How old do you have to be in order to open a bank account?

Question

I'm 13 and my always takes my money and since I just got a job I want to open my own bank account. But my mom said i won't have access to it till im about 18 or 21. But i dont want that then she wont allow me to save my money on my own.

Answer 1

You can open an account at any age. Both of my boys have there own accts.

Answer 2

You should be able to open a savings account at 13. You will not get a check book or debit card until you are 18. I am from the UK and I was able to get an ATM card at the age of 13 with my bank account. The US tends to require an adult to co-sign on accounts.

Answer 3

In the U.S. you technically have to be 18 to open a checking account, although some banks (Wells Fargo, in my area anyways) will let you get a checking acct at 16 with parent cosigner.

Otherwise, you are limited to a UTMA (Uniform Transfer to Minor Act) account. This means you will have access to deposit and check the balance on the account, but will NOT be able to withdraw. These accts generally will be interest-bearing.

Hope this helps.

Answer 4

There is no minimum age to open a bank account; before you're eighteen (when you can legally sign a document), your parent or guardian has to open it for you, though. My daughter Sarah's got a savings account, and we got that when she was two months old, just after we received her social security number. But it's the same deal; she won't be able to access it herself until she's eighteen. We just keep making deposits!

Answer 5

Mostly, you can have your own account, but you will NOT be able to use it on your own. Overall, you need to reach the age of 18 to be able to start using your account just like all adults do, i.e. withdraw from it, write cheques against it, etc. For now, you will have to put up with your mom's response.

Answer 6

seek for a credit union, no longer a time-honored financial employer. you pays decrease expenses, and nonetheless get the comparable point of provider. you may open a saving account initially; yet once you want a verify e book, then open a checking account too. save purely the minimum necessary to evade rates (and to disguise your checks) interior the checking account. you may circulate money somewhat between the saving and checking account on line. evade WaMu, BofA or different classic banks! you will finally end up giving them various your money for no longer something. credit Unions are cooperatives; the human beings who save their money interior the credit union very own the credit union, and hence rates are decrease.

Answer 7

You can be like 0 years old. It's called a savings account for kids. You don't need a minimum balance.

Answer 8

u have to be 18 to open one on ur own. if younger , u do need a parent to be like a joint account.

Answer 9

I don't think that is true. I had my first account when I was 9

Answer 10

she is correct