I'm planning on using Wells Fargo ... can I open it up myself? Or do I have to have a parent with me? Or can 16 year olds even HAVE one? I'm just assuming they can because thats what i "heard".
2007-03-01 12:25:36 · 22 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Yes they can, however your parents will need to put there name on it as a non-primary contact. The account will be yours however, ur parents name will need to stay on the account as well until your 18
2007-03-01 12:29:08 · answer #1 · answered by primalterozi 3 · 0⤊ 0⤋
You can have a checking account but one of your parents or another adult, would have to sign on it as custodian until you are legally old enough to sign a contract. The only way a 16 year old could get an account by himself is if he is an emancipated minor.
2007-03-01 12:33:26 · answer #2 · answered by Faye H 6 · 0⤊ 0⤋
I'm almost 100% positive that your parents have to be on the account with you. The reason being that if you overdraw the account you aren't legally old enough to be held liable. But your parents are. So, you can get a checking account at any age, as long as you have a parent on the account with you.
2007-03-01 12:29:58 · answer #3 · answered by babybunny729 3 · 0⤊ 0⤋
The legal age limit for anyone to open a checking account is 18 years old. Bringing your parents would mean the account would be opened in their names and its back to square-one - unable!
2007-03-01 12:47:55 · answer #4 · answered by SGElite 7 · 0⤊ 0⤋
Just call the bank and ask them. Personally I would think that a parent would have to be on the account because your a minor. They are responsible for you. If you want to get around that, ask the bank for a safe deposit box and if they can get you that without a parent. Put your money there.
2007-03-01 12:31:09 · answer #5 · answered by sandras77 4 · 0⤊ 0⤋
You have to have a 'joint' account with a parent. That means, that your parent can withdraw money as well. This may or may not be for you. Also, you can not close the account without both signatures.
I had a joint bank account when I was 16.
2007-03-01 12:56:41 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Its a smart idea to go ahead and get a checking account now, so your parents can teach you how to take care of it. You will probably need your parent's name on the account too.
2007-03-01 12:40:56 · answer #7 · answered by Don't Know 3 · 0⤊ 0⤋
i was 16 when i opened up my first checking account with wells fargo. my mom went with me cause she has to cosine, but she CAN NOT TOUCH my money, so it is still yours but your parents just have to be there. my debit card even says my name o it. so if you are going to sign up i advise you to do it!! and open a savings account where they automatically transfer money into it eeach month, i did it and every month it transfers 25 dollars in to it from my checking account. pretty cool!!
2007-03-01 12:30:21 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I had one when I was 17, and didn't have any parental consigner.
That was back in 1982, in NY State. Maybe the law has changed since then.
2007-03-01 12:55:29 · answer #9 · answered by Quixotic 3 · 0⤊ 0⤋
I think that you do have to have a parent with you since you are a minor
2007-03-01 12:28:05 · answer #10 · answered by stretchskeleton10 4 · 0⤊ 0⤋