Advantages Internet banking, telephone banking, customer service
|Efficiency of service|
|Competitiveness of charges/rates|
|Promptness of service||Good|
|Online - Content/organization of site||Excellent|
|Online - Reliability/speed of site||Excellent|
|Online - Ease of applying for products||Average|
Author's newest reviews
Bank Account for 16-18 year...
There are so many banks to choose from when opening your first bank account, offering a range of services, but I believe that the HSBC Right track account is a fantastic account, which is far better than the rest.
The account only takes about 15 minutes to open, provided that you have brought sufficient ID with you, and you only need £1 to open it.
A few days later you will recieve a SOLO debit card, PIN, and a cheque book (if requested when opening your account), all fairly standard for most of the bank accounts for 16 year olds.
From my expirience, SOLO cards are much more widely accepted than Electron cards, and the beauty is that you can only spend the money that you have in your account (whether you use ATMs or use your card in shops), because all transactions are authorised by the bank.
Although I was quite happy using my SOLO card, or cash if i needed to, i decided that i wanted a card that would be accepted everywhere (a lot of places still don't accept solo), so i went to my local branch to see what they would say about giving me a Maestro debit card.
I was actually surprised that HSBC let me have a Maestro card, which doubles up as a £100 cheque gurantee card, when i am only 16. When i applied for a Maestro card, they asked some questions about regular income, and as long as you can prove have a regular income they will issue you with a Maestro card.
Maestro is accepted in nearly every shop in the UK, and in most shops abroad where the cirrus sign is displayed.
The only downside about having this new card is that i am able to go into debt with the bank, as my cheques are guaranteed, and when i use the card in a shop, the payment is not immidiatley authorised by my bank, which means that the money can come out of your account whether you have the money there or not.
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