Does your institution allow minors to access online banking?

Currently we deny any minors who apply for access to our online banking system. We have always based that denial on the fact that a minor could not legally enter into an agreement. However, we allow that minor (if they are at least 16) to open a checking account provided it is joint with their parent.

I don't see how access to view their accounts online poses any risk to the bank. We're not giving them anything that they don't already get in their monthly statement.

Opinions?

If we allow them a checking account we allow them access to it via online banking and phone banking.

No. We do not want to have to comply with COPPA.

doesn't COPPA only apply at age 13 and under?