Savings Account for 14 year old?

Question

can i open a savings account? How much would it be? i am just fourteen years old, i would like to know out of personal experience only

Answer 1

Since you are legally an "Infant" until 18 you will have to have a parent go to okay the account, which will basically be a kiddie account. It is the fees that make it so your parent has to okay it. You should get an account with no fees or the bank will really steal all your money!  

Answer 2

Go to the bank and ask what is required you may be able to

Answer 3

Go to the bank and ask if you can make a "Student Account."  They will require one of your parents to be present because they are still your legal guardian.  By creating a student account, they dont have a minimum balance that you need to keep in there and if there is one it is usually very small like $5.00.  The other benefit of it is that there is no fees associated with it because they hope to get your business when you grow up.  When you turn 18, tell them that you want to cancel your account and create a non-student account and they will take care of all the work for you.  Honestly though, if you were like me at your age and had a pretty good amount saved up, I would invest in a CD (Certificate of Deposit).  Chances are you aren't going to take much money out of your student account so if you make a CD, there will be higher intestest (but the catch is you can't take the money out of that CD until a certain time period has passed, usually 1-2 years).  Banks also issue CDs and they will give you a good break down of which one is best for you and all the about it.  Good Luck, Hope This Helped!!