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Can a Minor take money out of their account?

Updated: 8/16/2019
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Q: Can a Minor take money out of their account?
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What can you do with a minor in finance or accounting?

If you use a Wachington Mutual bank, you may be able to open an account in their name. But, here's the catch. An adult can only take out money from the minor's account. Wow, that's not the kind of "minor" the asker was referring to. -______-


What age do you have to be to draw money from your savings account?

18 Depending on your state, if the account is a UTMA/UGMA (Uniform Transfers to Minor/Uniform Gifts to Minor), the minor may not be able to withdraw money until s/he reaches 21.


Can you deposit money into a surrogate account that was set up for you when you were a minor even though you are no longer a minor?

So long as you have the account details, (sort code, account number etc) and the account is still 'live' (ie - hasn't been closed) then yes !


Can you take money from your spouse's account?

Only if your name is on the account.


To take money out of an account is?

A withdrawal.


Can you take money out of your lunch account?

NO


If you deposit your money into another persons bank account can they take money out of their account?

It IS their account. The only way to keep the money in an account is to sign up with them for an account that requires both signatures for withdrawal. Otherwise, the money will be used.


What if your not the primary name on the bank account can they take your money for a school loan?

The names on the account are irrelevant. If you've given them the account number, the school will take the money from the account - whether you're the primary name or not..


What is it called when you take money out of an account?

withdrawl


Can you take money out of an account with only a account number?

Nope - you would need much more information than just an account number - otherwise anyone could take money out of anyone's bank account !


What if its disabilty money in your checking account how would a lien work then?

if you have a lein on you, can they take your disabilty money out of your checking account


How much does a single collection account affect your credit score?

a account where it is only yours and nobody elses only u can take out money from that account a account where it is only yours and nobody elses only u can take out money from that account