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Bank Account Opening Advice for teenage ASD

Mummymole

Hi,

My son is 14 and has ASD.

I have recently tried opening an Under 19 Current Account for him but have been told I can't do it as he would need to attend the appointment, watch an introductory video and then sign the forms to say he understands and agrees to the terms and conditions of the account.  The bank in question (one of the main high street ones) has said that the only way round this is for me to get Power of the Courts (apparently Power of Attorney wouldn't be adequate, even if I had this).

I have looked in to Power of the Courts and it is really expensive to do.  Has anyone encountered this and have they found a way round I already have a savings account for him but he needs something that will give him a card to have immediate access to his money. Thank you in advance.

  • I went through the courts, so I can certainly say that this is not the most correct decision. Besides a lot of money you lose and a lot of time. There are much simpler ways, thanks to which you can have aces to your money. I in recent years [link removed by moderator]  it is convenient in terms of the fact that I can also pay salaries, taxes, fees to banks, but also I can control my money without having any impediment. I think this would be a solution for you as it is for me, but if you have a better idea please tell me too

    Edited by Clare Mod

  • Hi

    I also am trying to open a bank account for my 19 year old son but have issues as they say that he needs to understand the terms and conditions of the account.  He is verbal but has limited understanding of such things.  I know that he understands money and would be more than able to sensibly use a switch card.

    Did you manage to find a suitable account for your son? And if so, with whom?

    Thanks for your help with this.

  • Hi,

    I opened various accounts for my son whilst he was 14 & 15.

    Hsbc (my account) was straight forward as u had been banking there for over 20yrs - just needed his passport.

    Santander (123 mini & mini isa) & Nationwide (young person current & savings) required him to be there, but all we done was went in and I explained about his Autism, once they asked him if he was happy for me to open the account on his behalf and they check his passport & my driving licence, they let him leave with my wife.

    Halifax opened a savings account online, based on his passport and I think my driving licence. 

    We were using these different account to get him the best interest rates available as all his money saved since being a baby was in Lloyds with very little interest.

    I think that if you can explain things to the bank in advance then get your child to attend even briefly they will be pretty reasonable.

    Hope this helps

  • Mummymole said:

    Thank you trainspotter, hadn't thought of doing that, was trying to stay with the bank all of us currently use for ease, plus my son already has a savings account with them so would have made life easier. 

    Hi Mummymole

    Unfortunately you do not get anthing these days fo loyalty to a company or a bank - in fact it is often the reverse, you are exploited because of it.

    Whatever course you choose, it should be easy to set up a facility to exchange money from one account to another.  Bank transfers are fast these days and withdrawls can be to an account of your choice. 

    Hope you get something sorted

  • Thanks Curious, I could open an account online but my son would still have to visit the branch to sign terms and conditions which presents two problems, one he doesn't have a signature and two he isn't able to understand the terms and conditions.  

    Thank you trainspotter, hadn't thought of doing that, was trying to stay with the bank all of us currently use for ease, plus my son already has a savings account with them so would have made life easier.  Going to visit some other high street banks during the week and see what their procedure is.  Just find it ridiculous that because our children are "special" they aren't entitled to all the things of other children without their parents having to fork out a fortune for the basic rights.  (and breathe, rant over lol).

  • Trying to think round this one, why not get an account in one of those supermarket banking accounts with instant access.  You just pay money in at any time and can draw it out via the cashpoint.

    I know it is not the same thing, but you could just make the account in your name and give the card to him.  You cannot draw more money out than in the account so there is no problem with him overdrawing.  They also allow a parent to open the account for someone under sixteen, but I would imagine the card is still in the parent's name.

    I know the supemarket where every little helps has such an account.  (Instant access savings account).  The interest rate is a bit of a joke (.25%) so you are not going to get rich on the interest.  You can open it with just £1.  Pay in and draw out at will.  You will get a "Link" card and can draw up to £300 per day.

    Good luck!!

  • Have you looked online? I have quickly checked one building society and from age 14 it is possible to apply online for a current account. I haven't named the building society, lest it be deemed advertising or a recommdation. Anyway, you could try the website for the bank where you tried visiting in person. If they don't offer online applications for 14 year olds then you know that by checking other banks or building societies there is at last one out there with online applications.