There are different ways that you can ‘save’ money, ranging from a piggy bank on your windowsill to opening an account with a Bank or Building Society.
Opening an account – this can be with a bank, building society or the post office. There’s no legal age limit at which you can open a bank account, but the bank has the right to decide to allow you to open an account. There could be restrictions on opening some types of accounts.
Your bank, building society or post office will have information on what accounts they can offer to young people under 18. Shop around and find out what’s the best for you. Does the account earn interest? Will it give you a cash card? What do you want an account to do for you?
If you are in further education or planning to go to college or into work based learning you’ll need a "basic" bank account so that you can apply for an Education Maintenance Allowance. Similarly if you are at university you’ll need a bank account to manage your student finances.
Once you get a job the chances are your employer will prefer to pay wages into an account rather than paying you in cash.
The BBA has information on about opening a bank account.
You can use the library in your Connexions Centre too as it has information for you to read or take away. Go to Weblinx for more useful websites.