Birth certificate and government benefits card or.
Can i open a bank account for my child without a birth certificate.
They ll need a parent or guardian listed on the account as a joint owner.
Once you find the right bank account you ll likely need to provide details for you and your teen such as address dates of birth and social security numbers.
Have the following info handy.
As a result you ll need to open the account with your name on it as well.
Your child s birth certificate.
But minors will need a parent as a joint account holder.
Passport or driver s licence or.
You can open a youthsaver account and a smart access account for youth online at the same time.
Interest your grandchild earns on their savings may not be subject to tax if a grandparent gave them the money.
When the child turns the appropriate age 18 or 13 if you convert it to a checking account you can go to the bank and remove your name.
Some banks ourselves included allow children aged 14 year or older to open a bank account themselves.
Pop down to your local bankwest branch with an original or certified copy of one of the following.
Children under the age of 18 are not legally allowed to sign documents.
Where you can open a bank account.
If you ve already.
You can open chequing or different types of savings accounts at financial institutions such as a.
Two forms of primary id without a photo e g.
Make sure you understand all the terms conditions and fees of the account before you sign up.
With a standard joint account each account holder has 100 access to the funds so either the adult or the child can drain the account and rack up overdraft fees unless the bank restricts what the child can do.
Opening an under 18 bank account.
There are several options when setting up savings accounts for kids.
Setting up the account.
Keep that in mind before you set your child loose with a large available balance.
Can i set up a savings account for my grandchildren.
Ask questions about anything that you don t understand.
Opening a bank account in your child s name can help them learn how to save money and budget for big purchases.
Joint account risks.
.
As a grandparent you can open a savings account in your grandchild s name as long as you have proof of their identity like a birth certificate.
One form of primary id with a photo i e.
Joint ownership this option gives your child the ability to use the savings account while you monitor account activity.
Keep a copy of your account agreement for your records.
Minors can t open a bank account by themselves.
