Unfortunately, he’s still in HS, which ruled out one bank that I found. So far I’ve found nothing yet except Key Bank and also State Farm (Insurance) Bank - for the latter believe it or not the minimum age for an account is only 13 - and this was almost a solution as there are certain partner banks that accept deposits for State Farm accounts at their ATMs - unfortunately none in our borough. Checked out quite a few bank websites and most don’t mention their minimum age requirement - so still looking…</p>
<p>While not a checking account, you still could get an account as my D has at Commerce bank that allows her to make deposits and also withdraw cash at the ATM machine. She can’t write an actual check on this account. But with something like this, your son could deposit paychecks from his job and take out cash to pay someone like you when he owes money. It is better than nothing.</p>
<p>Yes, that statement was a meant to be funny, as the parent being a source of cash. This is a checking, not credit account, and we have had the talks about responsible spending and budget</p>
<p>Bank of America opens Student Checking accounts for 16-18 year olds, with no fees, no minimum balance, etc. for 5 years. Also, during orientation at most schools, there will be bank reps. who will open accounts for students, all they need is some ID (driver’s license/passport/college ID), and a SSN#. And of course some cash or a check to deposit.</p>
<p>My 16-year-old just got his first job (happy dance!), and I had planned on him opening up a checking account this weekend. Thanks to this threat, I called the bank and found out that <em>I</em> can open another account jointly with him, but my name will be primary. We can get a debit card to this account that he can use, but it will be in my name. I had never thought about the fact that he might not be able to get a checking account!</p>
<p>For what it’s worth, this is Flagstar Bank.</p>
Doesn’t work for me - requires that the student is already in college (my S is still in high school). Also no fees applies only if parent has an account with B of A or if student has direct deposit.</p>
<p>S has United/Chase credit card with us and an ATM card from our credit union. He has very little need to use a check other than to pay occasional school fees. Using an out state check account is a hassle so a credit card and ATM card for cash is easier ( no fee). He discovered last week that his ATM card was not being accepted (demagnetized), CU told him go to a member credit union, show his ATM card, picture ID, and the money is his. </p>
<p>All cards have his name embossed even though he is not primary on these joint accounts. The accounts are joint because it is easier for us to monitor, deposit and manage cash flow into and out of the account. Any discrepancies can be remedied by us, without authorization vs a need to be continually authorized when under a single name. </p>
<p>He has a citi debit card even though we are in a state without a citibank facility but alas he left the card at home. The citicard is to be used on travels.</p>
<p>You definitely need a debit card. I didn’t have one until April, but it’s great because I don’t have to carry large amounts of cash around anymore. I’ve had my own checking account since then as well (I turned 19 in September) and I’ve written a grand total of four checks. The debit card, though, is something I use all the time. It’s also saves a bit of time at the bank because I can just put the checks in and not have to worry about getting cash. Even with a debit card, though, I’m uneasy if I have less than $50 cash out…what if the debit system malfunctioned or even worse, the 1930s repeated themselves and FDIC proved to be bogus? Also, some places like mom and pop hardware stores usually don’t take debit.</p>
<p>Did you check Apple Bank? My S opened his own account when he was about 16 (it was a savings account, though) and I was startled that he did not need my permission/signature. I am not sure if he has it linked with an ATM card, debit card, or such.</p>
<p>Finally decided to go with Chase - they offer their regular checking accounts with a minimum age of only 17 - however unless you maintain a large balance or receive a monthly direct deposit you have to pay a monthly fee. Decided that it would be worth it to pay the fee (for now) as a trade-off for the convenience - and either start direct deposit when S gets his next part-time job (if available) or wait until he’s in college at which point Chase offers a free account for college students. Thanks to everyome for their suggestions and feedback…</p>
<p>Son was 17 when he opened it, but had college acceptance in hand. Bank manager was alum of son’s intended college and said he wasn’t really supposed to open 'til son was 18, but would waive mandate because son had been accepted and was all set for college. </p>
<p>Free checking - free check card - Visa card (credit line) with overdraft protection and link to mom’s account for instant money transfer (I call on the phone and transfer funds instantly)</p>