Account opened for children under the age of 18

Open a bank account under the age of 18? Can individuals under 18 years of age open an account in banks? Since banks have become intermediaries for us in almost all of our transactions, people under the age of 18 may also need to open a bank account. Since some payments such as scholarship payments and government subsidies are made through banks, these people may have to open an account and issue cards in banks. But people like this without reason, knowledge can make or want to open a bank account for normal use. Although not all banks, most banks are able to open bank accounts by submitting them under parental supervision for persons under the age of 18 . What do I need to open a bank account? Can he open a bank account for people under 18?

Is a Bank Account Open for Children Under 18?

Is a Bank Account Open for Children Under 18?

There are many principles applied by the banks themselves. In addition, the state has obligations and rights. Laws, which are often in the interest of the customer, also address some important issues for people under the age of 18. The first of these is the opening of bank accounts and credit issues . When the general conditions of the products you will use from the banks are taken into consideration, if there is a clear provision under these conditions, this means that the people who can benefit from the banking products must be over 18 years of age .

However, banks can open a bank account for people under the age of 18 for normal use and make savings and invest in the future. If you want to open a bank account for your savings or normal needs, you can open a bank account with your family even if you are not 18 years old .

How to Open a Bank Account for Children Under 18?

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In order to open a bank account for persons under 18 years of age , it is sufficient for them to visit the bank branches with their parents. Bank branches have bank account advantages for those under the age of 18 . Many banks offer debit cards and account benefits for people under the age of 18. Thus, those under the age of 18 will be able to deposit money from their debit to their account, make secure purchases with a card and withdraw as much as they need when they need it.

The bank account opened to minors under 18 does not decrease to the negative balance. In other words , a person under the age of 18 cannot borrow or take an advance . Therefore, it helps children under the age of 18 to gain a safer banking experience and a better understanding of the economy. As you can see here, even if you open a bank account, you cannot benefit from the credit products of the bank.

Can I Draw Credits Under 18?

Can I Draw Credits Under 18?

Individuals under the age of 18 can not withdraw credit . By law, banks are not entitled to grant loans to individuals under the age of 18. This is entirely aimed at protecting individuals from under-18s from situations that may cause harm until they can make wise decisions. In this way, uncontrolled spending is prevented. In order to use credit, they must first turn 18 and enter the business life. Similarly, banks can lend according to income balance according to their insurance status.

Which Banks Open an Account for Those Under 18?

Which Banks Open an Account for Those Under 18?

Almost all banks give pre-paid debit cards to people under the age of 18 and open a bank account. As with all banks’ various practices, all of them open their accounts under family control. A person who is not at the age of 18 cannot make transactions when he / she goes to the bank branch alone and requires the consent of his / her family. After the age of 18, he can start to carry out his transactions by himself. You can choose the banks below to open a bank account for people under the age of 18