Can a Teen Open a Bank Account Online?
Can a Teen Open a Bank Account Online
If you’re a parent of a teenager, you probably know that they are technology savvy. They’re also becoming more independent and may want to open a bank account on their own. However, what if they don’t have all the required documents? Can they still open an account online? This guide will tell you everything you need to know about teen banking.
A Young Person can Open a Bank Account online today with the help of a Parent or Guardian
You can open a student bank account online today with the help of a parent or guardian. The process is quick and easy, but it does require some information from you. To open an account, you will need to provide the following:
- your name and address
- your date of birth
- your Social Security number (you will use this for all financial transactions)
- details about how you want to receive your paycheck or other payment (such as a direct deposit)
College students can use the SoFi app to open an account using their college email ID. After providing this information, the bank will contact you for more details about yourself. Once that’s done, they will send over an application for opening up an account!
Some Banks offer Special Accounts for young people
If you’re under 18, some banks may require a parent or guardian to open an account with them. The bank will contact you for more information and may require a parent or guardian to co-sign on the account. If they do, it’s important that parents understand how their child’s online banking works and that they monitor their spending and balances regularly.
Online banking can be convenient for students because it allows them to access their accounts from anywhere with internet access. Many banks offer mobile apps for iPhone and Android devices that allow teens to check balances, pay bills and view transaction history without having to go into a branch or call customer service.
You still need to Provide some Paperwork
You still need to provide some paperwork.
- Proof of identification: This includes a driver’s license, state-issued ID card or passport.
- Proof of address: This can be your latest utility bill or bank statement that shows your current address with your name on it.
- A copy of your social security card (if you’re under 18, some banks may ask for this).
The Bank will Contact you for more Information
Once you’ve provided all the information requested, the bank will contact you for more. They’ll need to see a photo ID and proof of address, plus a parent or guardian’s signature if you’re under 18 years old. If everything checks out, your account should be open and ready to use in just one business day!
Online banking is convenient for everyone, especially teenagers. If you want to help your child open a student bank account online, there are several options for you and them to consider. You can find a bank that offers special accounts for teens or has an easy process for opening one. You will still need some paperwork, though, so make sure that everything is in order before starting the process of opening an account together!
Review Can a Teen Open a Bank Account Online?.