ECONOMICS
BUDGETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
between 5-8 years old
|
|
|
between 13-15 years old
|
|
|
between 18-21 years old
|
|
|
None of the above
|
Detailed explanation-1: -At most banks, you can open a teen checking account when your child is 13. One parent is usually required to be a joint owner until your child turns 18. As a joint owner, you’ll have the ability to monitor and access this account if you wish.
Detailed explanation-2: -Yes, but with some conditions. Those under 18 are often required to have a parent or guardian present, who may need to be an owner or co-owner of the account with the teen.
Detailed explanation-3: -PNB Junior Savings Fund Account If the minor is below 10 years of age, it is important to have a parent/guardian to operate the account. Children between 10 to 18 years of age can open and operate their savings bank account independently.
Detailed explanation-4: -However, different banks may ask you for different types of information to open an account depending on the child’s age. For example, if they are age 11 – 15 we’ll need the child’s parent or guardian with them to open a bank account with us.