Bank accounts are a good way to help you manage your money. You’ll need to have a bank account to go to college, university or go into training or get a job, so it’s best to open one as soon as you can.
There’s no legal age limit at which you can open a bank account, but the bank has the right to refuse your application - there could be restrictions on opening some types of accounts.
Here are a few tips on what to do:
- You can open an account with a bank, a building society or the post office
- You often don’t need to pay in any money to set up an account, or perhaps just £1.00.
- You will need proof of identity.
Usually the bank will ask to see something like your:
- Birth Certificate or
- Passport or
- Driving licence
- And a household bill (where it's addressed to someone with the same surname as you).
Your bank will be able to tell you what they need. Don't worry if providing this kind of proof is difficult as the bank may accept something else such as an original letter or statement from a responsible person who knows you, like a social worker, teacher or Personal Adviser.
Bank Accounts are also a good way to save money, so if you've not already got a bank account set one up now! You will be able to:
- pay money into your account
- get cash out by card
You don't get a cheque book, and can't get overdrawn.
There’s more information about bank accounts at the Money Advice Service.
You can use the library in your Connexions Centre too as it has information for you to read or take away. Go to Weblinx for more useful websites.