answersLogoWhite

0

You should open a savings account for your child the same day you receive their social security card. You should open a checking account on your 18th birthday.

User Avatar

Wiki User

14y ago

What else can I help you with?

Related Questions

Procedure for opening of Bank Account for Blind Person in India?

The procedure for opening of bank account for blind person in India dictates that they cannot open an independent account. They are required to open a joint account with a sighted person.


What is Account Opening Department in bank?

As the the title implies: Account Opening Department, it is the department or person you will be directed to if you wish to open an account in a bank or building society.


Can any one close account if their name is not on it?

No. It is a banking policy to verify the security and identity of the account. If the person is not on the account, or they do not have Power of Attorney, we will not close the account.


What is conventional banking and electronic banking with the usage of atm's and credit cards?

The conventional banking system requires the customers to personally present themselves in a banking institution to open an account. Members can open a bank account and transact business using the internet in the electronic banking system.


How do you register for online banking?

First you must open a bank account with a bank that has an online banking feature. Then in most cases you would have to go to your bank to setup your online banking account. When you setup your account the person setting it up with you will have you make a password and choose security questions.


Can a person open a checking account if their account was closed at a different bank?

Yes. However, if your account was closed due to a negative balance that you failed to repay, you might have some difficulty. Banks report these "charge-offs" to credit reporting agencies other than those used to verify credit for a loan. If a bank, during their account opening process, sees that you have caused another bank a loss on a checking account, they most likely will not open a new checking account for you. The best remedy is to pay the bank that is reporting the loss and start the process over. Good luck!


What are some banking tools that give a person access to their accounts?

Some banking tools that allow customers access their account are:Visiting the BranchOnline BankingMobile BankingUsing the ATM andTelephone Banking


Can business use Ulster bank at anytime?

If a person/business qualifies for an online banking account then they can use the Ulster banking system online at anytime.


What is an fob trust?

FBO means "for benefit of." In banking, an FBO trust is an account typically set up as a donation account for the person whose name the account is in.


Is there an internet banking for the bank of Queensland?

There is an internet banking option online for the bank of Queensland that is accessible via computer with the person's registered bank account information.


How is personal banking effective?

Personal banking is effective on many levels. It can teach a person personal banking responsibilities at any age. The banker can have access to their own personal bank account in many ways, including internet banking.


How can I pay an overdraft on my account?

To pay an overdraft on your account, you can deposit money into your account to cover the negative balance. You can do this through online banking, mobile banking, in-person at a branch, or through an ATM. It's important to act quickly to avoid additional fees or consequences.