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Financial estb that offers a debit card for under 18’s

  • 26-04-2019 11:54am
    #1
    vicwatson
    Registered Users, Registered Users 2 Posts: 28,404 ✭✭✭✭


    Is there any financial institutions that offer debit cards to u 18’s or is it possible to get extra cards on a current account which u 18’s can use with your permission?


Comments

  • #2
    .G.
    Registered Users, Registered Users 2 Posts: 5,415 ✭✭✭.G.


    Adapt account with Ulster bank. My son has one. There may be others.


  • #3
    Delta2113
    Registered Users, Registered Users 2 Posts: 2,736 ✭✭✭Delta2113


    https://www.permanenttsb.ie/everyday-banking/current-accounts/teen-account/ - look's a good option.


  • #4
    phone2000
    Registered Users Posts: 81 ✭✭phone2000


    Heard a few ads on the radio for these:

    https://www.makescentscard.com/


  • #5
    danm14
    Registered Users, Registered Users 2 Posts: 218 ✭✭danm14


    phone2000 wrote: »
    Heard a few ads on the radio for these:

    https://www.makescentscard.com/

    That looks like a (legal) scam to prey on concerned parents who want their children to have a bank account, but are wary of their children buying things that they shouldn't.

    They charge colossal fees - €5 to sign up, then €4 per month, plus €1.50 per ATM withdrawal (with a maximum daily withdrawal of €150). There's even a €20 fee for withdrawing money off the card to a bank account. That's €71 in fees for the first year, assuming a monthly withdrawal (rising to €135 with weekly withdrawals).

    It then goes on to claim that "merchants unsuitable for any person under the age of 18 will automatically be blocked". That in itself is a good idea, but how far does it go? Does it include the likes of GameStop or CeX in case they buy an 18 rated game? What about Tesco or Dunnes in case they buy cigarettes?

    The cynic in me thinks it looks like a system where you put your money in, and then it's nigh on impossible to actually spend it, so you have to pay the withdrawal fees - all conveniently marketed as being in the interests of child protection.

    ---

    All of the main four Irish banks give debit cards to children over a reasonable age (ranging from 11 with UB to 14 with BOI). BOI will give an ATM card to those under 14.

    UB don't need parental permission but notify parents of the account for under 16s. AIB and PTSB need permission for under 16s. BOI seem to want the parent to open the account for the child regardless of age.

    None of them charge any fees to under 18s, and AIB even refund the government stamp duty.


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