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My friend is going to be 18 next month and she said that she would cosign for a debit card. I am currently 17. The debit card I want to get either requires you to be 18 or a joint account with right of survivorship in which the debit card has to be in the person's name who is 18 and the other person signs. My question is will the joint with right of survivorship work out considering that she is 18 and I am 17?


one other detail: you only have to be 17 to own your own checking account at my bank.

2007-02-13 09:31:03 · 2 answers · asked by Anonymous in Business & Finance Credit

2 answers

The simple Answer is yes it should work. If you want to give your friend access to all your money. It becomes her money and you have the right to use it, but she can take you off the account anytime she wants. I would be very cautious.

Check out other Banks and Credit Unions, you may have better accounts for you.

Good luck

2007-02-13 10:57:46 · answer #1 · answered by Alan W 3 · 0 0

A joint account means both of you are full owners of all money in the account. Either of you can withdraw ALL the funds at any time. right of survivorship means if one of you dies, the other becomes sole owner of the account without it passing though the estate of the deceased.

2007-02-13 20:09:35 · answer #2 · answered by STEVEN F 7 · 0 0

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