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Under 19s Account

LLOYDS BANK CURRENT ACCOUNTUnder 19s Account

The easy way for 11-18 year olds to make the most of their money


 

Features and benefits

  • Easy access to your money

    Choose between a Lloyds Bank Visa debit card to withdraw cash and pay for things in shops and online, or a Cashpoint® card which is only for taking out money at cash machines.

  • Competitive interest rate

    Earn a great variable rate of interest of 2.50% AERCloseAnnual Equivalent RateAER (Annual Equivalent Rate) - the rate if interest was paid and compounded once a year. (2.47% grossCloseGross RateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.) on money in your account up to £2,500 and 0.10% AER/gross variable interest on amounts above this. Interest is paid quarterly directly into your account.

  • Manage your money

    Bank your way with Internet Banking, Telephone Banking, Mobile Banking, in-branch, and also get free Text Alerts.

Keep in mind

  • 11-18s only

    If you’re older, you may consider a Classic Account or a Student Account if you’re in full-time education.

  • No overdraft

    There's no overdraft available with this account. If there isn't enough money in your account, any transactions shouldn't go through, as this account is designed to make sure you can't spend money you don’t have. If something does go wrong and your account goes overdrawn by mistake, we won’t charge you and we’ll work with you to make sure your account is put right.

We’ll be making some important changes to our Under 19s Account from 2nd September 2016.

We will be reducing the rate of credit interest we pay on your Under 19s Account(s) from 2.5% AER variable (2.47% Gross) to 1.5% AER variable (1.49% Gross) for balances up to £2,500. You will also no longer earn credit interest on balances of £2,500 and over.

Debit card or Cashpoint card

11-15 year olds

Debit card or Cashpoint® card

    Choose between:

  • a Lloyds Bank Visa debit card, which you can use to pay for things in shops, on the internet, or to access your money at cash machines, or
  • a Cashpoint card for taking money out at any Lloyds Bank Cashpoint or other cash machines.

More about debit cards

Competitive interest

Competitive interest

As an Under 19s account holder, you will earn a variable rate of interest of 2.50% AERCloseAnnual Equivalent RateAER (Annual Equivalent Rate) - the rate if interest was paid and compounded once a year. (2.47% grossCloseGross RateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.) on balances up to £2,500 and 0.10% AER/gross on amounts above this. You will be paid this quarterly.

Banking your way

Banking your way

  • We have over 1,200 branches, so you'll find us in nearly every high street.
  • Instant access to your money 365 days a year.
  • Register for Internet Banking and manage your account online.
  • You can also register for Mobile Banking.

More about ways to bank

Text Alerts

Text Alerts

Sign up for our Text Alerts, which can help you keep track of your finances.

More about Text Alerts

Visa debit card

16-18 year olds

Debit card or Cashpoint® card

    Choose between:

  • a Lloyds Bank Visa debit card, which you can use to pay for things in shops, on the internet, or to access your money at cash machines, or
  • a Cashpoint card for taking money out at any Lloyds Bank Cashpoint or other cash machines.

More about debit cards

Competitive interest

Competitive interest

As an Under 19s account holder, you will earn a variable rate of interest of 2.50% AERCloseAnnual Equivalent RateAER (Annual Equivalent Rate) - the rate if interest was paid and compounded once a year. (2.47% grossCloseGross RateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.) on balances up to £2,500 and 0.10% AER/gross on amounts above this. You will be paid this quarterly.

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Get the chance to save up to £75.99 with the AA Driving School (if you're 17 or over). Save £36 on AA driving lessons and get a free Pass Your Test CD-ROM worth £19.99. After passing your test, you can get £20 off Pass Plus, the qualification for advanced practical skills. Terms and conditions apply.

Banking your way

Banking your way

Quick, easy ways other than in branch to manage your money 24 hours a day, 7 days a week, online or on the phone with Internet Banking, PhoneBank® and Mobile Banking.

More about ways to bank

Text Alerts

Text Alerts

Sign up for our Text Alerts, which can help you keep track of your finances. Limit Alerts tell you if you're near to or over your account limit. You can also get Balance Alerts that let you know when your balance is above or below a level set by you.

More about Text Alerts

Save The Change

Save the Change®

Register for Save the Change and make saving easy. When you buy something with your Lloyds Bank Visa debit card (and your account is in credit), the amount can be rounded up to the nearest pound, and the difference transferred to an eligible Lloyds Bank savings account.

More about Save the Change

Money Manager

Money Manager

Keep track of your spending and see at a glance where your money goes with our free Internet Banking service.

More about Money Manager

Interest rates

These interest rates are correct as of 23/11/2009. Interest rates are variable, and any interest you accrue will be paid quarterly.

Your balance

AER %

Gross %

£1-£2,500

2.50

2.47

£2,500+

0.10

0.10

Please note interest paid before 6th April 2016 will have been paid net (unless you registered the account with us to receive gross interest) .  Net is the rate of interest payable after allowing for the deduction of income tax at the rate specified by law (currently 20%).

From 6th April 2016 interest is paid Gross, meaning we will not deduct tax on your behalf. Dependant on your personal circumstances, tax may be due on your interest and it is your responsibility to disclose and pay any tax due directly to HMRC.

Terms and conditions

We’re making some important changes to our bank account terms and conditions. These changes will take effect from 2nd September 2016, unless stated otherwise. Please read the Guide to Changes section of the Personal Banking terms and conditions for more detail.

Personal Banking terms and conditions (PDF, 315 KB)

Under 19s welcome pack (PDF, 2 MB)

Banking charges guide (PDF, 184 KB)

Current account rates

Ways to apply - branch

Ways to apply

To open an Under 19s Account, you must be aged between 11 and 18.

In branch

Pop into any Lloyds Bank branch and our staff will be happy to help. In busier periods when staff may not be immediately available, we’ll be happy to book an appointment for a later date. You can also call 0345 300 0000 (+44 1733 347 007 from outside the UK) to book an appointment in advance. Lines are open 24 hours a day, 7 days a week.

11-15 year olds

A parent or guardian must be with you when you open your account or if you apply for more services.

16-18 year olds

You don't need to be accompanied by a parent or guardian, but you’ll need to bring:

  • Proof of identity (such as a passport or driving licence)
  • Proof of address (such as a National Insurance Number notification letter or a letter from your School/College/Educational Institution)

Find your nearest branch

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Useful phone numbers


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Important legal information

Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065 Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. We also subscribe to the lending code. Details can be obtained from www.lendingstandsboard.org.uk.Visit the Lending Standards Board website

Lloyds Bank plc registered office:
25 Gresham Street,
London EC2V 7HN.
Registered in England and Wales No. 2065.

We may monitor or record telephone calls to check out your instructions correctly and to help us improve the quality of our service. Calls from abroad are charged according to the telephone service provider’s published tariff. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information.