Getting a debit card at 15 and questions having to do with that

Question

I'm 15, and I'm starting my new job soon. Since we're paid in checks, someone told me I should get a debit card/checking account so I don't have to cash them all the time. I want one, but don't you have to cosign with a parent? What exactly does all that mean?

And the bank I want to go to is half and hour away, it's my dad's bank. My mom's is 10 minutes maximum away. Could I deposit my checks at like an ATM and have it go to my account? Or would I have to go all the way to that bank to deposit it?

Please also answer any other questions a 15 year old might have about this, or things I should know.

Thanks!

And don't say I don't need one, please. I didn't ask this for people to go on about how corrupt the youth is today. Blah blah.

Answer 1

lol..the corrupt youth. I actually think that you SHOULD get one and start a foundation of financial responsibilty for yourself young. I have a coworker that is your age and he uses his parents bank he HATES it because his parents control his spending and that actually makes him want to spend more.

Yes you have to have a parent co-sign at your age, all this means is they are resonsible for anything that happens to your account..most parents don't do it especially if theres a debit card involved, overdrafts happen easily to everyone when they are not keeping a record of every transaction.

Your bank is pretty far awaay, moms bank is closer and she'll probably be accessing it weekly, if she's depositing and then giving you the cash then your good, cash is a rare thing now a days those most every place you go has a credit/debit swipe for convenience, thats not to say some people use cash. I'd rather lose cash then my entire account on my debit card to tell you the truth. So even though I have a card I only take out 20.00 from the atm and it lasts me for the week everything else I write checks for.

YOUR best bet for your own account is direct deposit since your bank is far away:

When your employer sends your pay directly to your checking or savings account rather than issuing you a paper check, you're participating in Direct Deposit. These deposits arrive and are made available to you more quickly than paper checks, and can be automatically divided among different accounts based on your direction. You don't even have to go to your bank.

If your using moms bank she may open up a savings account for you that you can get money from any atm..some fees may apply. Otherwise she'll just give you some cash here and there at her discretion.

It's really up to your mom you won't be able to do anything yourself without the co-sign though:( I know what it's like to be in between adulthood at your age, but your doing great to have a job and want to be independent, all that money will go to good use your senior year if you use it wisely!

Good Luck

Answer 2

ok youll still have to cash your checks if you  get an  debit card checking account unless your job has direct deposit youll have to ask that way your money will already be deposited in your account for you and you shouldnt have to have a parents co-sign not sure but you might anyhow youll just have to open an account useually they want an minimum of $50.00 dollors to open your account and you cant deposit your checks at an ATM (automatic teller machine) this is just to take money and to check balances you can deposit your checks at a bank of the same name if there is any closer than your dads only if there the same name  hope this helps im sure your parents  can also help you

Answer 3

BECAUSE YOUR A MINOR YOUR PARENTS DO HAVE TO BE ON YOUR ACCOUNT. YOU COULD DEPOSIT AT ANOTHER BANK, BUT SINCE THEY HAVE TO TRANSFER MONEY FROM ONE BANK TO ANOTHER IT COULD TAKE 7-10 BUSINESS DAYS FOR THE MONEY TO SHOW IN YOUR ACCOUNT. I WOULD JUST GET A BANK ACCOUNT AT THE NEAREST BANK FOR NOW.