Can I Open A Bank Account For My Child Hsbc

But minors will need a parent as a joint account holder.

Can i open a bank account for my child hsbc.

Any co owner s creditors can get at this account in any legal action including divorce. On your 11th birthday we ll open a current account for you complete with your own hsbc visa debit card to shop in stores online or use at cash machines take your money out at the bank you can use your cash book to withdraw money from your savings account. Minors can t open a bank account by themselves. Joint account risks.

How to open a kids bank account. And if you re 11 or older you can open your very own myaccount current account. Co owners are easy to add but can be hard to remove. Keep that in mind before you set your child loose with a large available balance.

They ll need a parent or guardian listed on the account as a joint owner. If you add your child to. 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. 1 if your child is under 18 and unable to manage finances independently you may choose to open the children savings account on their behalf and all transactions must be authorised with your signature s.

Hsbc mymoney makes it easy to take good care of your money. 2 there s no charge from us if you pay money to or receive money from accounts from other banks via faster payment system fps but other banks may have different charging policies.