What happens if you open a PayPal account under 18?
Can under 18s have PayPal?
According to PayPal's website, individuals under 18 years old are not allowed to open an account, regardless of their location: ... But PayPal isn't your only option. There are several other banks and financial services that get around this restriction by offering teen accounts linked to parental custodial accounts.2021-08-05
Can I set up a PayPal account for my child?
PayPal has launched a student programme that lets parents establish a sub-account for their children that they can transfer money into and monitor. Parents transfer funds into the sub-account when needed, either on a one-time or recurring basis, with children only able to spend what is in it.2009-08-13
How do I setup a PayPal account for a teenager?
Since you can no longer set up a PayPal Student account, you'll need to look for alternative options. One solution is to open a custodial account and let them take ownership of it when they turn 18. Meanwhile, you can keep an eye on their account activity and help them make sound decisions.2021-08-05
Can you open a PayPal account under 18?
Age 18 is the legal limit. Under age 18, you need your parents assistance. Note, this not PayPal just being mean. When you open a PayPal account, you are agreeing to a binding legal contract.2013-02-17
Can under 16 have a PayPal account?
If you are an individual, you must be at least 18 years old and have full legal capacity to enter into a contract to open a PayPal account and use the PayPal services.