85%):
helpful by (15%):
