Time was when pocket money was there to be frittered away on gobstoppers and Spangles. But education reporter Lyn Barton discovered that children at one Bradford school are quite canny when it comes to cash, and are now to manage their own bank.

At just 17 Zoe Wharton may seem a bit young to be helping run a bank. But when you consider that the customers are barely into their teens themselves it seems to make sense.

Hanson School has just set up its own branch of the Midland Bank and the pupils will be doing everything from managing, marketing, personnel to cashiering.

There were 12 jobs up for grabs and competition was fierce, but Zoe and her friend Shamsun Ali, 18, won through.

They haven't yet been told what their final posts will be, but Zoe reckons she could take the helm.

"I'm doing business and finance as a course and I want to do them at university," she said.

"I want to work in a bank or something like that, so I quite fancy being the branch manager."

Shamsun also believes she can handle the responsibility of a top job at the bank.

"I am good at organising so I want to put that to good use," she said.

School banks are a popular phenomenon, with Hanson being the 16th school in Bradford to set one up.

There are benefits all round - the bank nets young customers who may stay with them for life and, more importantly, pupils get an early chance to take on the responsibility of managing their own finances.

All the transactions are done by pupils 'employed' at the bank, although there is some supervision.

And the Midland offers guaranteed work placements for students who run the school branches, which have led to actual jobs.

The school bank is open over lunch time and children can make a deposit or a withdrawal. The cash is then taken to the bank with the rest of the school cash.

The children get cashpoint cards and a PIN number and cheque books if they are over 16.

But the downside comes for pupils hoping to borrow hundreds of pounds for the ultimate computer game - because there is no loan or overdraft facility.

And the pupils who opened their accounts at Hanson proved they had a sensible head on their shoulders.

"I've already got one account at the NatWest," said 14-year-old Andrew Binns.

"I'm trying to save up for my holiday so I'm putting all my pocket money into this one."

Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.