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. ... Both types can later be converted to their own accounts.2020-08-05
Can I open a bank account for my minor child online?
A bank account is a valuable start to your child's financial independence and can help prepare them for the future. ... You may need to visit a bank in person but you may find many banks, credit unions and fintech apps now allow for you to apply online.2021-09-03
How do I open 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 18.2020-08-05
How do I open a checking account for a minor?
- Your driver's license.
- Your Social Security number.
- Your child's Social Security number.
- Your child's birth certificate.
- Proof of address.
Can minors open a bank account what are the documents required?
Documents required to open a bank account for a minor: - KYC documents of the parents/guardian. - Aadhaar card of a minor. - Specimen signature of a guardian. The minor's specimen signature if he/she is 10 years old or above.2021-08-18