age limit to have a checking account
Schwab Bank High Yield Investor Checking is only available when linked to a Schwab One brokerage account. There are no monthly or low-balance fees for either account. Get a brokerage account and one-on-one investment guidance with no account minimums or monthly service fees. The Teen Checking account gives teens the freedom to use their own debit card to make purchases at participating retailers and service providers – including online or by phone. Parents have the ability to set daily limits on debit card purchases and withdrawals from ATMs. Fees & Information. Benefits. Checking + debit card = good to go. Students enjoy debit card convenience and all the features that come with our award-winning Mobile and Online Banking service. Plus eligible students under 23 can get a waiver from monthly maintenance fees. Teens from the ages 13 to 17 have the ability to open a teen checking account as long as a parent co-signs the account. This account comes with a Visa debit card and the parent has the ability to set daily limits on withdrawals and spending. This account comes with online access and free online statements. Rated 4 out of 5 by Anonymous from checking and brokerage accounts just opened check and brokerage accounts and very happy. excellent customer service, always available, easy to use on-line account with bill pay. Love the ability to have my bills sent directly to bill pay. Specific rules can vary by bank. Some banks require the account holder to be at lease 16 years of age with proof of employment and a valid ID. Some banks will grant a checking account to a child younger than 18 years old with a secondary account holder. Some research is required to find out what the age requirements are for various banks. This account is linked to a Schwab One® brokerage account, with no fees to open or maintain either one. View High Yield Investor Checking account Features and Fees. View High Yield Investor Checking account Rates. Download the Schwab Bank Deposit Account Pricing Guide and Account Agreement. Parents do need to accompany their children whom are under the age of 18. Savings accounts need $10 to open and pays competitive quarterly interest rates. No age limit. The checking accounts require a minimum of $50 to open and have no monthly service charge, but do have an overdraft charge of $12. Some banks choose a minimum age of 16 because of the implication that it is the legal age for obtaining a job and becoming eligible for a driver's license. Some banks have stricter rules and only allow adults (age 18 and older) to open checking accounts because age implies greater liability and responsibility. Student savings at Bank of America. It's never too soon to begin putting money aside for a specific goal or an emergency need. Getting started with a Bank of America® savings account means you can also get helpful services like Overdraft Protectionfootnote2 and Mobilefootnote3 and Online Banking.
13 to 17