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Young sister received cheque. Don't have bank account

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  • Dec 8th, 2010 2:30 am
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Deal Addict
Apr 7, 2008
4773 posts
40 upvotes

Young sister received cheque. Don't have bank account

Hello folks. I was wondering if any of you opened up accounts for kids.

My 11 year old sister received cheque in her name and bank teller said he can not cash it because she did not have ID (I wanted to deposit it into my own account with same last name).
She has OHIP which was not understandingbly accepted. She has no DL obviously, no SIN card and passport is expired for a long time. Is there any way to cash the cheque?

And second part ofthe question, are there any benefits to opening up kids account? Which bank would be more ideal for that? It just seems iffy to me opening up an account for a child.
16 replies
Deal Addict
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Jun 22, 2008
1060 posts
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Durham Region
Lulz wrote: Hello folks. I was wondering if any of you opened up accounts for kids.

My 11 year old sister received cheque in her name and bank teller said he can not cash it because she did not have ID (I wanted to deposit it into my own account with same last name).
She has OHIP which was not understandingbly accepted. She has no DL obviously, no SIN card and passport is expired for a long time. Is there any way to cash the cheque?

And second part ofthe question, are there any benefits to opening up kids account? Which bank would be more ideal for that? It just seems iffy to me opening up an account for a child.

you could try and open a free bank account w/ PC financial. You need ID, I used a driver licence, birth certiificate might work. If not open a joint account for her.
Deal Addict
Mar 10, 2009
2792 posts
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Mississauga
Benefits of her opening an account is you can put her money into her account and keep track of it and has some sort of history with a bank. Having a bank can also teach a child how to use the money and have money management and in situation like the cheque, the cheque can be deposit. If you feel uncomfortable with the kid having a bank account, just hold on the the bank hard and give it to the child when it's suitable to buy some thing or until the child is 18 years old.

TD or CIBC has good banks for children under 18 and has good customer service.

but when opening a bank account, you'll need a sin card and a birth certificate or other type of government document except health card (since you said the passport has expired)
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Sep 26, 2007
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SC
Lulz wrote: Hello folks. I was wondering if any of you opened up accounts for kids.

My 11 year old sister received cheque in her name and bank teller said he can not cash it because she did not have ID (I wanted to deposit it into my own account with same last name).
She has OHIP which was not understandingbly accepted. She has no DL obviously, no SIN card and passport is expired for a long time. Is there any way to cash the cheque?

And second part ofthe question, are there any benefits to opening up kids account? Which bank would be more ideal for that? It just seems iffy to me opening up an account for a child.
you could deposit it in your account, screw the consequences!

but i had a kids account once with td, it got me somewhat interested in saving i think it's good for kids to start learning about saving up money and not just spend everything they get.
plus getting interest was awesome.
Deal Addict
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Dec 28, 2004
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Burlington
Credit unions sometimes have good accounts and programs also. I believe Niagara Credit Union used to have "Fat Cat" accounts.
Sr. Member
Jul 29, 2009
895 posts
14 upvotes
Most banks offer some sort of youth account. I don't know why you would think it's "iffy". It gives them a safe place to keep their money, and helps teach them how the world of finance works. My parents opened my first account for me when I was 7. *shrug*
Deal Addict
Dec 31, 2009
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Kids don't need a SIN to open a youth bank account. My GF just opened one for her son and he doesn't have a SIN yet. The way she talked, the bank would have preferred it, but it wasn't necessary. (edit. he's 12.)

To answer the OPs question. Just have her sign the back and give it to you. You give her the cash and then you can just deposit it in your bank account.
Deal Addict
Apr 7, 2008
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YYC27 wrote: Most banks offer some sort of youth account. I don't know why you would think it's "iffy". It gives them a safe place to keep their money, and helps teach them how the world of finance works. My parents opened my first account for me when I was 7. *shrug*

Because I want to be cautious. I don't want banks to have easy time obtaining all the information on her so that they can start sending more crap in the mail and when she turns of legal age bombard with various offers and other useless crap. Or maybe I am just sick and tired of companies constantly asking for personal info when you do simple things like purchases. Like stores asking for my name and cell phone when I buy something from them. Jean Machine in Eaton's wanted my address and phone, but I politely declined. Just so sick of how much crap gets sent in the mail, and when you move and change your address, companies still keep sending you on your old address stuff. I live in apartment, and get mail from previous tenants (3 different names). Of course it's nothing personal or private, but I wouldn't want that to happen to me when I move out. Sorry for mini-rant, I know banks are more responsible than some company selling jeans, but I am just talking in general sense.


Paulfistinyourface E: Yeah this is what I mean. They were able to open up child's account without SIN card...so why do banks ask for it in the first place if they were able to manage without it? The term "preferred" is very broad.
(what info did your GF have to provide by the way?)

Sorry for mini-rant BTW. Thanks to all of you who helped.
Sr. Member
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Jun 6, 2009
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Banks ask for your SIN because they have to report the interest you earn to the CRA.
The rules might be looser for minors since they don't make enough money to pay taxes anyway.
That's what I think.

Chances are she'll need her own bank account way before she turns 18 anyway. There's no point to postpone it forever.
Deal Addict
Dec 31, 2009
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Lulz wrote: Paulfistinyourface E: Yeah this is what I mean. They were able to open up child's account without SIN card...so why do banks ask for it in the first place if they were able to manage without it? The term "preferred" is very broad.
(what info did your GF have to provide by the way?)

Sorry for mini-rant BTW. Thanks to all of you who helped.
I really don't know, but I think it was his birth certificate and maybe his health card. All I know is his Dad wanted to get him a SIN when he had grand plans to open up an RESP for him (which does require a SIN). But his Dad doesn't have a pot to piss in, it was all talk, and he never even got him a SIN. Probably because he didn't have the $10 or $20 or whatever it cost to get it.
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Dec 11, 2005
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Lulz wrote: And second part ofthe question, are there any benefits to opening up kids account? Which bank would be more ideal for that? It just seems iffy to me opening up an account for a child.

Why is it "iffy"? I had a bank account when I was like 6. It teaches kids about money. Youth accounts don't cost anything so there isn't really any reason a kid shoudl not have one. And this kid is 11??? Jebus she may be in middle school next year??? I can't believe she doesn't already have one in this day and age to be frank.

EDIT: As far as the SIN goes, banks are required by law to collect the SIN for any interest-bearing account. It is not an option. Most youth accounts are interest bearing so that they can learn about interest (even if it is next to nothing), so yes you will likely have to give her SIN. But again, she is freaking 11 - when I was that age I had a SIN, of course since I had my own paper route and was making $200 / month. 11 is not as young as you seem to think it is. Shes nearly a teenager.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
Deal Fanatic
Jan 18, 2004
6433 posts
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Canada
I also had an account when I was a child.

Nothing iffy about it.
I never got spam from the banks.
Member
Sep 4, 2010
374 posts
35 upvotes
brunes wrote: EDIT: As far as the SIN goes, banks are required by law to collect the SIN for any interest-bearing account. It is not an option. Most youth accounts are interest bearing so that they can learn about interest (even if it is next to nothing), so yes you will likely have to give her SIN. But again, she is freaking 11 - when I was that age I had a SIN, of course since I had my own paper route and was making $200 / month. 11 is not as young as you seem to think it is. Shes nearly a teenager.

Not true. I opened my TD account after turning 18. (Quebec) They didn't ask for my SIN. It's optional, not mandatory.
Member
May 5, 2008
361 posts
183 upvotes
Calgary
And we wonder why most adults can't manage their finances...
Could it be because they weren't allowed to have a bank account until they were 18, and thus never learned a thing about money management?

For the sake of all that is good and right, take the girl to the bank immediately and open an account.
Member
May 5, 2008
361 posts
183 upvotes
Calgary
This is from the RBC website... not sure if the same ID is needed everywhere

What Identification do You Need to Open an Account?

To open a Canadian dollar account with RBC Royal Bank, you must show two pieces of identification — one from List A and and second one from List A or List B.

List A

* Permanent Resident Card or Citizenship and Immigration Form IMM1000, IMM1442 or IMM5292
* Canadian or foreign passport
* Canadian or U.S. driver’s licence
* Canadian Social Insurance Number card
* Certificate of Canadian Citizenship or Certificate of Naturalization in the form of a paper document or card (but not a commemorative issue)
* Canadian or U.S. birth certificate
* Canadian Old Age Security card
* Provincial Health Insurance card for any province except Ontario, Manitoba or P.E.I.

List B

* Employee photo identity card
* Canadian credit card
* Canadian university or college photo student card
* Senior Citizen Privilege card
* Confirmation of identity by a client in good standing with RBC Financial Group or by an individual of good standing in the community where the bank is situated, in the opinion of RBC
* Introduction letter, with signature, from previous bank.

If you do not have any of the documents listed above, you may still be able to open an account. Please call 1-800-ROYAL 1-1 (1-800-769-2511) for assistance.
Deal Addict
Oct 11, 2007
2270 posts
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My son is 10 and got a paper route just before summer. I have an account with RBC. We decided to add him to my account. He has a child's savings account and I can easily add his allowance from my chequing account into his online. I had to show 2 pieces of ID but my son only needed his birth certificate. He could've gotten his own account but the lady at RBC said since he just has a paper route this could be easier to keep track off since it's attached to my account.

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