Which bank provides the best teenage bank account?

Are you a teenager looking to set up their first bank account? Most financial institutions will roll out the read carpet for you to set up your teenage bank account as statistics show you will likely stay with that bank for life. We have taken a look around the market to find the best deal currently being offered by a bank, so lets take a look.

Some banks offer accounts to children as young as just seven years old. We are going to take a look at one specially tailored for teenagers though, and this one is HSBC's "My Account", which is targeted at 11-17 year olds. This account comes with some unbelievable perks, which we are going to take a look at now.

Upon signing up, you get your own ATM Card, you will get free withdrawals and the ability to check your balance at any HSBC cash machine. You can also get a debit card (with your parent's permission) that will allow you to do some online shopping. The good thing about this account is that it won't let you go overdrawn, so you can only spend the money you have in your account at the time. You can also top up your mobile phone at HSBC Cash Points using your MyAccount card.

Once you have finished school, the fact that you have had an account with HSBC will stand you in good stead as you will have increased options when it comes to Student Banking. They offer preferential loan rates, so make sure and check them out when you graduate.

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