setting up accounts across country

epiphany
Mon, 27 Dec 2004 14:55:36 +0000

How do bank account set-ups occur when you’re moving across the country to attend college?
D turns 18 in summer. She’ll be going back East to college. Her West Coast relatives, where we live, will be releasing to her in summer an UGMA CD to help with college expenses. I currently have a small custodial account for her with my own bank, so I believe that the $ can be immediately deposited in our West Coast institution. But then there’s the matter of transferring it to the East, since she’ll need local access & a local address on any checks she writes.

Do families in this situation merely wait until the student moves back East? (I’m traveling there with her to see her off. – Don’t laugh at the comment; some parents do not.) Do you just plan some extra days to set up things like a bank account, etc.? And she has a passport & current h.s. I.D., but will she need a local “Drivers’ License” type I.D. in Connecticut to set up a bank account? (She does not have a current DL, & won’t have one anywhere for some time.)

None of her college funds will be tied to mine. That is not even mainly for some strategic purpose; it is merely reality, as there are no other college funds for her other than the college’s finan. aid & the UGMA.