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How old soes someone have to be in order to open up their own savings bank account?

Update:

I mean open up an account without their parents presence or consent

3 Answers

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  • 1 decade ago
    Favorite Answer

    Technically, as the age of majority has been changed to 18 recently, this is the age at which you can do anything without parental consent.

    However, at the age of seven a child may draw on a Post Office savings account and redeem National Savings Certificates. A child over 16 years of age is entitled to be a depositor with a bank or other deposit-taking financial institution and has full power, without the consent of a guardian, to deal with the deposit as deemed fit, including ceding, pledging and borrowing against it, and executing all the necessary documents.

    Source(s): Thats the position as I know it.
  • Anonymous
    1 decade ago

    There is not a certain age to open a savings account you just have to have your parents present and it will be in both your name, & one of your parents.

  • 1 decade ago

    i got mine at 13, i was working at a tattoo shop and i didn't like carrying my money around so went to a bank and they gave me one. lot of questions though but got one.

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