Comments on: How much money should I save until I start a banking account?

By: Ret. Sgt.

Ret. Sgt. — Wed, 07 Jan 2009 08:46:47 +0000

You can open an account with as little as 25 dollars. You will get interest but standard savings account pay poorly. I’d say they pay about or less than 1 percent. You can get up to 3 percent but that is with CD’s or ING Direct Orange. CD’s require about a thousand bucks to open and ING direct requires 250.00 but I doubt either will allow you to open it on your own due to your age.

Starting any savings account is a smart thing to do as long as you can keep from taking the money out.

By: Antonia R

Antonia R — Sun, 04 Jan 2009 05:11:14 +0000

I AM 13 AND HAVE THE HIGH SCHOOL CHECKING ACCOUNT WITH CHASE.

THE MINIMUM TO OPEN WITH THEM IS $25.

LOOK INTO IT.

Many students will discover the importance of managing their money when they open their first checking account. Chase offers a uniquely designed checking account to help students in high school learn the value of financial responsibility.

High School Checking is a full-service checking account available to students between ages 13 and 17. This account is owned by the student jointly with a parent or guardian, provided that the parent or guardian maintains a separate qualifying linked checking account.
…

By: Puffy Nubs

Puffy Nubs — Fri, 02 Jan 2009 06:57:45 +0000

Suntrust and Wachovia both have incentives for opening accounts! Check them out!

By: cinnea

cinnea — Tue, 30 Dec 2008 13:11:11 +0000

Usually banks ask for an opening deposit of at least $100. Some banks may charge a fee if you savings account falls under a minimum level. Yes, you earn interest, though it isn’t very much, but it will depend on your bank. You will need your parents with you to open an account.

By: Sharon T

Sharon T — Sun, 28 Dec 2008 12:35:42 +0000

Check out a couple of banks near your home. If there is a credit union, check with them and see if you qualify for membership.

Many places a minor can open an account for $50. It may be higher but most banks will give a youngster a break, knowing they may stay a customer for years.

Yes, you will get interest but it may not be a very high rate. Ask the banks about that. You may be able to find some information at their websites but you can also call.

By: maggie

maggie — Sat, 27 Dec 2008 10:44:56 +0000

You should open it with at least 100.00 that is what is required by most places and on a savings account it a little interest usually i think around 3% talk to the bank when you go to do it and they will tell you gladly