How Old Do You Have to Be  to Have or Open a Bank Account?

Opening a bank account is one of the most important tasks for any young person. The first time you do it, you will be asked how old you are and how much money to deposit.  But how old do you have to be before being able to open a bank account?

Am I Eligible to Open a Bank Account?

To be eligible to open a bank account, you need to meet certain requirements. Most U.S. banks require you to be: - A U.S. citizen - 18 or older (an adult) - Have a government-issued ID - Make a minimum opening deposit - A co-owner if you’re not of legal age

How Old Do You Have to Be to Have or Open a Bank Account?

Opening bank accounts requires you to be of an eligible age. You need to be at least 18 years old to open an account by yourself, or the age of majority in your state of residence.

How to Open a Bank Account as a Minor

Children cannot open bank accounts in their own names because they are not legally capable of entering into contracts yet. A parent or guardian must open the account and be listed as joint owners with their minor child.

How to Open a Bank Account for a Minor

1. Choose the Type of Account You Want (Checking Account vs. Savings Account)

For instance, teenagers generally only have access to kids checking accounts, while kids of nearly any age have access to savings accounts.

How to Open a Bank Account for a Minor

2. Submit an Application

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.

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