Can a child under 14 years of age manage a deposit?

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monira444
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Joined: Sat Dec 28, 2024 4:34 am

Can a child under 14 years of age manage a deposit?

Post by monira444 »

No, if he/she is under 14 years old. Please note that many transactions on children's accounts cannot be carried out even by legal representatives - the consent of the guardianship authorities is required. At the same time, you can replenish the deposit without restrictions.

How to close a deposit in a child's name early
Legal representatives can withdraw accrued interest on their own initiative, as well as open a deposit - the terms of the deposit must provide for such an opportunity. But it can be closed and the principal amount can only be withdrawn upon presentation of official permission from the guardianship authorities.

Deposit for children aged 14 to 18 years
Upon reaching the age of 14, a child can open a deposit in a bank independently. Usually, a Russian citizen's passport and one visit to a physical office are sufficient for this - online registration is usually not available to minors.

Registration procedure
If a child opens a deposit on his own initiative, a passport belarus mobile database and one visit to the bank office are sufficient.

If the contract is concluded by a legal representative, the list of documents specified above will be required. However, instead of a birth certificate, it is necessary to provide the child's passport.

Can a 14 year old child manage a deposit?
Yes, but with some restrictions. Minor account holders can top up the account, withdraw funds, and also issue a power of attorney to perform the relevant actions in relation to third parties. In this case, the consent of guardianship authorities or legal representatives may be required - it all depends on the specific situation.

You can film without any permission:

salaries and stipends;

financial assistance and some benefits;

money that a minor deposited on his own;

bonuses and funds transferred for winning competitions and some other payments.


However, it is possible to withdraw money received as a result of a minor’s inheritance, as well as to withdraw pensions, accrued alimony, transfers from insurance companies and funds deposited by other persons, only with the written permission of parents or guardianship authorities.

As for account statements, the bank can provide them to both the depositor and his legal representatives. The document is prepared within the timeframes established by the internal regulations.
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