1

Is it the norm for banks to allow a minor (age 17) to open either or both types of accounts in America?

  • 1
    I 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
  • Did you ask your local bank? – JTP - Apologise to Monica Aug 11 '14 at 12:44
2

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.

1

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.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.