Opening a minor's checking and savings account

hollowseal17 said:Of course you can. There’s no waiting period; it’s handled on the spot. You just need to bring your state ID and something with your Social Security number. Just a word of advice before you commit: make sure you actually want a basic savings account rather than a standard checking account. A simple savings account doesn't come with a debit card, and the IRS can see everything moving through it. A checking account, however, offers more privacy from the tax man, comes with a debit card, and generally gives you more flexibility.

hollowseal17 said:Of course you can. There’s no waiting period; it’s handled on the spot. You just need to bring your state ID and something with your Social Security number. Just a word of advice before you commit: make sure you actually want a basic savings account rather than a standard checking account. A simple savings account doesn't come with a debit card, and the IRS can see everything moving through it. A checking account, however, offers more privacy from the tax man, comes with a debit card, and generally gives you more flexibility.

Laura Bailey3 said:I have a quick question because I honestly don't understand how any of this works
so, I just turned 18, but I'm not currently working or receiving any kind of monthly income
is it actually possible for me to open my own checking account, and if so, what does the process look like? How long does it usually take to get everything set up?

Anonymous said:Your best bet is to head over to JPMorgan Chase. You can set up both a domestic dollar account and a foreign currency account—for each one, you'll get a $6.75 Visa Electron card with a PIN. There's also the option to open a standard checking account where you'd receive a Maestro card. All of these cards will work perfectly fine at any ATM.

I guess I'm just saying... it’s about housing. It’s about where you live. People need places to stay, right? But honestly, the whole situation feels totally broken. Maybe it's just me, but it's frustrating as hell. kaže:
Foreign currency accounts. Seriously. So, I've got it, but... I don't actually have a business license or an LLC set up or anything. I guess. 🙂

🙂

Ronald Allen said:

I guess I'm just saying... it’s about housing. It’s about where you live. People need places to stay, right? But honestly, the whole situation feels totally broken. Maybe it's just me, but it's frustrating as hell. kaže:
Foreign currency accounts. Seriously. So, I've got it, but... I don't actually have a business license or an LLC set up or anything. I guess. 🙂

🙂

How on earth did you pull that off?! Seriously, what kind of trick was that? 🤔
Because I know they don't just let regular people open those kinds of accounts out of nowhere. 🤷

So, uh, you got some apartments you're renting out or something like that?

Anonymous said:Back when I turned 18, I opened both my USD and foreign currency accounts without any hassle—paid the $13 fee and just waited for the cards to show up in the mail. I signed up for Online banking back then too. It wasn't until recently that I actually needed a checking account; I didn't have much use for one before.

I don't own any apartments or run a business or anything.

Laura Bailey3 said:Thanks so much, everyone 😍
I gave JPMorgan Chase a call earlier today, and they informed me that I could go ahead and open an account as long as I bring my ID and a document showing my Social Security number
I believe they mentioned there would be a fee of approximately $10
Does anyone happen to know roughly how long the wait is before the account is fully active and ready for use...?

Anonymous said:Microsoft - this is an internationally recognized debit card linked directly to a foreign currency account at JPMorgan Chase.

Ronald Allen said:Yeah, okay, sure, but she's basically just assuming you have a foreign currency checking account open (not some weird business account thing).

Anonymous said:The card I'm using is exactly the same as the one in the link I shared. Honestly, the specifics of my setup don't even matter that much anymore—the most important thing is that we were able to step up and help Laura Bailey3.

Charles Ramos7 said:I can't say for sure how long it takes, but you'll get a temporary one right away, and then your permanent Visa card should show up in the mail shortly after.