I'm 17 years of age and live in Florida. I am interested in opening a simple savings account. Will I need a parent's signature on the paperwork?
According to our sources, most banks in Florida are happy to open a savings account for someone your age. Florida law (Florida Statutes, section 655.77) permits banks to open accounts for minors. Many banks require that a parent be a co-owner of a minor's checking account, but it's unlikely you'll run into such a requirement for a savings deposit.
Check several banks in your area to find one that has the combination of lowest fees and highest interest rates on savings accounts. If you have to decide whether to go with higher rates or lower fees, go for the bank that has the lowest fees. For smaller accounts, fees are more important than rates.
Published on BankingQuestions.com 5/17/07
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According to our sources, most banks in Florida are happy to open a savings account for someone your age. Florida law (Florida Statutes, section 655.77) permits banks to open accounts for minors. Many banks require that a parent be a co-owner of a minor's 