Starling Bank, the leading mobile-only bank, has today launched current accounts for 16 and 17-year-olds.
The accounts will have the functionality of a full current account, empowering young people to manage their money effectively and offering them unrivalled payment options including Apple pay, Samsung pay, Google Pay, Fitbit Pay and Garmin Pay. However, they will not be eligible for loans or overdrafts.
New customers will be able to apply to open their bank account in under five minutes directly from their smartphone, start spending immediately on their digital debit card, instantly track their spending or save for their next big purchase.
The account was designed to satisfy demand from young people for a full bank account. Customers can apply independently without involving their parents and without going to a branch and can be done entirely through the app.
Built by young people for young people
A leading member of the team behind the accounts was 17-year-old Lucas Johnston, who joined Starling from school and is now working to deliver product innovations across the bank.
Side by side payments
Starling also announced that they will now be using cutting-edge Google Nearby technology, which allows customers to pay or get paid by other Starling users if they're nearby. The technology takes the pain out of splitting the bill by seamlessly connecting Starling customers and allowing them to make payments in seconds - no sort codes or account numbers required!