This is the route I am likely to take. Downloaded the app last night and waiting to get a weekend away done and seeing what extra I have left to lock away on top of the £10k!
I’ve had a fair amount in one of their fixed savers which is just maturing now. I think I’m likely to select a new plan with then.
I’m somewhat glad they didn’t launch a current account because their app for ‘day-to-day’ transactions would be horrendous. Their Voice ID and Face ID implementations are just horrendous.
What’s the service like otherwise? I’m considering opening an account 
I’d be inclined to use this as an opportunity to help your son learn about saving and investing. With a bit of guidance give him the task of choosing a cash ISA and a stocks and shares ISA. Since interest rates are low it doesn’t really matter a great deal which cash ISA he ends up choosing.
But you should put a barrier on how much of the 10K goes into the S&S ISA (however much you’re comfortable with). Also put some barriers on how the money inside the S&S ISA is invested so that he learns about different types of investments. Perhaps require some to be in a low cost index fund, some to be in an actively managed fund, and some to be in individual company shares. Ask your son to explain each decision he makes before you execute it for him.
I’d be of the attitude that beginner mistakes made at this stage are better than beginner mistakes made at a later point in life when he might have more money to save/invest.
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It’s okay, it does what it says. It’s all in app, there’s live chat 24/7 and you can view your balance in app and what you’ve earned each month. It’s not the best UI design but it works fine and I’ve not had any issues. It’s not an app you’d be interacting with all that often anyway as your money is in a fixed term so all I ever need to do is check my balance every now and again. Now it’s maturing an option has appeared in the app which lets me choose whether to put the funds into a new fixed term saver or transfer the money out to another bank account.
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Interesting thanks! The rates always seem rather competitive which is a +
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Boooom 
I finally got the extra R in rarther into the dictionary 
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Totally agree with this. I didnt realise 16yos could hold shares, but if they can (or you can hold them for him), then if he’s clever and interested, it’s never too early to learn, not only about the mechanics of the markets but also your attitude to risk, which can help in all sorts of situations (not just financial). I would buy him a copy of The Naked Trader, and when he’s read it, see where he fancies putting the money. You might even get some ideas yourself!
Phone keyboards are great 
In summary:
Poor user experience but…
Very competitive rates - continually
A refreshing addition to their product range (unusually short term savers). No need to lock up your money to attract a decent rate.
No brainer really.
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Lifetime isa (£4k a year with 25% bonus) and lifetime isa for the rest
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It is unlikely that the interest on £10k would be higher than the personal savings allowance, and non-ISA accounts tend to pay a higher rate of interest.
Yes, good point 
(unless the lad in question is already minted…)
But once it is in there, the interest will always be tax free, so over his investing lifetime if he builds up a sizable portfolio he will benefit.
If the money is going to be blown after a couple of years then sure put it in a non tax advantaged account.
I’ll say again what I said in the investing thread - the only reliable predictor of how bad your investments will do is the charges. The lower the charges the better the performance.
Picking an actively managed fund is simply giving your money away.
If you want the exposure to the market, put it in a tracker stuch as vanguard.
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