Can under 18 year old get a bank account?

also can they get a credit card, cosigned under their parents name?

yes i was 12 when i got a credit card and my own bank account

defenetly, just need a parent sign.

yes im pretty sure u can lmao

Yeah, your parents have to open the account and sign for your card, but its possible.

yes under 18 yrs old, you can get a bank account, but only a savings account, as for the credit card, your parents have to apply for one then ask for a card with your name on it, under thier account

must have a parent sign

parental guidance,ask your parents to go with you to the bank,bankers might required your guardian to assist you! Younger one like you are encourage to save money as early as possible for your future!You are great! Ilike your attitude!

yep but your parent has to be a cosigner

Yes, only under their parents name.

Actually, the card will be in the parents name but they will have the child on the account as an authorized user.

yes, they can. i am 11 and i have one. i guess u can get a credit card if ur parents let u.

Yeah, you just need a parent with you.

Yes and yes. As long as your parents cosign.

First question - yes, you can have a bank account, but you will need to have a co-signer over 18 (preferably your parents or someone you trust because they will have access to your account). Yes, you can get a credit card, but same conditions.

yes. i have one. well, not the credit card. but i know it can be done

Most banks let you have a Savings account at 16 but of course have rules about it. I've heard of people under 18 getting credit cards in their parents name with cosigned privileges. Just be careful and make your payments on time!

You can get a bank account no problem but as far as the credit card I think if your parents wanted you to have one they would get you one, but as a parent I won't get my kids one, I wouldn't want them to put me in debt.

you can get a bankaccount but a parent must cosign the credit card

Yes. You will have to have a parent or guardian cosign for both. And good for you!

The big challenge in banking for young people is that bank accounts can be hard to get or very expensive to maintain. Banks are businesses, and they charge fees for the services they provide such as savings accounts, checking accounts and debit cards. There are ways that you can avoid paying service charges for your bank account, so be sure to ask how it is done. Sometimes customers can reduce bank fees by keeping a minimum balance in their account, but without planning, having enough money for a minimum balance can be hard to do.

Also, many banks restrict the kinds of accounts students under the age of 18 may open. If you're under 18, having your own bank account may mean opening a joint account with an adult who already has an account at that bank.

Two of the main banking choices are commercial banks and credit unions. Commercial banks offer checking accounts, savings accounts, investment services and loans to people and businesses. Some of the advantages of commercial banks are that they often offer many convenient locations, usually offer ATM and debit cards, provide a wide range of services including different kinds of checking accounts, savings accounts and loans, and their deposits are insured by Federal Deposit Insurance Corp.

Some things to consider when opening a personal account at a commercial bank are:

* Fees for checking and savings accounts can be high;
* Sometimes personal service is minimal in large institutions;
* Students under 18 cannot open an account without making it joint with an adult.

Credit unions are non-profit financial institutions that provide banking services for their members. Some of the advantages of having accounts at credit unions are that they offer low fees for banking and low lending rates for their members. Because they are usually small, credit unions often provide personal service to their members. In addition, they often pay dividends on savings and checking accounts without requiring members to have a large amount deposited.

Some things to consider before opening a credit union account are:

* It may not be conveniently located;
* Students under 18 cannot open an account without making it joint with an adult;
* Because they are smaller than many commercial banks, the products credit unions offer may be limited. It is also important to make sure that deposits are insured by the Federal Deposit Insurance Corp.
A debit card looks like a charge card -- sometimes it even has a MasterCard or Visa logo on it. But even when a debit card has a major credit card symbol on it, it is a lot different from a credit card. When you use a debit card, you have given the bank permission to take that amount of money out of your account to pay someone for goods or services. In that way, it is just like writing a check; you have to have enough money in your account to cover the amount of your purchase. Many banks offer debit cards at no charge with a checking account. Debit cards are a convenient way to make purchases because they are easy to carry with you.

WHAT YOU NEED TO OPEN A BANK ACCOUNT

$$$$ -- For most accounts there are minimum first deposits and minimum account balances. Opening an account requires planning because you must know how much money you need at the bank you have chosen to get your account started.

ID -- Banks will require you to show identification to open your account. A driver's license or passport is good because it has your photo and shows your current address. Sometimes official correspondence, such as communication from your school, can be used for identification.

Social Security number -- You will need to have your Social Security number to open an account.

Account signature card -- The bank will ask you to sign one of these so that there is an official copy of your handwriting on file for writing checks and withdrawing money.

A willing adult -- The big banking restriction for students under 18 years of age (and this is a big one) is that most financial institutions will require your account to be joint with an adult who has an account at the bank. Banks are sometimes reluctant to open checking accounts for teenagers because of the big financial responsibility that comes with managing a checking account. Even on savings accounts, minors are often required to have their account tied to an adult customer's account.

yes with parent permision

it depends on the country you are, if you are in mine, Nicaragua, then you can, buy you have to show proof that your parents give you the money by going with them because they will serve as tutors, and if you work you just show proof

Bank account? Sure, if you got the money, honey! You should also be able to get the card if your parents are willing to help you out.

Yes, to both questions, provided the parents take full responsbility.

yes u can have a bank account with ur parent being a signer for u they have to go to the bank with u (ive had an account since I was 16)
and ur parents can get a credit card and put u as one of the card holders

Yes. Many banks have student/minors accounts.

As for the credit cards, the parents have to be the major signer, the minor the cosigner. Debit cards only need parents to co-sign.

Most banks will want minors to be at least 16 (driving age) to get a checking account.

Enter Your Message or Comment

User Name:
User Email:
Post a comment:

Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.034
Copyright (c) 2011 Financial Crisis Saturday, May 26, 2012 - Terms of use - Privacy Policy