Teen Bank Account for Money Management |How To Manage Money - ARRO | Arro

Personal Customer Accounts  – Parental Control Over Children’s Finances 

Teens money management account

Give your children the chance to manage their own finances while still keeping some parental control with an Arro Personal Account, open to applicants UK resident and aged 18 or over.

The Arro Personal Account has no overdraft or credit card, and your child will not be offered a line of credit, which means you can make sure of how much money they can access at any one time.

With fast online approval, you can have an account number and a virtual MasterCard® Debit Card within minutes, all with no background credit check or prior banking history required.

Why is the Arro Personal Account good for parents?

The Arro Personal Account gives financial freedom to young people aged 18 and over who might not have had an account of their own before, or who might need a separate place to keep some day-to-day spending money.

It’s a great option for students and for people setting up home on their own for the first time, or for those who still live with their parents but are ready to progress from receiving ‘pocket money’ as cash each week.

You still have plenty of parental control – you can deposit into the account so you always know how much is available to your child, but managing that money is up to them.

It’s a best-of-both solution which includes:

  • Full account details including sort code and account number.
  • Full MasterCard® Debit Card details including 3-digit CVV.
  • Applications open to all over-18s resident in the UK, with quick approval.

How does an Arro Personal Account give control?

As a parent giving your child financial independence for the first time, there are some features of high street bank accounts that you might not want them to be able to access.

With an Arro Personal Account, they can make payments, set up standing orders and Direct Debits, and use their MasterCard® Debit Card to buy things online.

But importantly, an Arro Personal Account:

  • Does not come with an overdraft, so your child only has the opportunity to manage their own money.
  • Does not come with a credit card – again, the MasterCard® Debit Card means no line of credit.
  • Does not need any prior history of banking or a good credit rating – in fact there is no credit check needed at all.

This all adds up to an account that is ideal as a first step into adult banking, or as a separate place to keep a balance for day-to-day budgeting so your child is not tempted to dip into their savings.

Are there any fees?

There is no fee to apply for an Arro Flexi Account, and no ongoing management fees. All of our fees for specific transactions are published on the website, so there’s nothing to hide.

For example, if your child makes a withdrawal from a cash machine, transfers money online or uses the Faster Payments service, there’s a standard £1 charge per transaction.

Direct Debits are free to set up, and most other charges only apply if a payment is rejected or you lose your physical MasterCard® Debit Card – and there are no limits on the number of transactions you can make.

How do I pay into the Arro Personal Account?

When your child opens an Arro Personal Account, they get a full sort code and account number, so you can pay into their account just like transferring money into any UK bank account.

You can do this online from your internet banking dashboard or in your own high street bank branch – you just transfer as much as you want directly into their account.

The MasterCard® Debit Card that comes with each Arro Personal Account can be used in-store and online to make purchases from retailers all over the world who accept MasterCard®, so you’re not limited by any unusual prepaid card – you get a full card number and 3-digit CVV that you can start using immediately.

How do I apply for an Arro Personal Account for my child?

Anyone who is living in the UK and aged 18 or over can apply for an Arro Personal Account. There’s no background credit check, and we can usually verify ID immediately using online databases.

We just need a few details – such as the account holder’s name, date of birth and UK address – which you can enter on our simple signup page to get started.

Once approved, your child will get a sort code and account number, plus full virtual MasterCard® Debit Card details via SMS, and can start making purchases with that card number online with no delay.

Sign up for a Personal Account
Personal fees

  • Flexi


    From £0.00 per month

    Use your account as much or as little as you like!

    £1.00 per ATM withdrawal

    £1.00 per Fast Payment

    Max Balance £25K

    Annual Limit £120K

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