Choosing a Bank

Banks are falling over themselves to sign up teenagers and students because of 2 things a) APATHY - people don’t shop around for banking services and b) HABIT – people vary rarely leave their bank.

Don’t fall into this trap…

Things to remember

• Find out who your parents or friends bank with
• Look at The Post Office or a Building Society (which is owned by its customers).
• Is the free gift useful to you – don’t be blinded into taking out an account
• Check for hidden charges
• Loyalty doesn’t pay and won’t get you better service

Don’t be surprised from the age of 18 to be “targeted” with new products and services from your bank. They are looking to make their money out of you now through mortgages, loans etc. As long as you shop around for what you want there is no harm is seeing what they can do for you – just don’t get sold something you don’t want or need.

Setting up a Bank account?

It is easiest to set up a new account by going into a branch but it can be done online or over the phone. You will need a passport or birth certificate to prove who you are and set the account up.