Financial Information
What is the highest yeilding interest checking account for a minor? Why doesn’t ING have an acct for a minor?
Question : What is the highest yeilding interest checking account for a minor? Why doesn’t ING have an acct for a minor?
high interest checking accounts
Best answer:
Answer by Faye H
A minor cannot legally sign a contract so no matter what checking account he opens, he’s going to need a parent on the account too.
If banks let 15 year olds open checking accounts and they bounced checks, who would be liable? All banks that I know of, require a parent to also be a signature on the account.
Someone over the age of 18 would have to be the custodian regardless. I don’t know of any bank that would allow a minor to open any account without a custodian.