Open a bank at 16-17 in Ontario?

I have recently moved out from my dads house because Of fights and other reasons that I don’t want to mention. But since I’m legally allowed to move out, I’ve found a place for $500 a month and yes I do have a job right now. My current bank account is a student account only allows me to spend $100 a day, but I would like to change it or open a new account but they need me to be 18. Is there a exception for me since I basically live on my own now? And I’ll be turning 17 in a few months.

2 Answers

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  • 2 years ago

    I just googled it because I assume if you are allowed to move out and rent and get a job then you are of the age of consent. According to google you can open a bank account in Canada starting at the age of 12. This doesn't mean this is the policy of every bank however, so I'd just call up a few other banks and ask them if you can open an account at 16 - tell them that you have a job and rent and are on your own and just need a place to hold your money and write checks, etc. If they consistently tell you no, for whatever reason, they you'll need to find a trusted adult to be on the account with you or else you'll have to live on a cash basis until you turn 18.

  • Anonymous
    2 years ago

    $100 a day is enough to live fairly well and pay bills. i wouldn't wear down your student account especially if it's used to pay for your classes though. it's better to grit your teeth and dream for a couple more years. or find a responsible college roommate and take care of your own cooking and cleaning.

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