youthmoney

“If you’ve grown out of putting money in a piggy bank, it’s likely that you’re ready to open a current account.” Oh dear. Who talks to young people like this? The government does.

Its advice for young people on opening bank accounts blathers on, urging shopping around and other vague notions. Do they really think it’s so simple?

For over a million 16 to 24 year olds in the UK who are not in education, employment or training, it ain’t such a breeze. But there’s nothing on directgov telling you what to do if you are humiliatingly brushed aside when you say you don’t have a driving licence, passport or recent utility bill in your own name at an address you’ve lived at for some time. Or if you just look like a low net worth individual and therefore not someone the banks want to be associated with.

A bit of grown up and realistic advice for young people on low incomes would be welcome—and without mentioning piggy banks.