Under 19s Account. A good choice A great start

Transcription

1 Under 19s Account A good choice A great start

2 Looking after your own money is a big step. So it s a good idea to choose a current account that will start you off on the right foot. Our Under 19s Account comes with a bank card and easy-to-use features, making it simple for you to access your cash and keep track of your spending. Plus it grows with you, getting you ready for whatever exciting plans you have.

3 Contents Under 19s at a glance 4 Choosing the right card 6 Over 16s features 11 Banking your way 13 Open an account 17 Jargon buster 21

4 Helpful banking Handy features Our Under 19s Account has a lot to offer, however some of the benefits are only available once you re 16 or above. Have a look at the table below to find out what you can take advantage of and when. Under 19s Account Feature years old years old Access to Telephone Banking (available to customers aged 16+) Ľ ĩ Access to Mobile Banking app and Internet Banking Services ĩ ĩ Access to branches and ATMs ĩ ĩ A variable credit interest rate of 0.50% AER (0.50% Gross) on credit balances between 1 and 2, Regular statements ĩ ĩ Mobile alerts ĩ ĩ Save the Change (available to customers aged 16+) Ľ ĩ Driving School discounts (available to customers aged 17+) Ľ ĩ Everyday Offers (available to customers aged 18+) Ľ ĩ ĩ ĩ 4

5 All you need to make banking easy The Under 19s Account is a great way to look after your money. As soon as you open your account you ll get: Choice of a: Bank of Scotland Visa debit card that you can use to pay for things in shops, on the Internet, or to access your money at ATMs. Or a Cashpoint card for accessing your money at ATMs only. Access to a wide network of branches and Cashpoint machines so you can access your money easily and quickly wherever you are. Earn a variable rate of interest, paid quarterly, of 0.50% AER (0.50% Gross) on credit balances between 1 and 2, * We do not pay credit interest on amounts of 2,500 or more. Access to our Mobile Banking app, which you can download from the Apple App Store or Google Play. (Our Mobile Banking app is available to customers from the age of 16.) Regular statements. Our mobile alerts service offers a simple way to stay on top of your finances without even having to think about it. So if we have a mobile number for you, we ll help you keep an eye on your balance. We don t charge you for Mobile Alerts but your Mobile Operator may do, so please check. * AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs. 5

6 Cashpoint card or Visa debit card? Our Under 19s Account offers a Visa debit card to anyone aged 11 or over, or a Cashpoint card if you decide that is right for you. Our Cashpoint card. If you only need a card to access money at cash machines, our Cashpoint card gives you access to a large and accessible ATM network in the UK and abroad. With your Cashpoint card you can withdraw up to 200 a day from a Bank of Scotland Cashpoint machine free of charge or from LINK cash machines (a charge may apply). Things to be aware of. With our Under 19s Account Visa debit card it s easy to make your everyday purchases, whether it s cinema tickets, lunch or stationery supplies. However, some transactions, like gambling, may be inappropriate for your age group, so your card comes with added functionality and will block your purchases in some shops or on some websites that it recognises as being potentially unsuitable. This means that occasionally it may not work for some of your other purchases because it thinks they are unsuitable too. If you want to change your card to one that doesn t have this added protection you can ask for a replacement card in branch when you turn 16. 6

7 Or you can use our Visa debit card... A A In shops, over the phone and online (your Visa debit card won t work in some retailers or on websites that aren t suitable for your age group, such as gambling sites). To take out up to 500 a day from any of our wide network of Bank of Scotland Cashpoint machines free of charge or from LINK cash machines (a charge may apply). You can also take out up to 300 a day from Post Office branches. Your Visa debit card is designed so that if you want to buy something and there is enough money in your account, everything will go through automatically. If there isn t, you shouldn t be able to buy the item to make sure you can t spend money you don t have. In the extremely unlikely event that something goes wrong and you spend more money than you have available in your account and go overdrawn by mistake, you won t be charged any daily arranged overdraft fees and we ll work with you to make sure your account is put right. Ways you can use our cards Cashpoint card Visa debit card In shops Ľ ĩ Online Ľ ĩ ATM ĩ ĩ To get cashback Ľ ĩ Over the phone Ľ ĩ Abroad* ĩ ĩ * Charges apply see Banking Charges section in the Bank Account Conditions At ATMs only. 7

8 Using your Cashpoint or Visa debit card Information that appears on your Cashpoint or Visa debit card. 1. Valid from This is the date you can start using your card. 2. Expires end You won t be able to use your card after this date but we ll automatically send you a new one before then. On the back of your Visa debit card. You ll find seven numbers on the white signature strip where you sign your name. The last three digits of this code are usually needed when you shop online or over the phone. This code is sometimes described as your security code or CVV2 code. Bank of Scotland Cashpoint card 3. Sort code This is the code that identifies your branch. 4. Account number Your unique eight-digit account number will appear here. 5. Card number This is the unique long number across the front of your card. 1 2 Bank of Scotland Visa debit card

9 Ô Top Tip. Your PIN is secret we recommend you don t write it down. You must never give your PIN to anyone else including bank staff and the police. Remembering your PIN. With your card comes a PIN (Personal Identification Number). When you pay for something in a shop or take out money from a Cashpoint, you will need to type in your PIN. If you re finding it hard to remember the one we ve given you, then you can change it to one that s easier to remember. To change your PIN visit any Bank of Scotland Cashpoint and insert your card and current PIN. Then select PIN services and follow the on-screen instructions. If you ve got the Mobile Banking app, you can use it to request a new PIN. Chip and PIN. Chip and PIN is when you enter your PIN into a keypad when you use your card to buy something. Using it is simple: Insert your Visa debit card into a card reader or PIN pad and check the amount. You ll still need to sign for some of your purchases, instead of using chip and PIN. For example when you re travelling abroad or where a retailer hasn t yet upgraded to chip and PIN. If your card is lost or stolen. Your Visa debit card or Cashpoint card is much safer to carry around than cash. But you must report any theft or loss of your card as soon as possible so that we can prevent other people from using it. Call into any Bank of Scotland branch, or call the Bank of Scotland 24 hour Lost & Stolen Cards service on , in the UK, or (+44) from abroad. We will usually send you another card within three to five working days. Enter your PIN carefully and the machine will check it is correct, and print you a receipt. 9

10 Going abroad. If you have a Cashpoint card you can use it to take out cash from ATMs abroad. If you have a Visa debit card, you can use it to pay for things anywhere where you see the Visa sign, including shops, restaurants and cafés. It s more convenient and safer than carrying lots of cash around, plus you can withdraw local currency from any cash machine that displays the Visa sign. If you ve got the Mobile Banking app, you can use it to keep track of your spending while abroad. Charges apply when using your Cashpoint card or your Visa debit card abroad, please see our Banking Charges section in the Bank Account Conditions for details. Staying in control. Use Bank of Scotland Cashpoint machines 24 hours a day to check your balance or print a mini statement, to keep track of what you re spending. 10

11 An account that grows with you OVER 16s FEATURE When you turn 16 there are some other benefits and services you can use as part of your Under 19s Account including: Access to our Telephone Banking page 13 Continue to use Internet Banking page 13 Mobile alerts page 14 Driving School discounts worth over 75 (available to customers aged 17+) page 15 Save the Change which makes saving easy page 16 Unrestricted Visa debit card when you turn 16 you can ask us for a replacement Visa debit card that won t restrict your purchases depending on your age. Top up your mobile. To make life easier, you can use our free top up service for Pay as You Go mobile phones at any Bank of Scotland Cashpoint machine. Six pre-set amounts between 10 and 50 are available for the following networks: Orange, Vodafone, O2, Virgin Mobile, Tesco Mobile and T-Mobile. Your bank account will be debited in the same way as a cash withdrawal. Successful top up transactions will reduce your 500 daily withdrawal limit. The TESCO mobile top up service is not available at ASDA or Waitrose stores, or at our Cashpoint machines at BP or Texaco garages. 11

12 Over 16s features Everyday Offers. When you reach your 18th birthday, you can benefit from Everyday Offers. Everyday Offers is an online service where you can earn up to 15% cashback using offers at the types of places where you regularly shop. To register and see any offers waiting for you, log in to Internet Banking and select Everyday Offers. As you get older. In the year of your 19th birthday, we will change your account to a Classic Account or similar account if we no longer offer a Classic Account. We will always write to you at least two months before to let you know what s changing. To be eligible for Everyday Offers you will need to be over 18, have a Bank of Scotland personal current account (excluding Basic Account), a Bank of Scotland debit and/or credit card and be registered for Internet Banking. To enter the It s On Us free draw, you will need to be a UK resident (excluding NI) registered for Everyday Offers for up to one week and to have activated the It s On Us offer. Merchant offers and cashback amounts vary and must be activated through Bank of Scotland Internet Banking. 12

13 Keeping track of your money It s your money so we ll do everything we can to help you keep track of it whichever way you choose to bank. Internet Banking OVER 11s FEATURE With just a few clicks you can: Check your up-to-the-minute balance. Pay your bills. Transfer funds between your Bank of Scotland accounts. Set up, view and cancel standing orders. Order your travel money. We send you regular statements through the post, but if you prefer to bank online you can have paper-free, online statements instead. How to register. Go to bankofscotland.co.uk or visit any branch. Mobile Banking app OVER 11s FEATURE Telephone Banking OVER 16s FEATURE Download the Mobile Banking app or log in to Mobile Banking through your mobile browser, using your Internet Banking details to: View your balance and transaction history. Transfer funds between accounts. Make payments to new and existing recipients. Pay a friend via your mobile with our Pay a Contact service. Download at bankofscotland.co.uk or your app store A fast, simple way to access your account, you can: Check your current balance. Pay your bills. Transfer money between your own accounts or to another person. Set up standing orders and check Direct Debits. Order your travel money. Call us on

14 Mobile Alerts It s important to monitor your account regularly to make sure you have enough funds to make any payments due. Our mobile alerts service offers a simple way to stay on top of your finances without even having to think about it. So if we have a mobile number for you, we ll let you know when: You re nearing your limit. We ll send a message when your balance falls below 50. You don t have enough to pay a standing order. If you re able to move your money from other accounts, you will have until 2.30pm (UK time) to pay in cleared funds in order to make any payments. You ve reached your limit. You will only receive this message once when you first reach your limit and have zero available funds. You can receive alerts abroad, but please check with your service provider for any charges you may incur. You can check if we have a valid number for you or set one up through Internet Banking, in a branch, or by calling us on If you don t want to receive alerts you can text STOP to to opt-out. If you opt-out you may miss important messages about your account so make sure you keep track of your balance and regularly check your statements through mobile banking, internet banking or phone banking. 14 Please note that although you can give us instructions 24 hours a day seven days a week through Internet Banking, Mobile Banking and Telephone Banking, some of those instructions cannot be processed until the next working day. For example, if the instruction is given after 10pm or at weekends or Bank Holidays. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information. We don t charge for Mobile Banking but your mobile operator may charge for some services, so please check with them. Mobile Banking App Available to Internet Banking customers with a UK personal account and valid registered phone number. Our app is available to iphone and Android users and currently requires ios 10.0 or above, or Android 4.4 or above, although the minimum operating system requirements may change in the future. Our app does not work on jailbroken or rooted devices. Device registration required. Mobile Banking services may be affected by phone signal. Terms and conditions apply. Calls may be monitored or recorded. Android/Google Play is a trademark of Google Inc. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Mobile alerts are sent throughout the day, 7 days a week including Bank Holidays. This is a free service for all eligible current account customers. We won t charge you for this service, but if you receive texts while abroad, your network service provider may charge you.

15 Extra benefits OVER 16s FEATURE Whether you re at school, college, or starting a new job, our Under 19s Account will help you take care of all your everyday banking needs plus there s a few extras thrown in too. Save up to with the Driving School. Money off driving lessons you can save 36 on driving lessons when you book your first block of 12 lessons that s 3 off each lesson. Free Pass your Test CD-ROM just get your driving lessons booked and receive a CD-ROM to help you learn, worth Money off Pass Plus after you pass, you can go on and save 20 off Pass Plus the DSA recognised qualification for practical skills of a more advanced level, such as motorways, night driving and driving on country roads. This qualification could secure a discount of up to 35% on your car insurance. Ā Call the Driving School on quoting BOSU192 to redeem these offers. Lines are open 8.30am to 8pm Monday to Friday and 9am to 5pm at weekends. learning to drive offer. This offer and any driving lessons purchased are provided by Automobile Association Developments Limited. Registered Office: Fanum House, Basing View, Basingstoke RG21 4EA. Registered in England and Wales No We do not accept liability for the provision of any services by the. We may change or withdraw these offers at any time, please check in branch to see what is currently available. 15

16 Save the Change OVER 16s FEATURE We know it s hard to save if you re at school, college or if you ve just started a job, but Save the Change is a simple way to put a little bit aside without even knowing you re doing it. Sign up for Save the Change and every time you make a purchase with your Bank of Scotland Visa debit card, provided your account is in credit, the difference will be rounded up to the nearest pound. This will then be transferred into an eligible Bank of Scotland savings account of your choice the next working day after the Visa debit card transaction has been processed and the money has left your account. Save the Change transfers can also be made from Bank of Scotland current accounts held by family members to your chosen savings account if they wish. You need to be aged 16 or over to register for Save the Change. If you re under 16 it s really easy for a parent or guardian to register their eligible Bank of Scotland account for Save the Change and nominate their extra change into your savings account. You ll need one of these accounts to accept your Save the Change savings; Access Saver and Young Saver. Ó Find out more Find out more in branch, at bankofscotland.co.uk/savings or call us on

17 Opening an account You only need 1 to open an Under 19s Account and you can call into any of our branches where we ll help you complete your application. You ll need to bring the following with you when you apply: One piece of ID from the list below, and Proof of your address, again from the list below. If you re under 16 you ll need to be accompanied by a parent or guardian, and they ll need to bring ID and proof of their address too. If you re over 16 you don t need to be accompanied. Which documents can you bring along? Current United Kingdom signed passport, or if you re older a photo driving licence, from one of the following countries: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden. Current passport with valid UK Visa issued by Australia, Canada, United States of America, New Zealand, South Africa or Japan. If you re under 18 we can accept other forms of ID, you will need to bring one document from each of the following lists: Proof of Identity UK Birth Certificate, your Medical Card/ certificate, National Insurance card/letter or Young Scots card. Proof of Address a letter from your school or an introduction from an existing customer, for example, a parent or adult family member who has an account with us. Please don t worry if you don t have any of these items, we may be able to accept other documents instead. Please check the following two lists. 17

18 Proof of identity. All other current signed passports with valid UK Visa. Current UK non photo driving licence. Benefits or pensions notification letter confirming your right to benefit. Blue Disabled Driver s Pass. Proof of address. Bank or building society statement (we don t accept Internet statements). Utility bill (such as a gas, electricity or landline phone bill) dated within the last three months. Local authority tax bill for current year. Benefits or pensions notification letter confirming your right to benefit (if not already used as proof of ID). Tenancy agreement issued by solicitor, housing association, local council or reputable letting agency. Please don t worry if you don t have any of the items above, as we may be able to accept other items. For more information ask in any branch or call us on

19 Managing your money ó Paying money in It s much safer to pay money in to your Under 19s Account than carrying cash or cheques around with you. There are lots of ways to pay in money you ll soon find those that suit you best. Ñ Paying in money at any Bank of Scotland branch Lots of people pay in over the counter, but to save time, you can use one of our depositpoints. Just use the special paying-in envelope and paying-in slip situated near the depositpoints. We can even send you a personalised paying in book with all your details to save you even more time just ask a member of staff for more information. You can pay in cash and cheques at any Bank of Scotland branch either over the counter or by using our depositpoint service. All deposits over the counter will be processed straight away. All deposits made in a depositpoint before the branch closing time will be processed the same working day. Any deposits using our depositpoints made at weekends will be processed the next working day. All cash will be immediately available when processed and cheques will follow normal clearance timelines. Please remember, weekends and Bank Holidays are not counted as working days. 19

20 z Taking money out of your account The minimum amount of money you can take out from a Bank of Scotland Cashpoint machine is 10. Alternatively you can use your Visa debit card to buy things in shops or online rather than taking out cash to do this. ė Keeping your account safe and taking care against theft and fraud Always be sure before you give your bank details to anyone else, that you know who they are and why they need this information. 20

21 Jargon buster Visa debit card A plastic card that can be used instead of cash when making a purchase. The amount spent is taken (debited) automatically by computer from your account. The Under 19s Bank of Scotland Visa debit card does not come with an overdraft facility. Cashpoint card A cash card allows you to draw money from cash machines (ATMs). Many banks set a daily limit as to how much you can take out, even if your account contains funds. Interest A proportion (or percentage) of money on top of an original amount. If you save money, you can often receive interest from the bank on the money you save. Cashpoint /ATM An Automated Teller Machine (ATM) is a cash dispensing machine (or hole in the wall ), which you find in many places including banks, shopping centres and railway stations. In order to be able to use an ATM you need a Cashpoint card or debit card and a Personal Identification Number (PIN). There is often a limit per day on your withdrawals. Credit If your account is in credit, it means that you have money available to spend. LINK cash machines LINK is a UK network of cash machines. You can use your Visa debit or Cashpoint card to take out money from cash machines where you see the LINK sign. 21

22 Debit Money which is taken out of an account is debited from that account. Direct debit This is an arrangement where the bank releases money from your account to pay bills automatically. The organisation you are paying can change the amount of a Direct Debit, but you are told in advance how much it will be. If you set up a Direct Debit to pay household bills you usually receive a discount, and it means that you don t have to worry about sending off a cheque each month. Going overdrawn When you spend more money than is available in your account this is called going overdrawn. Balance Is the amount of money you have in your bank or other account at any time (or the amount you owe on your credit or store card). It will be shown on your statement. Balance brought forward is the balance that was left at the end of last month. Standing order A way of paying regular amounts automatically which you set up yourself (as opposed to a Direct Debit which is set up by the organisation you are paying). Once set up, the bank will pay the agreed amount of money on a regular basis to a particular person or company. 22

23 Important information Our promise is to do our best to resolve any problems you have. If you wish to complain visit your local branch or call or (Textphone or , if you have a hearing impairment). For more information visit bankofscotland.co.uk/contactus/complain The Post Office and Post Office logo are registered trademarks of the Post Office Ltd. Cashpoint and Save the Change are registered trademarks, and depositpoint is a trademark, and used under licence by Bank of Scotland plc. Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service. Eligible deposits with us are protected by the Financial Services Compensation Scheme. We are covered by the Financial Ombudsman Service. We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: Bank of Scotland plc, Registered in Scotland No. SC Registered Office: The Mound, Edinburgh EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number All information correct as of October

24 ĀĀ G Get in touch Lines are open 7am to 11pm, 7 days a week. Visit your local branch If you d like this in another format such as large print, Braille or audio CD please contact us. If you have a hearing or speech impairment you can contact us using the Next Generation Text (NGT) Service (available 24 hours a day, 7 days a week) or via Textphone on (lines are open 9am to 5.30pm, 7 days a week). If you're Deaf and a BSL user, you can use the SignVideo service available at bankofscotland.co.uk/accessibility/signvideo 1/ (10/18)