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Anonymous asked in Business & FinancePersonal Finance · 9 months ago

How old do you have to be to open your own bank account? Checking account?

I really dont trust my parents with my money, they have took some before, and I just want to get rid of the problem and open my own checking account, I am only 16 though, so will it work?

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  • ron h
    Lv 7
    9 months ago

    talk to a credit union, but you'll likely find that you need to be 18 to sign a contract. Do you have aunts / uncles that you'd trust to not steal from you? Of even a parent of your best friend? If you were my nephew, I'd be more likely to sign with you on a savings account than a checking account b/c savings ususally can't be overdrawn.

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  • 9 months ago

    Usually 18. You can set one up earlier, but an adult has to sign for you.

    • John9 months agoReport

      That adult does not have to be a parent, though. If you have another relative you trust, have them open an account for you.

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  • Joe
    Lv 4
    9 months ago

    Bank policy requires that account owners be the legal age of 18 in order to open an account

    • John9 months agoReport

      Maybe your bank's policy requires that. I had my first account the day I was born. (They do require an adult cosigner on the account with you, though.)

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  • 9 months ago

    Unless emancipated, you cannot. You can open a linked account with your parents, but they could still withdraw the money...

    • John9 months agoReport

      You must have an adult on the account with you. It does not have to be a parent. Maybe another trusted relative could open an account with you.

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  • Maxi
    Lv 7
    9 months ago

    That depends on where in the world you live and the banking laws....... I opened accounts for my kids within their first week of them being born, by the time they were 11/12yrs old they handling their own money, saving/spending along with their own debit card ( which was limited to amount in the account)...one child was very good with their money the other spent all and anything in it.......... however both now have good high paying jobs, both own their own property, so both learned early on about finances

    • ron h
      Lv 7
      9 months agoReport

      Those accounts had your name on them.

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  • 9 months ago

    Wait 2 more years

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  • Judy
    Lv 7
    9 months ago

    no, have to be 18

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