1. Please change your bookmarks from https to http. Also clear up your HSTS!
  2. Please ensure you have read this document.

Does any bank allow customers under 18 to open a bank account under their own name?

Discussion in 'Social Chat' started by dejan, Sep 15, 2013.

  1. dejan Regular Regulars

    Joined:
    Apr 26, 2010
    Messages:
    371
    Likes Received:
    27
    I know many banks have services for customers under 18, but those accounts are opened only on parent's permission, and their accounts are linked to their parent's account, and is not an individual account. My friend is under 18 and wants to open an Individual account. HDFC banks and other banks have limitations for Under 18 accounts like maximum withdrawal limit i.e 2500 Rs per day, and no net banking. Please let me know if there is any bank which allows under 18 people to open an individual bank account
     
    #1




  2. mhsabir Xclusive Moderators Regulars

    Joined:
    Oct 7, 2006
    Messages:
    14,996
    Likes Received:
    1,529
    I dont think its possible to open without parent/guardian. May be it can be under their name, but a guardian will need to be associated to "maintain" an account.
     
    #2
  3. anant.del Addicts Regulars

    Joined:
    Jan 2, 2010
    Messages:
    7,402
    Likes Received:
    350
    a minor account....or under parental guidance, not individual !
     
    #3
  4. igloo Paskaa mera Paskaa Regulars

    Joined:
    Sep 5, 2008
    Messages:
    418
    Likes Received:
    75
    Well i was 15year old when i first opened an account in indian bank a national bank. But an existing account introduced by signing in my form.Visit any national bank and ask.
     
    #4
  5. ghpk Moving to NCR soon Regulars

    Joined:
    Aug 4, 2008
    Messages:
    1,746
    Likes Received:
    450
    I don't think any bank would allow you to operate a account on Own, if you are a minor,
    however bank may let you operate it partially once they are provided in writing by your parents.
     
    #5
  6. chromaniac It wasn't me. Moderators Regulars

    Joined:
    Feb 23, 2013
    Messages:
    197,546
    Likes Received:
    7,578
    I don't get it really. Kids should be allowed to manage their own bank accounts under parental supervision. Better to get them to learn money management from early stages.
     
    #6
    2 people like this.
  7. anant.del Addicts Regulars

    Joined:
    Jan 2, 2010
    Messages:
    7,402
    Likes Received:
    350
    they use their moms/dad's credit card probably :tongue:
     
    #7
  8. chromaniac It wasn't me. Moderators Regulars

    Joined:
    Feb 23, 2013
    Messages:
    197,546
    Likes Received:
    7,578
    If I had a bank account growing up, I would not have made the mistakes I made during the first few years of money making. I wasted so much money back then it's a freaking shame really.
     
    #8
    1 person likes this.
  9. igloo Paskaa mera Paskaa Regulars

    Joined:
    Sep 5, 2008
    Messages:
    418
    Likes Received:
    75
    Well i had one and i still wasted. don't regret like old ladies ;)
     
    #9
  10. chromaniac It wasn't me. Moderators Regulars

    Joined:
    Feb 23, 2013
    Messages:
    197,546
    Likes Received:
    7,578

Share This Page

Users Viewing Thread (Users: 0, Guests: 0)