The Law Dictionary

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MINOR’S ACCOUNT Definition & Legal Meaning

Definition & Citations:

A specific type of savings account setup for a minor by an adult. This type of banking account does allow the minor to make withdrawals and deposits, but does not provide all privileges allowed a normal account. No maintenance fees typically apply until the minor becomes 18 years old. Some banks require a primary account link to a minor’s account to make the adult accountable for any improper minor account use.


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