Natwest has launched a new current account aimed at 11 to 18 year-olds which enables them to create their own personalised cash card.
For a £5 charge, youngsters can get their favourite artists on their plastic cards by going to the Natwest Adapt account webpage and selecting the image they want from the online library. Popular choices include Lily Allen, the cast from High School Musical and The Thrills. And for those teens who are feeling even more creative, there is an option to upload their own artwork or photos of friends and family to adorn their cash cards.
The account has a AER in interest of 3.15% and hopes to give teenagers a sense of independence by encouraging them to manage their own money and provides a range of special offers such as free ringtone downloads when topping-up a mobile phone six times at any RBS, NatWest, or Tesco cash machine, two for one cinema ticket offers as well as providing a dedicated website to help unravel the complexities of money management as well as offering the chance to earn extra money by giving views and opinions on relevant topics for research.
Mark Worthington, Head of Natwest Youth Banking comments: “The earlier young people learn about managing money the easier it is for them when they become adults. This is an ideal age to learn about using a PIN to buy things, what a bank statement means and checking how much money is in the account before shopping. The Natwest Adapt account also pays an excellent rate of interest to encourage young people to keep putting money into their account.
“Also, along with personalising their ringtones, Facebook pages and clothes, now they can show their individuality by putting a favourite image on their bankcard, making having a current account more fun.”
The Solo cards, also available from The Royal Bank of Scotland under the name of RBS Revolve, can be used in cash machines and shops but prevent young people spending money that is not already in their account. Natwest banking online
and Royal Bank of Scotland online banking
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