What age should a child be allowed to start his/her own checking acct?

@thumper2 (127)
United States
December 29, 2006 2:09pm CST
At what age should a child be allowed to open his/her own checking account. We are thinking about doing this for our daughter (she's 10 yrs.old) to teach her how to manage her own money, she gets an allowance (when she does her chores) and has her own cell phone. But she needs to learn responsibility and how to set priorities for things she wants. Has anyone done this for their kids and at what age does it work best at?
1 response
Steve Helmer
@srhelmer (7029)
• Beaver Dam, Wisconsin
29 Dec 06
It's definitely a good way to teach kids about money before they get bombarded by credit card offers. But, make sure to monitor it carefully, especially with the number of people seeking to steal identities.
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