Is it the norm for banks to allow a minor (age 17) to open either or both types of accounts in America?
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1I am unsure what you asking. Okay I know EXACTLY what you are asking but I don't know what you really want to know. A quick search would tell you. Are you asking about the pros/cons? Purpose of such an account? Looking for advanced knowledge to avoid a rip off? This seems like a good question, but I hope you will fill it out a bit more. – MrChrister Aug 11 '14 at 6:32
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Did you ask your local bank? – JTP - Apologise to Monica♦ Aug 11 '14 at 12:44
It is not the norm for banks to allow minors in the United States, under 18 years of age, to open a checking or savings account. It is however the norm for banks to allow accounts to be opened by custodial account holders on the behalf of a minor of any age, even less than 1 year old.
My bank (Wells Fargo in the US) says that accounts are available to teens ages 13-17 with an adult co-owner. As a teen my first bank account (at a different bank) was also co-owned with my dad, so this is normal for me.
