Saving money in bank?

Question

hey guys. iam 13 years old and i have a Q.

Is there any way where i could open up a bank account or a checking account whutever its called and and put some money like 200 bucks. then will it grow in the bank like in a year. can you guys anwer or tell me about this checking accounts and stuff

Answer 1

Sure you can but in most places you will need a joint account holder, i.e. your parent to open the account with you and you would want to get a savings account or better yet let your parents invest the money for you in mutual funds

Answer 2

no the money in a standard checking account won't grow. yes you could perhaps open an account with your parents agreeing or signing some papers