A UK - based mobile - only challenger bank is offering current accounts to 16- and 17-year - olds . Starling Bank ’s offering will provide the functionality of a full current account , though it does exclude payment for loans or overdrafts . Starling believes the service will help teenagers gain financial independence as they enter or depart for the working world . The accounts support Apple , Samsung , Google , mobile and Garmin payment systems and will be using smart Nearby technology to facilitate smoother close - quarters transactions between customers .
A UK-based mobile-only challenger bank is offering current accounts to 16- and 17-year-olds. Starling Bank’s offering will provide the functionality of a full current account, though it does exclude eligibility for loans or overdrafts. Starling said the service will help teenagers gain financial independence as they enter or prepare for the working world. The accounts support Apple, Samsung, Google, Fitbit and Garmin payment systems and will be using Google Nearby technology to allow smoother close-quarters transactions between customers.