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  Home >> Special Situations >> Minors  
Minor Wants to Open Account

Can I open an account if I am sixteen?


That will depend on state law, the type of account you want to open, and the policies of the bank where you want to open the account. Some states have laws allowing minors to enter into binding deposit account contracts, some don't. Some banks are willing to open accounts for minors, with or without state laws permitting such accounts, others are not. Banks that open accounts for minors may have different minimum age requirements for savings accounts and for checking accounts.

You will have to do some research for your answer. Call or visit banks in your area to find out what, if anything, they can do for you.

Published on BankingQuestions.com 1/14/10