sttracy007
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Good for you for thinking about getting a savings account in the first place! Had I thought about it when I got my first job I would be better off today! I definitely think you should get a savings account, but they don't come with debit cards. Opening a checking account will get you the debit card, but you have to be vigilant with your balance so that you don't get over-drawn. Having a debit card is much better to start out with than a real credit card - it will teach you about how far your paycheck can go and how to budget . And having both a savings & checking account will also build a good financial background for the future when you decide to buy a car or house. |
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ra63
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You should be able to get a debit card with your savings account. Check with the banks in your area, or a credit union if your parents belong to one. |
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samantha b
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I am 99% sure that you can't get your own savings/chacking account before you are 18. I think you have to have a parent or legal guardian go with you, and then once you turn 18 the account becomes yours. And no, you have to have a checking account to have a debit card. THe best thing to do is link a checking and savings account together that way you can control how much money you put away and how much you allow yourself access to with checks or a debit card. If you just got a job, they probably told you to get a bank avvount so that they could directly deposit your paychecks into your account. If that is the case, then you also need to order actual checks with your account, then viod one out and give it to your work so they have you bank numbers and can direct-deposit your paychecks. |
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creolebutta
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Since you are still a minor, you will have to apply for a joint account. This means sharing the account with a parent or guardian of a legal age to enter into a contract. A checking account may be your best option if you simply want to be able to cash your check and spend. However, if you option for the savings account, you are limited to the number of withdrawals you can make in a quarterly period(three month). There will be penalty fees for going over the number of transactions allowed. In addition, most banks issue debit cards for any account. You must consider the reasons for opening a bank account. Is it to save or to spend? If it's saving go with the savings and vice versa. |
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living dead girl
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debit cards come with checking accounts.ATM cards you can get with a savings account.you are old enough i think for a savings,may need an over 18 signer for a checking.i would do the savings with an ATM card,that'll help you budget better and not spend it all,and save some too.you can get a prepaid debit card to use in stores and stuff for minimal fees. |
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Kris
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a checking account is the way to go. if your parents are required to get a joint on with you, most banks allow you to take their name off at 18. Explain to the bank also that you want a checking account with a visa mastercard debit card. |
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anpadh
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You can get a savings account and still have a chequebook, if that is what you want. A checking account is not just an account where they give you a chequebook. But it depends what you want to do. If you are going to just stick the money in the bank and not use it until your great-grandkid is 65 years old, then you're better off putting the money in stock. But, if you're going to party with the money every week, you may as well just leave the money in your wallet. A checking account is for people who want to pay bills every day with their account. A savings account is for people who want to save a small amount of money every week (or whatever) for a fixed amount of time (maybe a year or two years). For instance, if you put $50 into your savings account every month for 2 years, you would have enough to buy yourself a really cool outfit for graduation. |
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regerugged
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Stick with the savings account. You can always withdraw money if you have to. It is too easy to spend money with a debit card. And, since you are under 18, merchants may not be willing to accept your card. Persons under age 18 are not legally bound by contracts they enter into. |
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csucdartgirl
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You must be of legal age (18) or have a parent co-signer for a checking account.
I think banks offer debit cards w/ savings accts. |
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S L
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I would open a checking account and you can get a debit card with that. Yes, you are old enough. You're just going to need one of your parents to co-sign with you. This is in case you owe money and you don't have enough to pay off any debt. This just ensures the bank with get their money. |
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beauty s
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it depends on what bank u are going to and most of the time u can get a debit card, but becarful cause u only want to spen what u have.. |
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pokecheckme
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Can one of your parents go in with you and open a joint account? |
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gigi
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im 16 also and i got a checking account and i got a debit card with it using the card is so addicting i love swiping it through the machines get a checking account you can also get a savings account along with that just make sure not to spend to much money and the money you do spend make sure you actually have in the account... trust me!!!! use your money wisely your young and you dont need to fck up your credit now...good luck |
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Holly Golightly
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I don't think you can have a debit card for your savings. It's specifically made that way so you don't take money out, you can only save. Get a checking account with a savings account that is attached to it (i.e. $25 goes into your savings account every month from your checking account). Pick a bank and speak with a banker. Usually, you just need a check or some cash to get your account started. |
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Nate
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I think what you should do is go to your local bank and ask around and see how old you have to be to get an account started. You should try credit unions. They are different from banks and are less strict. Start with a savings account and then about six months down the line (if you're working), look into getting a checking account.
No, you can't get a debit card with a savings account. That only works if you have a checking account.
I opened up a bank account at 17. SOME banks and credit unions won't allow you to open up an account of any type unless you're 18. The credit union i go to (Michigan First) has a special program that allows you to open one as young as 15. It's a very rewarding thing to have your own account. Knowing you have your own account and making your own money is really rewarding and gratifying. |
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Bec
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You are plenty old enough if YOU can handle it. Go to the bank of your choice (one that's convenient or your parent's bank) and speak with a representative. They will get you set up for an account that's appropriate for you. You will benefit from the professional help from talking with someone one on one more than the Internet can help you. Your going to love having an account of your own now that you have your own money! Good Luck! |
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?
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which bank allows a 16 year old to check out funds, i tried that with my son and they would not release any funds to him until he turned 18. ?maybe it was just the bank we had our acount with. |
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Lizzy
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Well, you can get a ATM card with your savings account. However, I would urge you to just open the savings account without the ATM card. If you need to withdrawal $$ then you can go to the bank. This is a good method for you so that you do not overly spend and also you are able to save money. By the way good for you. Only 16 and thinking of finances already that's great. |
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BUTTERFLY
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yes, you could open a checking account, if you are old enough to work you are old enough to get a checking account with debit. |
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