Best Youth Account 2014

Teenagers who are starting to earn - and spend - their own money will start needing more from their savings account. In addition to a decent rate of interest on money they are saving, they will also want to be able to access their spending money with a cash card.

For the second year in a row, the winner is the Santander 11-15 account, which pays 3% AER on balances up to £500. Requiring all account holders to pay something into the account each month - even if it's only £1 - encourages youngsters to bank some of their cash. "Although this is a current account, it pays a really good rate of interest, so is like a savings account," says judge Anna Bowes, director of We simply cannot ignore an account that offers a debit or cash card while paying such a competitive rate."

Yorkshire Building Society's Freedom Account takes the runner-up position, paying 1.75% AER. "This is simply the account paying the best rate after Santander, with a cash card," she adds, "and the rate has remained unaltered for many years."


Best youth account 2014

11-15 Current Account
Current rate: 3% AER up to £500
Age range: 11-15
Other features: cash card, online and mobile banking
Notes: Must pay some money into the account every month
Contact: 0845 609 0014


More about