The required age for you to legally own a Paypal account is 18. It is illegal for you to open a Paypal account if you have not clocked the age of puberty.
This PayPal policy has aroused many negative criticisms. As such, there is now an adjustment made to this policy.
PayPal now offers student accounts just like banks. You can now open a PayPal student account as a teenager. But to be eligible, you must have an older person standing in for you as the primary account holder. So how do you own a Paypal teen account?
To open a Paypal teens account, if you are under 18, all you have to do is to get an adult who will stand in for you as the primary account holder. Then you will be able to register for a Paypal account even if you are below 18 years of age.
To know more about how you can register a Paypal account as a 13, 14 15, 16, 17-year-old, or below the age of 18 continue reading this post to discover more about the topic.
To reiterate the point I have made earlier, PayPal will never allow anyone under the age of 18 to open an account, either a personal account or a business account because anyone under 18 is not allowed to enter into a legal contract in the United State. And whenever you are opening a Paypal account, you are signing a legal contract, and thus, you must fulfill all the requirements.
But whenever another person is standing in for you as the primary account holder, the person will be the one to sign the contract on your behave.
On this page, we shall be answering some very frequently asked questions on this topic. We have discovered that quite a lot of young people actually want to know if they can go-ahead to open a Paypal account right from the age of 14, 15, 16, and 17. So the large part of the post will be answering these questions.
Frequently Asked Questions
Can a 17-year-old open a bank account without parents?
Children between the age of 15 to 17 can open a bank account on their own without any parent or guardian standing for them. However, once you open an account below 18, you can only deposit into it. You will not be able to withdraw your money until you are 18 years of age.
Can 17 Years Old Open A PayPal account?
Yes, you might be able to open a Paypal account below the age of 18 but you will not be able to get your money out of the account until you are 18 years of age. This is because opening a Paypal account below 18 is illegal. Once you clock 18, you can then open a Paypal account legally and can now transfer all your funds from the limited account to the new one
In the USA, the minimum age to enter into a legal contract is 18, And since signing up for a Paypal account is the same as entering into a legal contract, you must clock 18 before you can legally have a Paypal account you can withdraw from.
No. Venmo’s terms of service also state that you must be 18 years before you can own an account. So you cannot create a Venmo account if you have not clocked the age of 18.
No, cash app terms of service clearly state that you have to be 18 before you can sign up for any of their accounts. This means that if a minor signs up for an account, the application will automatically be denied via the ID. Although teens below 18 can still access the app and play around with it, you cannot make any transaction with is it until you are up to 18.
Technically No. Minors cannot have a bank account if they have not reached 18. However, you can decide to have a joint owner who will be older than you. With this, you can get someone older than you to be the primary owner of the account and both of you gets to see the transaction on the account. But the teen cannot fully claim the account ownership until he reaches the age of 18.
Yes, this is the bank account eligibility age. Once you have reached the age of 18, you have all the full right to own a bank account. And if you previously have a student or teens account which you have a joint owner for, you can solely upgrade the account and claim full ownership of it.
PayPal student account or teens account scheme is the method of opening a PayPal account in such a way that another older person will have to stand in as the primary owner of the account. In this case, you do not have the full right to perform transactions like sending money, receiving money, and withdrawing all by yourself. But as soon as you have clock 18, you can start enjoying all these benefits.
Yes, It is very possible to sign up for two Paypal accounts. PayPal allows you to sign up for a personal account as well as a Premier or business account at the same time. With the Business account, you can add more email addresses, debit cards, and bank accounts. But you must sign up for the two accounts with separate email addresses.
If you are below 18 and you want to use a Venmo account, you can follow the steps below to start using a Venmo account:
- Download the Venmo App from Playstore
- Open it up on your device
- Sign up with your own email address or use the social sign up option
- Enter your first and the Last name
- Input your email address
- Choose your preferred username
- Choose your preferred password
- Click on the “Next” button
- Agree with all these terms and conditions.
As a minor i.e those below 18 years, there are some cash apps that allow you to sign up even if you are not yet up to 18. Below are some of them.
Cash Apps That Minors Can Use
|S/N||Apps||Rating (1 -5)||Fees|
|1||Acorns Early||4.8||$1/month – $5/month|
|2||Stash||4.7||$1/month – $9/month|
|3||Current||4.8||$36/year per child|
|4||FamZoo||4.5||$5.99/mo per child|
Here are the best 5 debit cards suitable to use for teens:
- American Expres Serve Free Reloads.
Most cash apps will never allow you to sign up if you are below 18. In the USA, you cannot enter into a legal contract if you are still a minor. So the major reason why you might not be able to register for cash apps as a teenager below 18 is your age.
Technically, a minor who is just 13 years of age cannot sign up for any Cash App account. This is the cash app policy. The only alternative is to have a joint account with another older person who will be the primary owner of the account until you are old enough to claim full ownership.
No, you must be 18 years old before Cash App can issue you a card. If you apply anytime before 18, your application will be denied.
For teens, here are the best banks you can use
- Union Bank & Trust
- Citizens’ Bank
- Bank of America
- Alliant Credit Union
If you are below 18, If you are just between the age range of 13, 14, 15, 16, and 17, then the best place for you to open a bank account is a Wells Fargo Branch. Those who are around 13 and 16 must open their account with an adult being a co-owner. But if you are already 17 or older, then you can open can choose to open a joint account or a personal account that will not require you to have an older person.
Once you clock 18 years, your teen PayPal account will automatically be upgraded to a saving account. With this, you can then have full control over your account transactions.
Yes, you can get a debit card as soon as you are 13 years of age, so far as you open the account with an older person as a joint account. But you can only have full control over the account when you reach 18.
Yes, there are other very good alternatives for teenagers under 18. Below are the other alternative you can use if you have not clocked 18
- Wells Fargo Clear Access Banking
- Huntington Bank
- Chase High School Checking
- Bank of America Student Banking:
- You can open a PayPal account if you are below 18
- You will not have the full right to the account
- You can only open a joint account with an older person if you are below 18 (Minor)
- Once you are 18, your teens’ account will automatically be upgraded into a savings account.
Opening a Paypal account in the USA follows closely the bank policy. You cannot open a Paypal account in the USA unless you are 18. However, you can choose to open a joint account with someone older than you but the person will be the primary owner of the account. You will gain full ownership of the account when you are up to 18 and the account will automatically be upgraded into a saving account.