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If u want to open a checking account at age 16 do u have the checking account at the same bank as your parents |
If u want to open a checking account at age 16 do u have the checking account at the same bank as your parents you cannot have your own account at your age, must be a joint account with an adult. As far as I know - NO you don't but you will need loads of I D and therefore you probably don't and will need your parents to help you open an account. i believe you will need parents signature to start account, but the account will essentially be yours to maintain. and it does not have to be at parents bank...but you may get better service if it is Yes minors may be listed as the primary account holder, however at least one account holder must be at least age 18. http://www.statefarm.com/bank/before.htm... Hmmmm, most banks will NOT open an account for a minor. A checking account implies that you have to sign a check, and minors cannot sign them, because a check is considered a legal document. I have opened a checking account for someone who was close to being 18, but had one of their parents on the account as well. It is a good idea to have the account you open, at the same bank your parents are at, just because you can trust their judgement that they picked a good bank, but that is it. You will probably end up with a savings account as well, and again being under 18, it will have to be a minor account with one of your parents on it as a custodian. You are not allowed to take money out yourself, unless they grant you ( your parents) special permission, but most likely the bank will not allow it, again, minors cannot sign legal documents, thats what a withdrawal slip is. Your parents can get an ATM card for the acct in their name, and allow you to use it, to take money out, that would be the only way. Good luck to you !! |
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