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    Speak Up! - View Question #21044

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    Question: How old do you have to be in Arizona to have your own bank account?

    Answer:

    Normally you have to be 18 years old to open bank accounts, enter into contracts or own property. However, in Arizona there are some exceptions. First, some banks offer checking accounts to students aged 16 and 17 on their own. And most banks will allow any minor under the age of 18 to open a savings account on their own as well, with very low fees and minimum balance requirements to help young people to get started saving money at an early age.
    Comments
    1 thru 3 of 3 comments    [ 1 ]   
    On 07/17/08
    Georgi from AZ said:
    if you're under 16, what you can do in Arizona is, get and AZUTMA (Arizona Uniform to Minors Account)It's basically an account with your name on it with a parent or guardian as a trustee for it. So, yes you can have an account. My son has had one since he was about a year old. it gains interest just like a savings account. Money is easily transferred between accounts in the same bank. When you turn 18, the account can be switched to your name only or may have to be switched to a new account.
    On 09/27/07
    kiara from MI said:
    i believe as long as you have a little bit of money here and there and you want o start planning for your future by savung you should there should be no age limit on saving moneyh in a mank
    On 10/12/06
    marissa from AZ said:
    well i think thats dum well because my friends live in pheonix and i do to zmd they have a bank account and there only 11 and they went to the bank say anything about the age for 16 or 17 or 18 so see there i prove u wrong just kidding
    1 thru 3 of 3 comments    [ 1 ]   


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