13 March 2010 :
Compare Credit Cards, Pet Insurance and Savings Accounts
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Did you know?
The number of credit cards in issue at the end of October was 66,555,000, of which 63.6% were active.
Source: British Bankers' Association (www.bba.org.uk)
Young Persons' Accounts
A young person's account is, as its name suggests, a current account specifically aimed at young people. Across the various banks that offer a young person's account one of the things that differs is the age range that constitutes a young person. Some banks offer their young person's accounts to 16-19 year olds, some 16-21 and some even 11-18. Read more...>
Types of Young Persons' Account
These accounts give the bank a chance to attract a new customer who may well be with them for life so incentives and gifts are usually a part of the introductory offer.
If there are overdraft facilities at all on a young person's account they will generally be limited. Not all young persons accounts offer cheque books but some do if required. In most cases a debit card and the chance to set up direct debits and standing orders will be part of the account features. Many of these type of accounts feature the chance to earn higher interest on larger amounts in the balance. Statements will be provided in order that the new customer can keep a track of their money and transactions.
The incentives and gifts offered tend to be aimed towards the younger age group, perhaps money off vouchers for books, CDs and videos or discounts in certain shops. They often include pens, folders and key-rings as well at the time of signing for the account.
Top Tips for Young Persons Accounts
- Don't be too influenced by the introductory freebies, make sure the whole account gives you what you want
- Compare the different offers by different banks and choose the one that suits you rather than the one that is advertised the most
- A young person's account could be the start of a long relationship with your bank but you aren't obliged to be tied to it for life
- See if the young person's account offers interest on your balance and if it increases with how much you have
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Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.