Forum
Last updated: 

Am i qualified to have a bank account?

My son is 12 years of age, he has been saving his money since he was 9 years old. Now he is planning to open an account to our local bank. We taught him that if he saves money, he can use his money for later situations, at the same time his money is growing little by little. We are no curious if he is qualified to open for his own.

User comments

  • user image

    No Name

    It is a good idea to open an account for a young person, but there is a law that requires the kid to be above 18 years of age to open a deposit and savings account on their own. 15-18 year olds, you can open a savings account – your parents or guardians can also open an account on your behalf for security purposes.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

Will my family members be required to help me repay my debt?

What are the ways to get our of bankruptcy?

Who would manage my bankruptcy estate and who decides my target contributions?

My business is going down. Now what?

What are the roles of an official Assignee?

What are the benefits of filing for bankrutpcy?

Related Reviews

No refunding from wallet if there is an error in the process of toping up an amount

This platform provides zero flexibility of refunding from wallet if there is an error in the process of toping up the amount. Been told by Customer service that the only way is to terminate the account and the refund will be credited after 2 weeks. The UI as well have to be clear at the home screen on which default payment mode are we on as I've been told that the payment mode might switch every time after updating the app

NETSPay / Electronic Transfers Singapore

The range of partner merchants isn’t that extensive

If you’re a serial Grab commuter, you might already have used GrabPay.They also have a number of partner merchants who accept payment using the GrabPay app.You have to top up your GrabPay account in order to use it anyway and honestly, the range of partner merchants isn’t that great and is mostly limited to small neighbourhood businesses. If you’re serious about using an e-wallet for most of your transactions, you will definitely need to download another e-wallet app for day-to-day use.

GrabPay / Gpay Network S

A robust application built with simplicity and fast payments in mind

Yoyo Wallet is a robust application built with simplicity and fast payments in mind. You connect your cards (debit and credit) or Apple Pay once and start using your smartphone to make payments. It allows you to keep all your financial detail in a centralized place, gain no additional wallet weight and take only your smartphone on your shopping experiences. The solution is ultra-secure; your financial details are stored by a trusted payment service provider and not in your smartphone or by Yoyo.

Yoyo Wallet / Yoyo Wallet

I cant tell if it is the App or my phone malfunctioning

This app has been lagging badly for these past one week or thereabout. It got stuck a couple of times last week, while this week, it is just says "busy" while entering the app or after I click to transact. Not sure if it is my upgrade to Android 10 or something else. I wonder if it is my phone that is the problem

Mighty Pay / United Overseas Bank

A mobile app that allows you to manage your credit card account and payment services

The BOC SG eWallet is a new mobile app that allows you to manage your credit card account and payment service. You can use your BOC SG eWallet mobile app to bind/unbind your BOC Unionpay credit card for QR Code payments, QR transactions history tracking, etc.Both consumer-presented and merchant-presented QR scanning functions are available. Your transactions made via the mobile app is secured. For more details, you can click on “Security Tips

BOC SG eWallet / Bank of China

Convinence using the App to search for great deals nearby

FavePay is the new kid on the block somewhat, yet they’ve been growing aggressively. Fave Pay is now available not only in Singapore but also in Johor Bahru, Kuala Lumpur, Penang, Jakarta, Bali and other Malaysian and Indonesian locations.The main thing that sets FavePay apart from the rest is that they offer generous deals and cash back at many of the merchants on their list and you can even use the app to search for deals nearby. Rather than shopping and retail, Fave Pay is focused on dining and experiences, and their merchant selection reflects that

FavePay / Fave Group