Can a 17-year-old international student open a bank account in the US without any co-signer?
No. Absolutely not. You must be 18 to open a bank account without a cosigner. Your citizenship status is irrelevant.
Can someone create a U.S. Military bank account and make use of it in any part of the country?
Let me guess.You fell in love with someone who says they are in the military and stationed over seas.You text them all the time. Trade photos. They can't video chat…. security reasons.They can't send you their email address…must end in .mil and nothing else, security reasons you know.Maybe they can't chat real time either…that pesky security again.They need money…can't access their bank account…security again, or because they are overseas.They are not now and have never been in the military and they have never been in the US.YOU ARE BEING SCAMMEDDON'T SEND MONEY TO THEM IN ANY FORM, NO ITUNES OR GREEN DOT OR WALMART CARD.NO WESTERN UNION OR MONEYGRAM.YOU ARE BEING SCAMMED.YOU HAVE BEEN WARNED
Can a 14 year old open a bank account?
In the U.S. you can open your own bank account, if you walk in with your money, and say you want to open an account, someone will sit down with you, and help you. Be very careful to get an account that doesn't charge you a fee for having too little money (yes, that is a common thing). So, call a few banks, and pick the one that is closest to you, that has an account that doesn't charge a fee.PayPal might have an over 18 requirement, I don't know.There are some banks that will give you a "debit" card, without a fee. Then you can use that the way adults use "credit" cards, except there is no "credit" and you don't get a bill, they just take the money out of your account. But you use it like a credit card, and when you buy something, you put in all the numbers on the card, like it was a credit card.For both things--the bank account and the debit card--your bank can help you. Some banks have nice people, some really don't. So call first, and see that you talk to someone nice, who will help you.When I was a kid, I walked a couple miles to the bank, with some birthday checks, and started my own account. It was confusing, but the lady at the bank was very helpful.Good luck!
I need a bank account but I am under 18. What should I do?
Hi Luke,It depends on your age, the bank and what you work out with your parents. If you’re under 14, most banks will let you open a special account that your Mom or Dad take care of but you own the money. You or your parents can put money in but only they can take it out.When you turn 14, some banks will let you take the money out by yourself if your Mom and Dad agree first. US Bank and Wells Fargo Bank will do this, for example. But when I opened my teenage daughters account at Bank of America a few years ago, I was still the only one that could take the money out, So be sure to check first what the bank rules are.Also, when you open the account, be sure to ask if the bank charges fees for the account. If you don’t put a lot of money in your account (and I didn’t have a lot of money as a kidj, the bank will usually want some money each month to take care of it for you. If you don’t watch it carefully, sometimes they will eat up all your money in fees. For example, if you only put $75 in the bank in January, and the bank charges $15 a month for fees, all the money will be gone by June.The good news is that if it is the same bank your parents use, most of the time they won’t charge you anything for your account.When you turn 18, you can open a regular account that you control by yourself.A lot of adults don’t know how banks work so it’s great that you’re starting now. Put as much as you can in, take out only what you really need and you’ll be surprised at how fast it adds up. Save up as much as you can.
Can I open a US bank account as an international student?
Yes, you sure can. No one can lug around loads of cash for every day expenses. In fact, it can be dangerous, so don't.You'll need a valid ID (passport will do), a proof of your visa/I-20, and some cash to deposit (obviously).The rules may vary slightly from bank-to-bank. Some banks even offer student accounts (these have laxer rules in terms of minimum account balance and other such things).Most banks will let you open a debit and a savings account.If you want to open a credit account, meaning you want to apply for a credit card, you'll need to produce proof of income and also have a social security number.As a student, you can work on-campus. The human resources of the university will then put you on a payroll and provide you with the required documents to apply for a SSN and a credit card.It is wise to have a SSN and a credit card because it helps in building a credit history.
Can a US incorporated LLC have a non US bank account and will that make it more prone to an audit?
A US LLC is not “incorporated” - but let’s get past the formalities… and assume we have a domestic LLC. Having a bank account offshore is not illegal, and many LLCs which engage in activities in foreign countries have them. Will that make the LLC more prone to an audit? The answer depends, but in general, any offshore activity raises the audit flag more than completely domestic activity.If there is a valid business reason for the offshore account, I wouldn’t worry about it. If the presence of the account is an anomaly and is not related to some business purpose, then I would be very concerned, and would generally advise any company, LLC, partnership or Corporation to avoid anything which might be misconstrued. For, as in many things, the appearance of propriety is sometimes just as important as being proper.
How do I open a bank account in Pakistan as a US and Pakistan dual citizen?
The primary requirement is a NICOP which is the National Identity Card for Overseas Pakistanis if you are not residing in Pakistan for 6 or months in the calendar year.If you are resident in Pakistan then you can use the same NICOP or regular CNIC to open the account.Note you will not receive a debit or credit card if you present a NICOP and dont show that you are a resident in Pakistan.With the tightening of regulations you will be required to provide evidence of the source of income.Also note foreign currency accounts are subject to stricter regulations. No atm withdrawal in foreign currency permitted. No online transactions are permitted either. All foreign currency account transactions will be over the counter in person.
Banking: I am a 17 year old Indian student wanting to open a bank account. What are my options?
Since you are a 17 year old, you cannot open a regular savings account. However, you can open a savings account with Kotak Bank with the help of your parents/guardian. They call it as Junior Savings Account. You can deposit your saved amount from your pocket money. Best thing is that can earn interest of 6% which is highest in India. They will also provide you a debit card for day today transactions.Once your attain the age of 18 years, you can visit the bank with your Aadhaar (UID) Card and PAN Card and request them to convert this Junior Account into a premium savings account offered by Kotak Bank depending on your needs. There are as many as 12 savings account offered by Kotak Bank if you are above 18. They also have zero balance savings account. To know more about savings account, visit Kotak Mahindra Bank website.