bank account for youth...

[1FinickyOne]

At what age can I open a bank account for my niece in her name? Thanks. 

[BEVUP]

Any age, but not that simple

You maybe know but the legal guardian has to do this, & from what I'm understanding of the wife is that the Pink Gov Bank may be your only choice

Wife said the Green Bank (Kasikorn I think ) would not do it

 

[1FinickyOne]

1 hour ago, BEVUP said:

Any age, but not that simple

You maybe know but the legal guardian has to do this, & from what I'm understanding of the wife is that the Pink Gov Bank may be your only choice

Wife said the Green Bank (Kasikorn I think ) would not do it

 

Thanks Bevup - I have a 12 year old niece - at what age can it just go into her name? SCB said not yet and that was last year... I would prefer her name only, her mom is ok, but flaky and I do not want to involve her. The account is currently in my wife's name and earmarked for my niece... but would love to make this straight. 

[BEVUP]

10 minutes ago, kenk24 said:

Thanks Bevup - I have a 12 year old niece - at what age can it just go into her name? SCB said not yet and that was last year... I would prefer her name only, her mom is ok, but flaky and I do not want to involve her. The account is currently in my wife's name and earmarked for my niece... but would love to make this straight. 

I really don't think there's away around it due to the fact she is still a minor 

Unless it can be linked to a special account for school kids savings ( you never know they may have that )

I see SCB nocked you back that's why I think my wife ended up going to Gov Bank ( son 8 yrs old )

PS: Just interigated the wife again & she said ( as far as she can remember ) that our son did the whole lot 

[Rc2702]

Thanks @BEVUP

 

Good topic I'd like to know all options from experienced heads.

 

My boy is 7 months old and my rule is if it is a blue note (50) baht. It's his. I have about 160 saved so far I swear my Mrs has advised the local shops to give me 50 baht notes as change where possibble. Fair play. 

 

 

[BEVUP]

10 minutes ago, Rc2702 said:

Thanks @BEVUP

 

Good topic I'd like to know all options from experienced heads.

 

My boy is 7 months old and my rule is if it is a blue note (50) baht. It's his. I have about 160 saved so far I swear my Mrs has advised the local shops to give me 50 baht notes as change where possibble. Fair play. 

 

 

Yes it's good for the young ones & I'm thinking the funds aren't going in fast enough as 10 yrs to equire a reasonable fund for their education & living (maybe in a different province ) pending on the Uni / Ect 

Also I have to think about beefing up my super between employment ( difficult times ahead )

[jeab1980]

The schools genrally open an account for the kids. Our lad had an accountbopened by the school in his name when he was 7 he deposits money via the school who take the book and the money down to bank once a week the book is then returned to student who in our case brings it home so we can check deposit is correct. Its the Goverment savings bank by the way. According to all the bumf he brought home a few weeks ago (opened at 7yrs old get the gumf ect now hes nigh on 16). Anyway at 16 they will issue him with a ATM card if so required plus at 16 he can if he wants (which he wont be) withdraw money over the counter. At 18 he can apply for internet banking

 

So before i wander further try the Goverment savings bank. 7 by the way as thats when ID cards can be gained and it seems thats a pre requisite.

[1FinickyOne]

31 minutes ago, Rc2702 said:

Thanks @BEVUP

 

Good topic I'd like to know all options from experienced heads.

 

My boy is 7 months old and my rule is if it is a blue note (50) baht. It's his. I have about 160 saved so far I swear my Mrs has advised the local shops to give me 50 baht notes as change where possibble. Fair play. 

 

 

Funny, I save the blue notes too - but, it is lunch money for school everyday... and every once in a hwile I have to go to the bank to change 1,000... 

[BEVUP]

19 minutes ago, jeab1980 said:

The schools genrally open an account for the kids. Our lad had an accountbopened by the school in his name when he was 7 he deposits money via the school who take the book and the money down to bank once a week the book is then returned to student who in our case brings it home so we can check deposit is correct. Its the Goverment savings bank by the way. According to all the bumf he brought home a few weeks ago (opened at 7yrs old get the gumf ect now hes nigh on 16). Anyway at 16 they will issue him with a ATM card if so required plus at 16 he can if he wants (which he wont be) withdraw money over the counter. At 18 he can apply for internet banking

 

So before i wander further try the Goverment savings bank. 7 by the way as thats when ID cards can be gained and it seems thats a pre requisite.

Yes good point Jeab, I did forget about that one - I think my wife did that at a previous school

But he may want to do this independently (maybe thats why my wife did it or the school at current doesn't support it )

Alongs the line of putting a 1000 bht p/mth in ( up to her )

[Rc2702]

Just now, kenk24 said:

Funny, I save the blue notes too - but, it is lunch money for school everyday... and every once in a hwile I have to go to the bank to change 1,000... 

Only note we save. All change we save too. It feeds the need for pringles tins which I have no issue emptying lol

[1FinickyOne]

Just now, Rc2702 said:

Only note we save. All change we save too. It feeds the need for pringles tins which I have no issue emptying lol

Yes, we have been saving change too, for over a decade... overflowing, but I still want a regular bank account in my kids name... 

 

Does anyone know what age? 

[jeab1980]

5 minutes ago, BEVUP said:

Yes good point Jeab, I did forget about that one - I think my wife did that at a previous school

But he may want to do this independently (maybe thats why my wife did it or the school at current doesn't support it )

Alongs the line of putting a 1000 bht p/mth in ( up to her )

He gets 1k a month of us to put in and he also puts in whatever he makes per week doing odd jobs (well he did before he became kevin the teenage monster 2 years ago. You know im 14 i know everything) he also put his birthday and xmas money in. Got a good little stach in there now. I told him when he turns 18 whatever is in there we will double it seems to work as he has never drawn on it.

[franckpattaya]

I have asked Kasikorn bank last week.

My daughter can open an account in her name at 16 years old ( she is actually 15)

[khunPer]

20 hours ago, kenk24 said:

At what age can I open a bank account for my niece in her name?

You can open a bank account at any age, but it need to be in two names, your niece and a (legal?) guardian. That count for both normal bank savings accounts, and fixed term accounts, and so-called Fund Books (mutual funds), including LTFs. However a minor cannot open a SET-trading account under guardian. In Thailand a child is considered minor until 20 years old.

(I talk from experience.)

[Baerboxer]

My two children currently have bank accounts with Bangkok Bank and Krungsri. They are in the children's name but operated by the mother. They have had them since they were infants.

 

I think most banks do savings accounts for children like this. It's not unusual.

[HHTel]

Strange.  My two daughters both have accounts at K-Bank complete with ATM cards.  My eldest opened hers when she was 14 and my youngest at 12.  They needed their ID cards but I don't remember signing anything.

[jeab1980]

5 hours ago, khunPer said:

You can open a bank account at any age, but it need to be in two names, your niece and a (legal?) guardian. That count for both normal bank savings accounts, and fixed term accounts, and so-called Fund Books (mutual funds), including LTFs. However a minor cannot open a SET-trading account under guardian. In Thailand a child is considered minor until 20 years old.

(I talk from experience.)

Not so if ropened by schools with goverment savings bank. In childs name only.

Also hustfloind this might be oef help for OP

http://www.scb.co.th/en/personal-banking/deposit/thai-baht-deposits/smart-kids/smart-kids-saving

Edited October 6, 2017 by jeab1980

[Keesters]

I had no trouble opening a savings account for my ward, a 12-year-old. Just showed some Thai language paperwork that his father and grandmother had signed. That was Asia Bank now UOB.

[blackcab]

On 05/10/2017 at 7:23 PM, kenk24 said:

Does anyone know what age? 

 

7