Can I Open Up A Bank Account At 16

They can t now for example stop you from joining a political party or starting an uprising.

Can i open up a bank account at 16.

State laws and corporate policies vary but most banks aren t going to open accounts for anybody under 18 unless there s also an adult on the account. Certainly in the us or uk and most other countries you need to be 18 the age of legal financial responsibility to open a bank account under your control. You can discuss pros and cons make compromises and even adopt some new habits on this financial journey you re taking together. Many banks will bend over backwards to give you a basic bank account maybe a student account if you wish its up to you really.

I used to work for bank of america. For people under the age of 18 opening a bank account is hard. You can have an account at 16 as long as you have 2 forms of identification. Yes you can have an account.

You can open a bank account at 16 under the parent s supervision because exceeded freedom may lead to risk. Since minors generally can t open bank accounts by themselves you ll typically need to be a joint owner of the account which may actually be a good thing. An account for children aged 11 to 15 an account with more features for teenagers aged 16 to 19. You have to be at least 11 years old to open your own bank account and some accounts have a higher minimum age like 16.

You don t say where you are. Most normal bank accounts only accept people over 18 but if your looking for bank accounts for 16 year olds you do have options. Sometimes they will require that you have a job. Many of the banks and union credits are providing bank accounts to minors which made children be independent to spend the money.

The problem is that you need to sign a contract to open an account and contracts signed by minors are complicated. Some banks offer one account for children and another for teenagers for example. If you are a teenager you can open a bank account but you usually have to find one designed for people your age. It ll give you the chance to compare banks and find features that are important to both of you.

If you are 18 and over you can get most bank accounts for adults. At 16 the amount of legal control your parents have over your decisions is limited. So when a child turns 18 he she can remove the parents account from their account and use it personally.