Minor children by law can't open a savings account. They need a parent or guardian to set up a custodial or joint account. A custodial account is the property of the child, but managed by the parent until the child turns 18. ... And just as with your money, make sure your child's account is FDIC-protected.2020-08-05
What age can you get a Wells Fargo card?
Everyday Checking customers have other ways to avoid the monthly service fee. Customers between 13 and 16 years old must open the Clear Access Banking account with an adult co-owner.
Can I open a bank account for my 13 year old?
At most banks, you can open a teen checking account when your child is 13. One parent is usually required to be a joint owner until your child turns 18. As a joint owner, you'll have the ability to monitor and access this account if you wish.
Can I open a bank account for my kid?
Minor children by law can't open a savings account. They need a parent or guardian to set up a custodial or joint account. A custodial account is the property of the child, but managed by the parent until the child turns 18. ... And just as with your money, make sure your child's account is FDIC-protected.2020-08-05
What documents are required to open a bank account for a child?
- Your driver's license.
- Your Social Security number.
- Your child's Social Security number.
- Your child's birth certificate.
- Proof of address.
What kind of bank account should I open for my child?
Look for a children's savings account with no maintenance fees, no minimum balance requirement and a high annual percentage yield (APY). A high yield is important so that children can really see money earmarked for their future grow, and to keep up or stay ahead of inflation.2020-02-29
Can I get a bank account for my child?
Minor children by law can't open a savings account. They need a parent or guardian to set up a custodial or joint account. A custodial account is the property of the child, but managed by the parent until the child turns 18. ... And just as with your money, make sure your child's account is FDIC-protected.2020-08-05