Barclays Young Person’s current account review
Considering opening a current account for your teen? Find out how the Barclays Young Person’s current account works.
|Account name||Young Persons Account|
|ATM withdrawal limit||£500|
|Card type||Cash / Debit|
|Minimum eligibility age||16 Years|
|Minimum operating balance||£1|
|Minimum opening balance||£1|
|Current account switch guarantee|
This review looks at the Barclays Young Person’s current account in detail.
What is the Barclays Young Person’s current account?
The Barclays Young Person’s current account is designed for 16- and 17-year-olds. It has no monthly fee and comes with a contactless debit card. Account holders can also use Apple Pay and Contactless Mobile to pay for items with their phone.
How does it work?
The key features of the Barclays Young Person’s current account are outlined below:
- No monthly fee. There’s no monthly maintenance fee with this account.
- Design your own card. Account holders can design their card using their favourite photo.
- Cash withdrawals. Withdraw up to £300 a day using the debit card at ATMs.
- Manage your money on the go. The account can be managed via the Barclays app.
- LifeSkills. Access to a range of tools, tips and interactive resources to help your child build money and employability skills for the future.
Who is it for?
The Barclays Young Person’s current account is for 16- and 17-year-olds. It’s designed to help young people develop good financial skills and learn how to manage their money.
What are the benefits?
There’s no monthly fee with this account, plus your teen can design their own debit card and manage their money on the go via the app.
How to apply
If you, as a parent or guardian, bank with Barclays, your teen can open their account via video banking. You will need to download the video banking app and make the call to Barclays, but your teen needs to be present and have their passport or birth certificate to hand.
If you don’t bank with Barclays, or you don’t have the app, your teen will need to apply in branch. They will need to bring their ID (passport, national ID card or birth certificate), and you as their parent/guardian will need to bring either of the following:
- Your debit card and PIN, or proof of ID if you bank with Barclays
- Your proof of ID and proof of address if you don’t bank with Barclays.
Is it safe?
Yes, Barclays is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. This means eligible deposits will be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person.
Overdrafts are not available for under 18s, so there’s no need to worry about debt.
Pros and cons of the Barclays Young Person’s current account
- No monthly fee
- Your teen can design their own card
- Easy to open via video banking if parent/guardian banks with Barclays
- FSCS protection
- Easy to manage via the app
- Access to LifeSkills tools
- Account must be opened in branch if parent/guardian is not a Barclays customer
- No interest paid on balances
Our verdict: Is the Barclays Young Person’s account any good?
This isn’t a bad little offering from Barclays if you’re looking for a bank account for your teen. There’s no monthly fee to worry about and your child can even design their own debit card. What’s more, they’ll have access to Barclays LifeSkills, which can help set them up for the future.
However, remember that this account is only suitable for 16- and 17-year-olds. If your child is younger than this, you might want to look at the BarclayPlus account, which is designed for children aged 11 to 15.