Budgeting Expenses

Teaching Our Children About Finances

What is the minimum age for a child to open a bank account?

There are no minimum age requirements for opening a bank account. Some banks will allow a child to open a direct account in his or her own name, and others allow someone to open a custodial account for that child.

It might be surprising to find out that most parents do not take the time to teach their children basic skills in handling money. A few basic lessons can go a long way toward helping your children manage their income wisely.