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Wednesday, January 12, 2011

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. 


 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.


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.


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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