At what age should I allow my teenager to get a checking account of his/her own?

At what age should I allow my teenager to get a checking account of his/her own?
by

1 Answer

Answer :

Like a lot of decisions this one should be based on their maturity and ability to understand managing the account. I would say 15 or 16 is a good age to start if they are ready to manage the account.
by

Related questions

What is the minimum age to have a checking account in your own name?

Description : What is the minimum age to have a checking account in your own name?

Last Answer : You have to be 18 years old to have a checking account in your own name. If you are under 18, you have to have a parent or guardian name on the account as well. The minimum age to have a ... of 18 and would like to open up your own checking account, you will need a co-signature from an adult.

A son went to his father's house and knocked on the door. When his father answered the door, the son said, 'O.K., today is the day I promised to burn your house to the ground.' 'But I built the house in 1941 with my own two hands. It has a lot of sentimental value, and is still very useful to me,' replied the father. 'Too bad,' said the son, 'but I have always loathed it, especially in the wintertime, and I grew to especially hate it since you added that second hole to it when you built the addition to the house when I was a teenager.' 'But if you burn the house down, where will I go?' asked the father. 'You will just have to go where most people go in these modern times,' answered the son. 'Well, I guess you're right,' said his father. The son then promptly escorted his father outside, wh

Description : A son went to his father's house and knocked on the door. When his father answered the door, the son said, 'O.K., today is the day I promised to burn your house to the ground.' 'But I ... 'Well, I guess you're right,' said his father. The son then promptly escorted his father outside, wh -Riddles

Last Answer : The father, although he owned a fully functioning home, had never been able to break himself from the habit of going to the bathroom in the Outhouse he had built for his family back in 1941. The son, ... the son had been trying for some time to get his father to agree to let him burn it down.

What is the best age to open a checking account for a minor?

Description : What is the best age to open a checking account for a minor?

Last Answer : There really is no best age for a minor to open a checking account. A minor cant open their own account until they reach the age of 18, but could open a joint account with a parent. This would depond on when the parent decides is best for the minor.

Can a teenager sign up for a PayPal account?

Description : Can a teenager sign up for a PayPal account?

Last Answer : You might not be able to, because PayPal would probably resist issuing one to someone too young to legally enter into a binding contract without parental or guardian support.

The use of multiple observers to allow cross-checking of observations to make sure that the investigators agree with what took place is known as a. Interpretive validity b. Researcher bias c. Multiple operationalism d. Investigator triangulation

Description : The use of multiple observers to allow cross-checking of observations to make sure that the investigators agree with what took place is known as a. Interpretive validity b. Researcher bias c. Multiple operationalism d. Investigator triangulation

Last Answer : d. Investigator triangulation

What is a teenager dyes her hair purple in literature?

Description : What is a teenager dyes her hair purple in literature?

Last Answer : Need answer

What is the best brand of makeup to start a teenager on that will protect her skin and aid against breakouts?

Description : What is the best brand of makeup to start a teenager on that will protect her skin and aid against breakouts?

Last Answer : Mary Kay makeup is great for a young teenager as it's easy to apply and won't trap in oils that can lead to acne.

What did you do while you were a child/teenager that you wouldn't want your own children to do or even perhaps to know about?

Description : What did you do while you were a child/teenager that you wouldn't want your own children to do or even perhaps to know about?

Last Answer : answer:When I was 16 I left town every single weekend to go live with my girlfriend that lived an hour away. I would leave Friday afternoon and return late Sunday night did this every weekend til ... . Other than that I didn't do anything anyone would find objectionable. Never drank or did drugs.

What is the best way to start your own business and what are good business ideas for a teenager?

Description : What is the best way to start your own business and what are good business ideas for a teenager?

Last Answer : I walked around and washed cars and mowed lawns. It was actually a sweet gig if you do a really good job. I set my schedule and for the most part used the equipment people already had.

Can a songwriter allow their songs to be used by another bands, and she can still perform the songs by herself (her own band)?

Description : Can a songwriter allow their songs to be used by another bands, and she can still perform the songs by herself (her own band)?

Last Answer : Generally, it's frowned upon to let multiple artists use the same song, especially if you've already used it for yourself. The same thing happened between Beyonce and Kelly Clarkson, recently. They were each ... I would suggest not trying to give it to anyone else. You're just asking for a lawsuit.

Mark the incorrect option a) Not more than one policy will be allowed for one child. The policy can be taken by insured for his/her own child only b) Not more than two children in a family shall be covered under this policy. The same child should not be covered under more than one policy c) The insured of main policy shall not be aged 45 years and above at the time of taking of children policy d) The age of the child note more than 18 year at the time of issue of children policy

Description : Mark the incorrect option a) Not more than one policy will be allowed for one child. The policy can be taken by insured for his/her own child only b) Not more than two children in a family shall be ... policy d) The age of the child note more than 18 year at the time of issue of children policy

Last Answer : d) The age of the child note more than 18 year at the time of issue of children pol

Please tell me some good ways to help a teenager jump higher, and make his shrank thinner?

Description : Please tell me some good ways to help a teenager jump higher, and make his shrank thinner?

Last Answer : What is a shrank? Are you referring to a body part?

How has Prashant , a teenager, been able to help the people of his village? -English 9th

Description : How has Prashant , a teenager, been able to help the people of his village? -English 9th

Last Answer : Prashant has organised a group of youths and elders. This group has pressurized the local merchant to give some rice for the villagers. He has formed a team of volunteers to clean the Red cross place where the villagers have taken shelter. ... Thus Prashant helped the people of his village.

Teenager The light Magazine How much? Year From His Activities On By ?

Last Answer : Teenager The light Bangladesh A Children Teenager Chief Magazine. 2012 In The first The light Teenager New Year Numbers 1419 The first Published Is. Then 2013 Of the year April Per month ... Adolescents The For Childish Different Subject By printing Stays. Monthly 5 On The magazine Published Is.

Who owns the copyright on my checking account?

Description : Who owns the copyright on my checking account?

Last Answer : There would be no proof that you wrote the verse. So I suppose the copywrite would belong to the one who copywrites it first.

What are my options for getting cash from my checking account without the physical debit card?

Description : What are my options for getting cash from my checking account without the physical debit card?

Last Answer : My guess is that your fate will be determined by the temperament of whichever bank employee you happen to draw. The way I see it, so cavalier an attitude regarding your debit card raises some intriguing questions.

Who can write out checks from a joint checking account?

Description : Who can write out checks from a joint checking account?

Last Answer : Both can write checks, as far as the bank is concerns, but many businesses won’t accept them from the spouse whose name is not on the check.

PayPal account - advice - credit card or direct checking account as default?

Description : PayPal account - advice - credit card or direct checking account as default?

Last Answer : My default into my bank. Just because I don't want to balance out from my pay pal into credit card then pay with banking. But I don't think theres anything wrong with using it into the credit card and ... can tranfer to and fro, but I don't think you can put money into your credit card from paypal.

Opening first checking account?

Description : Opening first checking account?

Last Answer : answer:Most banks charge a monthly fee ( $15 per month ) and the checks are also cost. A minimum on deposit of several hundred dollars. Most require a monthly direct deposit from the company you work for, ... your age, under 18 years old. You should see if they will let you start a savings account.

Balancing checking account on computer?

Description : Balancing checking account on computer?

Last Answer : There's a time lag between the time you receive your monthly statement and the computer statement. The computer statement should be the most up to the minute one, so I would go by that ... to reconcile to both adjusting for the checks and deposits that have cleared since you received your statement.

How is a debit card with a checking account different from this >PASS card?

Description : How is a debit card with a checking account different from this >PASS card?

Last Answer : It's like a cross between a checking account and a gift card. With a pre-paid card, your parents deposit money onto the card, and can reload more money as you spend it down. In that way it's ... costs $50, your card will be declined and you will have to find another way to pay for your purchase.

Is there any way to start a checking account in the U.S. without a street address? (With only a PO box address?)

Description : Is there any way to start a checking account in the U.S. without a street address? (With only a PO box address?)

Last Answer : Assume that you live somewhere; that’s your street address. It doesn’t have to be on the checks.

Checking account I can initiate wires from online?

Description : Checking account I can initiate wires from online?

Last Answer : Bank of America has a really good one; you can also tranfer funds to and from different account regardless of the institution for free. I think it takes a day or so to set up if it isn’t a BOA to BOA account, but very convenient if you need to move funds around.

How do I minimize the hit when trying to put euros into my US checking account?

Description : How do I minimize the hit when trying to put euros into my US checking account?

Last Answer : I’m a little confused.. is this ‘hit’ coming in the form of the exchange rate.. a wire transfer fee.. i’m not really sure what in particular you are referring to.

What do you think of giving your bank card number to a free online credit checking website then taking all your money out of your checking account?

Description : What do you think of giving your bank card number to a free online credit checking website then taking all your money out of your checking account?

Last Answer : I’m sorry, that “teaches the thieves” how?

Turned down for a free checking account?

Description : Turned down for a free checking account?

Last Answer : Just a guess but a lot of checking accounts come with overdraft protection, which is essentially a line of credit. Even without overdraft protection, a poor credit rating is probably considered an ... to bounce checks. Bounced checks and the associated hassle are costs for the bank as well.

I forgot my password on amazon.com and i tried to recover it by clicking the "forgot password?" link and it wants me to enter the last four digits of the last credit card I used but I didn't use a credit card I used a checking account. Please help.

Description : I forgot my password on amazon.com and i tried to recover it by clicking the "forgot password?" link and it wants me to enter the last four digits of the last credit card I used but I didn't use a credit card I used a checking account. Please help.

Last Answer : Why don’t you just open an new account?

For what do you use the checkmark column in a checking account register?

Description : For what do you use the checkmark column in a checking account register?

Last Answer : When your check has cleared the bank. Then you are sure the check has been cashed or depositied by the merchant and the money has been withdrawn from your account. The check you wrote has then ‘been cleared’.

Suppose I borrow money from X and I authorize my bank to make monthly payments directly from my checking account. Now, I want more flexibility by paying either online or by check. X refuses to let me do this. But my bank refuses to "stop payment" on these tranfers even though its my money and it has no obligation to X. What's the law on this?

Description : Suppose I borrow money from X and I authorize my bank to make monthly payments directly from my checking account. Now, I want more flexibility by paying either online or by check. X refuses to let me do ... tranfers even though its my money and it has no obligation to X. What's the law on this?

Last Answer : answer:Hmm, I suppose you're from USA. Don't know the laws there, but here in Slovenia, we handle things like this by calling and yelling at the lady on the other side and things get fixed eventually. But ... what you can't do with you money. I'd threaten them I'm gonna change the bank or smthng.

How much money do you keep in your checking account?

Description : How much money do you keep in your checking account?

Last Answer : answer:We try to keep two weeks salary in our checking account at all times. Currently it is a bit lower because we're moving and having to pay bills for both places, but that's our comfort level. As ... the rest of your question, I can fully admit that I am not the person to be handing out advice!

IF TCF CLOSES A CHECKING ACCOUNT CAN YOU OPEN ANOTHER ACCOUNT WITH WHETHER IT BE SAVINGS OR CHECKINGS?

Description : IF TCF CLOSES A CHECKING ACCOUNT CAN YOU OPEN ANOTHER ACCOUNT WITH WHETHER IT BE SAVINGS OR CHECKINGS?

Last Answer : They will likely deny your checking account application. You may be able to open a savings account with them.

How often should you typically monitor you checking account?

Description : How often should you typically monitor you checking account?

Last Answer : Monthly

Setting Up A Checking Account?

Description : Setting Up A Checking Account?

Last Answer : Setting up a checking account sounds like a straight forward,easy process. And for many, it is. For others, there are thingsthat stand in the way of a checking account. For still others,simply ... charge a monthly fee for maintaining an account andstill others -- although very few others today --

Checking Account Overview?

Description : Checking Account Overview?

Last Answer : Checking accounts are one of the most important tools inmanaging finances. They allow for access to money, often with theuse of a debit card and personal checks. These tools can be used topay ... limited accounts include morestrict limits on money that can be removed on a daily basis, aminimum r

Finding the Best Online Checking Account?

Description : Finding the Best Online Checking Account?

Last Answer : Finding the best online checking account is no easy feat. Thereare many considerations to keep in mind, while one searches for theonline checking account that best serves his or her needs ... how much valuable information one istransmitting online, when one is opening an online checkingaccount. Inf

Why Open a Checking Account Online?

Description : Why Open a Checking Account Online?

Last Answer : There are a number of reasons why a consumer would want to open a checking account online. Online checking allows consumers to make deposits, withdrawals, and manage their finances right from their computer. ... good idea to make a list of your available options. There are a wide variety of onl

Tips for Opening an Online Checking Account?

Description : Tips for Opening an Online Checking Account?

Last Answer : Opening an online checking account can be a stressful endeavor.However, with the tips outlined in this article, one should have noproblem finding a checking account that meshes well with theirfinancial needs ... $10 to $100 for simply opening an online checkingaccount. In addition, if one refers a f

Opening an Online Checking Account?

Description : Opening an Online Checking Account?

Last Answer : The process of opening an online checking account is actuallyvery easy. The best thing a consumer can do to be involved in theprocess is gather the necessary information he or she will need, aswell as become ... most out of such an account.First, a person will have to look at what a certain bankre

Is it Safe to Use a Checking Account for Online and Phone Purchases?

Description : Is it Safe to Use a Checking Account for Online and Phone Purchases?

Last Answer : Many consumers are choosing to throw away credit cards to reduce household debt. In place of credit cards, debit cards with credit emblems and checking accounts are commonly used to make internet ... page and the checking account is charged for the purchase. Many online shoppers think a webs

Tips on Selecting the Best Checking Account?

Description : Tips on Selecting the Best Checking Account?

Last Answer : Not too many years ago, banks typically offered few options whenit came to a checking account. As competition increased, new twistswere developed in hopes of enticing customers to open an account ... require that you maintain a minimumbalance, while other accounts charge a maintenance fee if you wri

How old does my son have to be before opening a checking account?

Description : How old does my son have to be before opening a checking account?

Last Answer : It depends on the bank. Some banks may give checking accounts to people as young as 16. However most have tighter restrictions. Generally, banks will not allow a person to open their own checking ... child's spending on a joint account. The minimum age for joint accounts is usually 14 years.

If you are under 18 do you need a parental signature to get a checking account?

Description : If you are under 18 do you need a parental signature to get a checking account?

Last Answer : Yes, if you are under 18 years of age, you do need a parental signature to get a checking account. The only time this isn't the case is if you are a liberated child, meaning you don't ... this. I opened a bank account by myself when I was 15, and withdraw money regularly without parental consent.

Do you know if banks will still give high interest rates on savings accounts compared to a regular checking account?

Description : Do you know if banks will still give high interest rates on savings accounts compared to a regular checking account?

Last Answer : Most savings accounts hold little to no interest rate currently. They are basically the same as a checking account. If you are looking for higher yield interest, consider purchasing a CD.

What kind of documentation is needed to open an online checking account?

Description : What kind of documentation is needed to open an online checking account?

Last Answer : Opening an online checkign account is relitively easy. If you have your state issued ID and your social security number you should have enough information.

Does your bank offer an online checking account?

Description : Does your bank offer an online checking account?

Last Answer : Many banks offer online checking accounts along with my own, which is Wachovia. If you are a new or existing bank member, the easiest way to find out about an online checking account is by either visiting ... they do or not My personal account has online banking. But I don't use it at the Moment.

How secure is the money I keep in an online checking account?

Description : How secure is the money I keep in an online checking account?

Last Answer : It is very safe to keep money in an online checking account. You can read about the safety measure of Bank of America at www.bankofamerica.com/deposits/checksave/

Can a 16 yr. old open a checking account without a parent's signature?

Description : Can a 16 yr. old open a checking account without a parent's signature?

Last Answer : There are some banks (for example First Bank) that will allow you to open a checking account without parental consent if you are under 18. You should check with individual banks around your area.

How is a business checking account different from a personal checking account?

Description : How is a business checking account different from a personal checking account?

Last Answer : A business checking account is different from a personal checking account by the minimum amount of desposit. You can read more at www.business.com › Directory › Financial Services › Banking

How do I deposit checks and cash if I have an online checking account?

Description : How do I deposit checks and cash if I have an online checking account?

Last Answer : You use the automated clearing house (ACH) system. Your employer can direct-deposit your earnings into your online account, and you can access them using a debit card provided by the online bank.