2007-09-25 10:57:54 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
As it is classed as credit you will need to be 18! Other rules apply though so you wouldnt necessarily get one automatically even then!
2007-09-25 11:05:00 · answer #1 · answered by Em x 6 · 1⤊ 1⤋
To have any form of legal contract, which an overdraft would have to be 18 therefore if you failed to pay back the overdraft the bank can take you to court to demand the money back.
The bank will still consider other facts before agreeing such as the amount of the over draft and your income (which does not necessarily mean that you have to be working - as a lot of students don't work but still have overdrafts).
2007-09-25 18:13:07 · answer #2 · answered by Sugar S 3 · 0⤊ 1⤋
Since an overdraft occurs when someone writes a check for more $$$$ than they have in the account ,
And since you need to be 18 to have an account ,
You will need to be 18 to engage in this illegal activity .
FYI - firecat is talking about overdraft PROTECTION .
Because overdrafts are considered BAD , BAD by the bank .
>
2007-09-25 18:02:10 · answer #3 · answered by kate 7 · 1⤊ 0⤋
If you are old enough to have an account, you are old enough to overdraft the account. No matter what your age, it is a BAD thing to do.
To those who say you most be 18 to sign a contract: This is FALSE anywhere in the US. You must be 18 to be BOUND by a contract. Most people won't enter a contract that won't bind the other party, but no law prohibits it.
2007-09-25 19:47:03 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
what do you mean "an overdraft?" a fee? anyone with a checking or savings account can overdraw it, if they dont keep track of their balance. if, however, you are referring to an overdraft protection account, to avoid such fees, then you simply need to be 18. you should be more specific with your questions if you want informed answers.
2007-09-29 15:36:45 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Any age, but you need to be in regular employment.
Full or Part time. I have an overdraft and am in full time work.
My wife has an overdraft and she is in Part Time work.
Call into your bank and chat to one of the advisors.
2007-09-25 18:01:07 · answer #6 · answered by Anonymous · 0⤊ 2⤋
You just have to have an account that you overdraft.
2007-09-25 18:05:28 · answer #7 · answered by Anonymous · 1⤊ 0⤋
18 years of age. You will get credit ref to see how much you earn to see if you can pay back
2007-09-25 18:05:28 · answer #8 · answered by littlemissgio 3 · 1⤊ 1⤋
Just an ingnorant one. You have to keep track of your balance.
2007-09-25 18:00:57 · answer #9 · answered by klh 2 · 4⤊ 0⤋
hey i think you need to be eighttenn but i am not sure it also depends on the type of account you have aswell but do not quote me on it lol
2007-09-25 18:08:55 · answer #10 · answered by johnsoundset 2 · 0⤊ 1⤋