A UK-based mobile-only challenger bank is offering current accounts to 16- and 17-year-olds. Google’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, Starling Bank, Fitbit and Garmin payment systems and will be using Starling Bank Nearby technology to allow 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.