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Banking guide for teens

Your parents or family may have set up your first bank account for you, but as you get older it's time to start being in charge of your own money.

Get the best deal you can — and independent advice

If you are not sure about any aspect of what's being offered by your bank, get independent financial advice from someone you trust before you sign on the dotted line.

Look for youth or tertiary accounts

Some banks offer specific youth packages — aimed at those at high school who may have started a first job or earn some regular income. Others offer more general accounts, perhaps with discounted fees and charges.

Most banks offer specialist tertiary student banking packages, which often involve overdrafts and credit cards — things which can be useful, but can also mean you pay interest and other charges.

Bank websites

Related websites

Updated August 2010