Visit a Wells Fargo location to open an account. Child must either present a driver's license, if they have one, or be accompanied by a Wells Fargo customer who is an adult and has an account that has been open for more than 60 days. In addition, you must present one of the following: Child's Social Security card.
Can I open a bank account for my child?
Minor children by law can't open a savings account. They need a parent or guardian to set up a custodial or joint account. A custodial account is the property of the child, but managed by the parent until the child turns 18. ... And just as with your money, make sure your child's account is FDIC-protected.2020-08-05
Which account is best for minor?
- 2.1 SBI Savings Account for Minors.
- 2.2 HDFC Bank Kids Advantage Account.
- 2.3 ICICI Bank Young Stars Account: Savings Account for Minors.
- 2.4 Bank of Baroda Kids Bank Account.
- 2.5 Axis Bank Future Stars Savings Account.
- 2.6 PNB Junior Savings Fund Account.
- 2.7 Kotak Mahindra My Junior Account.
Can a family member open a bank account for a minor?
Minor children by law can't open a savings account. They need a parent or guardian to set up a custodial or joint account. A custodial account is the property of the child, but managed by the parent until the child turns 18.2020-08-05
What are the requirements to open a bank account for a minor?
- Your child must be 14 years old or older.
- Both you and your child must be present.
- You must both have a valid primary ID, such as a U.S. State Driver's License, a U.S. State ID Card or a U.S. Passport.
- The primary ID must have a photo, and it cannot be altered or expired.
Can I open a bank account for my minor child?
Minor children by law can't open a savings account. They need a parent or guardian to set up a custodial or joint account. A custodial account is the property of the child, but managed by the parent until the child turns 18. ... Both types can later be converted to their own accounts.2020-08-05
How do I open a bank account for my child?
Minor children by law can't open a savings account. They need a parent or guardian to set up a custodial or joint account. A custodial account is the property of the child, but managed by the parent until the child turns 18.2020-08-05
Can a minor be an account holder?
Custodial Account For your child or grandchild under the age of 18, who will be listed as the primary account holder. Your child or grandchild will not have access to the money in this account. You can manage the money on behalf of your child or grandchild. Choose a savings or share certificate account.
What age can you get a Wells Fargo card?
Everyday Checking customers have other ways to avoid the monthly service fee. Customers between 13 and 16 years old must open the Clear Access Banking account with an adult co-owner.
Does Wells Fargo allow minor accounts?
This option gives your child the ability to use the savings account while you monitor account activity. Both you and your child can make deposits and withdrawals. ... The account may be linked to a Wells Fargo Debit Card. Wells Fargo Online® access is available when your child reaches age 13.