Question

How can a minor open a savings account?

Answer 1

just go to the bank. You'll have to put the account in two names: The minor and an adult.

Answer 2

It depends on what you are planning to do with this savings account. If you and the child want access to it anytime, then open it at the bank.. . The following options should not be opened at the bank (because their rate of return is horrible and they don't offer that many investment choices to choose from).. If you plan to have the child use it for college only, then go to a financial company or directly to a mutual fund company and ask for a 529 plan (there's another one, but I forgot whats it called).. If you just want to send money to the child as "gifts", open a UGMA account at the financial company or mutual fund company. Remember, with UGMA account, money you give to the child's account are irrevocable. That means you have no access to the money, only the child does when he reaches the age of the majority (which is 18-21).

Answer 3

You need childs social security number and you need to be and it doesn't matter if your the parent or not contrary to popular belief....a god parent or grandparent could open one as long as it's savings not checking ultimately it's up to the adult on the account.....but just go to your local bank or credit union and you can open one up.

Answer 4

go to the bank and tell the person with the tie on that you want to open a saving account for a minor.

Answer 5

Take them to the bank and open a joint account with the parents name on it.

Answer 6

parent opens a child account for him/her

Answer 7

just like u would for urself except u tell them its for ur kid

Answer 8

you need a photo ID, birth certificate, and a you have to be attached to a parent or gaurdians account.