age  money


Question by  sumo (16)

Do you have to be a certain age to get a bank account?

I think my children are ready to get a bank account and be responsible for their money.


Answer by  VB (361)

There is not an age limit. I set up a UTMA account for my daughter before she was a year old. I have authority over the account until she turns 18. Some banks have special incentive accounts for elementary school and older kids.


Answer by  sanesh (86)

Most banks need a legal age of sixteen 16yrs , then you open a checking account , which has to be approved with parents signature. After 18 yrs. you are fully approved. There may be a few banks do not follow age criteria. Most popular banks , follow 16yrs age criteria with approval of parents. After 18 age accounts are easy to open.


Answer by  Vanasatchy (816)

There is no age limit to get a bank account. Till certain age the parents can operate it by savings. Once they are old enough they can continue it and have the same account. Children should be taught how to operate it and it's usefulness to himself and to the country.


Answer by  John (9008)

Bank policies vary, but most banks will let a child have an account if a parent signs on, as well.

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