Hi, I’m looking for some advice. My daughter recently received checks for her 13th birthday.
I use Aspiration bank online, but they don’t allow deposits for minors. We’ve visited several brick-and-mortar banks, but they all require a minimum balance and charge monthly fees, which isn’t practical since the checks are only a few hundred dollars.
Does anyone have suggestions for finding a bank where I can cash her checks?
Hello, Consider visiting a credit union. You might need to open an account as well to link hers to yours. Once she reaches legal adulthood, you can separate the accounts.
Hey, You’ll likely need to open an account for her at a local bank. My son had a bank account at that age with me listed as the adult on the account.
Hi, If she endorses the check and you also endorse it, there’s no reason you shouldn’t be able to deposit it into your account. Once it clears, you can give her the cash.
Hello,
If you have a birth certificate, most banks will permit you to deposit it into your account since she’s too young to have her own.
You could also use the checks to open a custodial account and start saving for her future expenses, like college or a car.