Cash point

Halifax has seen a 40% rise in the number of customers aged 11 to 18 using online and mobile banking.

Research from the bank, which offers an Expresscash account for under-18s, reveals 90% log on to bank via mobiles – and this is leaving parents worried their kids are vulnerable to online fraud.

Halifax and child online safety experts at Internet Matters have produced a video, available to view in branches, to highlight how parents can help protect their children.

It’s vital teens are informed about the dangers online and how to keep their personal details, and cash, safe.

Ensure your youngsters lock their device, have strong passwords for online banking and don’t store passwords and PINs on their phone.

Tell them to never use free wi-fi networks for online banking or give out personal information.

Russell Galley, managing director Halifax, said: “Today’s teenagers have grown up with the convenience of the internet so online banking is just part and parcel of how they expect to be able to manage their money.”