Bank Accounts for Minors in Nebraska

In Nebraska, the age of majority is 19 years, but an individual in Nebraska has many legal rights and responsibilities when they reach the age 18. Under Nebraska law, persons of all ages may have a bank account. However, individual banks may have age restrictions on opening certain accounts at their bank to reduce risk.

At the age of 18, a person in Nebraska who is not a ward of the state is legally able to enter into a binding contract or lease of whatever kind or nature and shall be legally responsible for such contract or lease, including responsibility to third parties. An 18-year-old can open a bank account and be legally responsible for those terms. For example, at 18 a person who writes a bad check knowing that they do not have sufficient funds in their account with the bank commits the offense of issuing a bad check and may be charged with a crime and ordered to pay restitution to the bank.

Even though the age of majority is 19, at 18 years a person may sign a mortgage, credit card, promissory note, security interest, etc. and be legally bound by those terms. As with any individual, however, it is important to verify credit history, ability to repay, and any other considerations necessary to reduce risk when entering a contract.

Under Nebraska law, persons of all ages may have a bank account. However, individual banks may have an age restriction on opening certain accounts in order to reduce risk. As a general policy, persons under the age of 18 who wish to open an account should have a parent or guardian co-sign or be a joint-owner of the account in order to reduce risk.

All banks should have an internal policy as to what age the bank will allow a person to open a bank account. The age should be under the age of 18 to afford opportunities to minors to have a checking or savings account. However, all persons under the age of 18 should have a parent or guardian co-sign or act as a joint-owner of the account.