If I get a job,
and have money,
I want to be able to get a checking account.
Thing is I am only 16.
Can I still get a checking account?
Would it have to be under my name?
Or would my mother have to co-sign or whatever?
2007-02-05 17:18:49 · 4 answers · asked by Erickson B 2 in Business & Finance ➔ Personal Finance
You can get a checking account at banks, savings & loans, credit untions, and other similiar institutions. Some Wal-Marts have banks in them. Requirements for age may vary from state to state (I really am not sure) or from bank to bank, but I think it safe to say that yes, your mother or some other adult will need to be on the account with you. However, it should be possible to have the title of the account set up in only your name, but, your mother would be on the account to sign checks as well. Not all banks are the same so you may want to shop around. First, compare costs. Some banks may charge a monthly service charge. Some may charge you a small fee for each check you write. Some banks offer accounts for free. Some banks that normally charge fees may waive them for students (I assume you are a student). Convenience is another consideration. How close is the bank (or it's branches) to where you live or will do business. Do you plan on using ATM machines...if so, then find out where they are located? For the most part, you should find that the new accounts people that you talk to will be very helpful and friendly. Don't be afraid to ask a lot of questions and find out as much as you can. Banks understand that at this point in your life you will only have relatively little money to put in. However, they are eager to serve you because they anticipate your future business. They hope that one day you will come to them for a car loan and even a home loan. So, learn as much as you can because you will be using these instituions for the rest of your life. Good luck!
2007-02-05 17:38:20 · answer #1 · answered by bubba 3 · 0⤊ 0⤋
False, I had my first checking account at 16 when I got my frist job. They offered it to me, and I didn't know what to do, and accepted it and they did it al for me, and I didn't need to use any of my parents info. You only need a co-signer if you're borrowing money or doing a contract.
2007-02-06 01:30:18 · answer #2 · answered by RSB 2 · 0⤊ 0⤋
Yeah, I had my first checking account at 16. My parents didn't have anything to do with it. You're not taking money from the bank (like a loan), you're giving money TO them.
2007-02-06 10:30:21 · answer #3 · answered by dan h 2 · 0⤊ 0⤋
Your parents would have to co-sign , uless your 18 years of age
2007-02-06 01:23:31 · answer #4 · answered by vik107 1 · 0⤊ 0⤋