Why would a 18-21 yr old use building society services insted of bank services?

Question

Why would a 18-21 yr old use building society services insted of bank services?

Answer 1

Why not most buliding societies seem to work as banks these days and you are more likely to get a decent interest rate on your current account

Answer 2

My Daughter whom is 11 has both a Bank account and a Building Society account.  She saves regulary in her Bank account and then deposits her well earned money into a high

interest Building Society account that she is unable to touch until she is 18.  Then she has the option of re-investing until

she is 21.  The interest that has been added has nearly doubled her initial deposit. There are a number of Building

Societies that offer this range of interst to 18 - 21 year olds that which to save instead of spending their well earnt investments!

Answer 3

if they see you save and do not take credit you will find it easy to get a mortage

Answer 4

To be fair you need to take credit in order to get a mortgage as you have to have a good history, if you dont take credit you will have no history thus being unloanable on the scale of a mortgage!! Unless you earn an extortionate amount!

Answer 5

You get more interest on your money.  You may want to get a mortgage with them.