4 ms·
They have credit /debit cards linked to parent accounts.
by Evbn 14y ago
They have credit /debit cards linked to parent accounts.
- timthorn 14y agoDon't they have debit cards in their own name?
- ams6110 14y agoPretty hard to do if you're under 18, banks want a legally responsible person to own the account.
- DanBC 14y agoDebit cards in theory do not allow any debt, thus there's not so much of a problem allowing under 18s to have them. See this UK account for 11 to 18 year olds which allows a debit card. (http://www.rbs.co.uk/personal/current-accounts/g1/young/revolve.ashx http://www.rbs.co.uk/personal/current-accounts/g1/young/revo...) HSBC give you a savings account when you're seven, and add a current account when you're 11, with a VISA debit card. (https://www.hsbc.co.uk/1/2/current-accounts/under-18-bank-account?HBEU_dyn_lnk=CurrentAccount_FilterTool_MyMoney_FindOutMore_ProductNameLinkButton https://www.hsbc.co.uk/1/2/current-accounts/under-18-bank-ac...)
- theatrus2 14y agoA lot of US banks still want 18-year olds or a parental guarantee. US banks love overage fees (making credit card interest rates an amazing bargain). Plus there is the liability of checks/ACH which can cause overdrafts.
- deleted 14y ago[deleted]
- notJim 14y agoI think debit cards are easy. I had one around 15 and my sister even younger. It was my account, but it was linked to my mom's so she should could transfer money into it.
- ruswick 14y agoI am under 18, and my bank allows minors to open an account independently. It's pretty common in the US.