The best current accounts for teenagers

Banks are falling over each other to lure in teens – which means there are perks on offer

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Last week Nationwide joined the banks and building societies targeting younger customers by launching a new teenage current account – FlexOne. Secondary school age children are an attractive prospect for banks. They may not be ready to take out numerous financial products but hook them young and they are likely to stay with a bank for decades to come.

There is a huge amount of inertia among bank customers. Once we have opened a current account most of us don’t switch banks and tend to get all our financial products (mortgages, loans and savings accounts) from the same bank. So, get a teenager to open an account with your bank and you could have a customer for decades to come.

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