The move came after the information organisation carried out a six-month consultation called Tell It Like It Is, into how young people in Scotland deal with financial information. It discovered that young people were bamboozled by the amount of jargon used. In response to this finding, YoungScot has created a 10-point action plan with Lloyds TSB Scotland to help young people find their way around the financial system.
The bank charter mark is one action in the 10-point plan and will initially only be applicable to Lloyds TSB Scotland, but YoungScot's deputy chief executive Louise Macdonald said that may change.
"It's a possibility," she said. "There will be a group of young people deciding so let's see where they take it. We're in contact with a lot of financial organisations and share good practice so let's hope we can take early approach and develop something that helps young people."
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