Minor with a Debit Card

There are state law issues here. Some states permit minors to have bank accounts with or without parental involvement. These contracts in those states are not voidable based on minority. Whether the law extends to use of debit cards is a matter to be investigated with local counsel.

Some banks have provided some debit card access to minors, particularly those away at school, if a parent/guardian is a joint owner of the account and has signed a form of guarantee of responsibility for the minor's transactions. Again, whether this form of contract will stand up in court is a question best answered by local counsel.

First published on BankersOnline.com 04/5/04