Alright I am under 18 and would like to open a bank account however my parents have a phobia of banks (someone please explain that to me) but I would like to open a bank account. Is it possible to do so without the support of my parents? Thanks.
2006-08-20 10:18:45 · 20 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Local banks in my area allow people to open accounts under the age of 18 with a min. deposit .. chain banks may have a age restriction on them which in my thought would be 16 or so ..
I opened an account young but I'm sure my parents assisted me ..
2006-08-20 10:24:51 · answer #1 · answered by Jim 2 · 0⤊ 0⤋
Yes u can, but depending on what type of account. Most banks allow anyone open a savings account, but a checking account is more complicated so you might have to be 18 to open a checking account.
2006-08-20 10:26:18 · answer #2 · answered by Anonymous · 1⤊ 0⤋
yes. but u can only open a savings account. under 18's cant open a checking not unless you are a college student. most banks require a deposit and $300 balance monthly on the saving account. it depends on the bank. check online for banks near you.
2006-08-20 10:24:09 · answer #3 · answered by mizxhayrah 2 · 1⤊ 0⤋
Typically no. A minor can not enter in a legally binding contract with out parental consent. Your parents may have a phobia of banking due to overdraft fees and possibly bouncing checks or even identity theft.
2006-08-20 10:27:08 · answer #4 · answered by kap10 1 · 1⤊ 0⤋
Phobia means to be afraid so that means they are afraid of banks?!? I am not sure what that means but you can open a bank account.
2006-08-20 10:26:09 · answer #5 · answered by Anonymous · 1⤊ 0⤋
tell the bank you live on your own and say you rent a room from the house your in thats your parents and your looking to start an account any more questionsIM me
2006-08-20 10:24:43 · answer #6 · answered by Anonymous · 1⤊ 0⤋
As long as you have money to put in it you can open one. You can also get your own checks even if you're just a young kid. As long as you have the money, you can do it. Also, your money will earn interest so it's a good thing to open an account.
2006-08-20 10:23:45 · answer #7 · answered by BeeFree 5 · 1⤊ 0⤋
Unfortunately a person under 18 cannot legally sign a contract, so no. You would need at least one parent.
2006-08-20 10:24:45 · answer #8 · answered by creeklops 5 · 1⤊ 0⤋
nope, u need them to sign for you, put ur money in a can or under the mattress until its time, you sound like you have some kind of since, so it ought not be to hard to save it until you can open on ur own. parents have there reasons for things they do, you wont understand until u have kids, honestly, i dont understand them, and i have kids, so maybe not?? sry no help
2006-08-20 10:25:57 · answer #9 · answered by ruby_71572 2 · 1⤊ 0⤋
YES.. I help my younger brother open an account when he was 16 and hes been using and saving his money now he's 19, I advise it very very very very greatly.. it works allot..
2006-08-20 10:24:50 · answer #10 · answered by Anonymous · 1⤊ 0⤋