How to open a bank account for under 18 age (Minor)

 How to make a bank account for under 18 age... Almost All over the world there are banks. As we all know that, Bank is a financial institution. Bank accepts deposits from the public and also gives loans to people and businesses. Banks allow everyone to open different types of Bank accounts. But almost all countries' banks do not allow minors to open a bank account without a parent or guardian. If you are looking for a Savings Bank account for minors then there are a few options available.

How to make a bank account for those who are under 18 age

Custodial or joint account -

As per laws, Minors need a parent or guardian to set up a custodial or joint account. A custodial account is the property of the child same is managed by the parent until the child turns 18.

If you are the parent of that minor you can open a joint account with your kids with a joint account, parent and minor both have Bank account access but only adults can supervise or limit activity.

Eligibility -

  • Both you (Parent/Guardian) and your minor child must be present in the bank.
  •  You must both have a valid primary ID, such as a U.S. State Driver’s License, a U.S. State ID Card or a U.S. Passport.
  • The primary ID must have a photo, and it cannot be altered or expired.
  • You must show proof of address, such as a utility bill or financial statement.

How to open Bank Account for minor -

  1. Choose Best Bank - First Decide in which bank you are going to open a bank account for a minor.
  2. Visit Bank with Required Documents - To open a Bank account you need to Visit Bank with the required documents
  3. Fill and Submit Bank Account opening form - Take the bank account form from the bank and fill it carefully attach the required documents and submit that form.

The bank authority will tell you when your bank account will be ready to use. Sometimes it takes a few minutes. It depends on your bank, sometimes it takes a few days/hrs for a bank account for minors to be ready.

If you find this information useful to you don't forget to share it with your family and friend let them know How to make a bank account for those who are under 18 age. If need help comments below we would like to help you.

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