Children of Abbey’s
Launched today, the new youth account is for kids aged 11 to 18 and comes in response to the bank’s findings that high interest is the best incentive for young bankers.
Abbey says it is rewarding loyalty by offering the rate only to children of its existing customers.
Director of banking Steve Shore said: “Most kids let their parents set up a
He added that research showed young people to be “financially savvy” as just ten per cent of 11 to 15-year olds would choose a
Lloyd’s TSB has come under fire this week for providing debit cards to children without informing parents.
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