opening up a bank account?

Question

lets say im talking about the average bank
how old do u have to be to open up 1up usually im 17
what do u need to open 1 up
do i need to deposit a certain amount of money to open it up
all i want to do is to put money in to save so i dont spend it
cash in checks when i get a job
n do u have to pay nything to the bank to keep it open
u know like a subscription
answers greatly apreciated

Answer 1

Louisa has a much better detailed answer! She has my vote!

I don't know about today. My first bank account was opened when I was about 9 years old. I started with about $2 or $5 - I just cannot remember. BUT this was over 50 years ago.

I KNOW today you have to give a legitimate address AND your Social Security number.

Your best bet is to open a savings account at a Savings and Loan OR at a Federal Credit Union - where you can also write checks.

The interest paid is a little higher.

Thanks for asking your Q! I enjoyed taking the time to answer it!

VTY,
Ron Berue
Yes, that is my real last name!

Answer 2

Q. how old do u have to be to open up 1up usually im 17
A. In the U.S., 18 or older for a regular one, 0-17 for a UGMA/UGTMA one.

Q. what do u need to open 1 up
A. Identification and some money.

Q. do i need to deposit a certain amount of money to open it up
A. Yes, the amount varies by bank and by type of account

Q. n do u have to pay nything to the bank to keep it open
u know like a subscription
A. This depend on the bank, the type of account, the amount of money you have there, and various other factors. For example, a bank might offer a free checking account if you have your paycheck direct deposited there, but charge $5.95 per month otherwise.

Answer 3

I've had a bank account since I was 16 years old.

Here's what you need to do...Shop the banks in your town. When you go in, ask them if they have "FEE FREE" savings account and what the minimum deposit is. Also ask them, if by chance, they have STUDENT BANK ACCOUNTS, if you are in high school or college that is.

If they do not have FEE FREE savings, ask them if they have FEE FREE CHECKING. You don't need to write checks, you just need somewhere to put your money. If they offer you free checks, just take them and shove them in a drawer. You can use them if an emergency comes up, otherwise just don't use them. It doesnt matter if it's checking or savings, just as long as it's free.

Most banks will let you open an account for as little as $20. Most banks will offer you a free DEBIT CARD that you can use to take cash out (if you want) or buy gas and groceries.

They always require 2 forms of ID (drivers license, passport, social security card, Green Card, etc), a mailing address and a phone number. At age 17, since you are legal working age, you should be able to open an account on your own, without a parent or guardian.

Your bank account will stay open as long as you want. A bank will only close your account if you ask them to. Hope that helps.

Answer 4

Banks differ on their rules. Parents can open a savings account for their newborn babies, but a teenager sometimes has to wait till they hit 18 to do a checking account, though a savings account would be do-able.

Each bank is different--try calling around to the various ones and ask what their minimum age limit is for someone to get a checking account.

The lowest amount kept in the accout varies too--one of my banks says $50 is the minimum, another said they would start charging a fee if it dropped below $200. They want to be covered in case you overextend yourself and drop below a certain amount. People can and do make adding mistakes in the checkbook and forget to record things, so it's easy to bounce checks if you're not paying attention.

Answer 5

Stay in school. Try to become more articulate. Ask your parents for guidance. They also have a guidance counselor in your school. Besides helping with education, he may be able to help you in opening this account, and getting you a job.