Skip to main content

Compare  Current Accounts for Teenagers

Santander

1|2|3 Mini Current Account - High interest for under 18s
Santander logo
Switch Guarantee
Eligibility

UK resident.

13-18 years old

Card Type
Visa Debit
Interest Rate (AER)
3.00%

3% AER/2.96% gross (variable) on balances from £300-£2,000. No overdraft facility. Under 13s: account must be opened in trust and managed by an adult. Cashback can only be earned for accounts not held in trust when the account holder turns 16.

  • Current Accounts
  • FAQs
  • Guides
  • Who we work with
  • Compare Under 18 Current Accounts

    Have you been looking for a current account for a child under 18? These accounts are a great way to allow a child to become more independent and manage their own money, without putting them at risk of stacking up debt at such a young age.

    These restricted accounts are widely available from major banks and building societies, but will often need the consent of a parent or guardian if the account includes a debit card for them to spend on. As the child gets older they will often gain access to more facilities to allow them to manage their money and spend responsibly.

    What is an under 18 current account?

    An under 18 current account is designed for young people to learn about money management from a young age, without putting them at risk of getting in debt.

    Depending on the account provider, you can often get a current account suitable for 11-16 year olds or a current account more appropriate for 17-18 year olds. The difference is that the older under 18s account will have access to a cheque book, as well as the ability to set up standing orders and direct debits.

    What is the best under 18 current account?

    You will often find that under 18 current accounts are fairly similar, though there might be a few perks that will appeal more to the holder of the account. Some of the things you should watch out for include:

    • Age range – check the age range of the account to make sure the account holder meets the criteria
    • Interest rate – you can also compare interest rates so the account holder can earn interest on money they deposit
    • Perks and rewards – with some current accounts you can pick up perks such as discounted driving lessons or rail travel that will appeal to the account holder

    Overall, you should find an account that offers adequate security for your child’s finances so they can become more independent and manage their money effectively, without the risk of hidden charges that can accumulate debt.

    How do I apply for an under 18 current account for my child?

    For a child aged 11-16, a parent or guardian will have to apply for the current account on their behalf, as they aren’t old enough to do it themselves. You will need to enter the details of the child when applying, alongside your own details as parent or guardian. You may even have to provide identification for the child you’re applying for as well.

    Those children over the age of 16 can apply for a current account with less restrictive options to spend, and won’t need a parent to apply on their behalf.

    Our current account providers

    We work with a huge range of providers to give you a wide selection of current accounts to choose from, ensuring you can find an account that will assist you in managing your money.

    Each provider is screened to make sure they meet our high standards before we agree to work with them. This ensures that you can trust them as much as we do, allowing you to find the best product from a reputable source.

    We have a wide range of current accounts from high street banks with thousands of branches to smaller challenger banks whose app-based current accounts can be accessed quickly and easily.

    Whether you are looking to switch to a standard current account, or find a student account with a free overdraft, you can easily browse our products and start comparing them today.

    Have a look through our list of providers to find the right current account for you.

Witness the wisdom

The Guru’s Virtues

Money Guru is an unbiased comparer of loans, credit cards, mortgages, current accounts and credit reports. A man with the power to search the market in seconds, without breaking a sweat.

  • Revealing the market’s most righteous deals
  • Sharing knowledge, wisdom and insights
  • Being truthful and transparent at all times
  • Helping you make enlightened decisions
  • Keeping things simple and straightforward