Identity card, RIF, birth certificate, personal or bank references and invoices that show the domicile address are some of the precautions that banks request when opening a bank account for a minor. SuchWhich reviews the requirements for opening these accounts at Mercantil, Venezuela, Banesco, Provincial, BFC, BNC and Banco del Tesoro banks
Money management is key to the emancipation process of young people, in the process of becoming independent and autonomous adults. But the country’s economic crisis minimized the use of cash and prompted the disappearance of a large number of banking services, including those aimed at minors.
Saving was a vital tool for youth in past decades. From an early age, parents could open a savings account for their children at any bank, deposit funds and wait for the amount to increase with interest so that, when the young man reached the age of managing his own finances, You will have a significant amount saved.
Currently, inflation devalues money so quickly that interest has no weight. Savings in bolivars only lose their value day after day.
Despite the fact that bank savings is no longer a possibility and that financial instruments are scarce, bank accounts for young people continue to be a product offered by some banking entities.
Opening an account is essential for minors to learn how to handle money. It also makes life easier for parents who must pay for their children’s expenses with mechanisms such as mobile payment. or even giving up their debit cards temporarily.
There are many problems caused by the impossibility for young people to manage money, since it implies difficulties even to pay for their consumption in school canteens or to manage the expenses that university life implies, with the need to make copies or buy guides.
*Read also: Shortage of cash changed payment dynamics in school canteens
For these reasons, SuchWhich shows what are the steps to open a bank account for minors in some of the banks that offer this possibility.
How to open a youth bank account?
Each bank requires different requirements for the opening of bank accounts managed by minors, although they coincide in some basic elements such as the presentation of a laminated identity card or the consent of the legal representatives of the beneficiary. These requests -in addition- are in line with the requirements of the Superintendency of Institutions of the Banking Sector (They sweat) on the documents to request from clients.
Below is a list of banks with the requirements they demand to open accounts for minors:
Mercantile Bank
The applicant must deliver the following documents to any of the bank’s offices:
- Proof of the appointment request that is requested on the bank’s website.
- Ages between 0 and 8 years: original and copy of the minor’s birth certificate.
- Ages between 9 and 17 years: original and copy of the minor’s identity card or passport. Original and copy of your birth certificate.
- Original and copy of the identity document of the representative. If you are married, you must also present the original and a copy of the spouse’s identification document and both the original and a copy of the marriage certificate.
- Digital proof of the Unique Fiscal Information Registry (RIF) of the representative.
- A document such as a work certificate or similar that shows that the representative is a worker under a dependency relationship, a freelance professional, an independent worker or that he owns his own business.
These documents must be downloaded and printed, and then presented at the selected Mercantile office to complete the process.
With the Mercantil account for young people, minors will have access to the Tpago network to manage their mobile payments, to the Mercantil Móvil Personas application, to online banking, they will be able to use ATMs and also points of sale.
Bank of Venezuela
Banco de Venezuela customers who wish to open a savings account for their clients must submit the following information to a bank office:
- Original of the affidavit form of origin and destination of funds.
- Ages between 0 and 8 years: original and copy of the minor’s birth certificate.
- Ages between 9 and 17 years: original and copy of the minor’s identity card or passport. Original and copy of your birth certificate.
- Original and copy of the Fiscal Information Registry (RIF) in force or receipt of payment of any public or private service where the domicile address of the signatory appears. A proof of residence issued by the Civil Headquarters or the Communal Council in the name of the holder is also accepted.
- Two personal references containing names, surnames, identity document number and contact numbers.
- Original of two physical bank references.
- Original proof of work valid for no more than three months.
- In the case of independent workers or with a remuneration greater than 10 full minimum wages: Original and copy of the attestation report on the income relationship signed by a certified public accountant valid for no more than 3 months.
The Clave Digital savings account of Banco de Venezuela offers the same benefits to all its users. Youth have access to the same services as adult accounts.
Banesco
Banesco has a more detailed list of collections, among which are the following:
- Identification sheet of the Natural Person Customer. Signed and with the identification number and fingerprint.
- Credit card application signed by the customer.
- Signature record that matches the identity card.
- Sworn statement for those who do not have any bank account.
- Authorization of minors for debit card assignment signed by the representatives.
- Original and copy of the minor’s birth certificate.
- Original and copy of the minor’s identity card or passport.
- Copy of the Fiscal Information Registry (RIF) in force.
- A bank or personal reference for the representative.
With the Banesco account for minors, the beneficiary will be able to manage the funds through electronic channels such as bank transfers and mobile payment. From 14 years old you can request a debit card to pay at points of sale and withdraw money from ATMs.
Provincial BBVA
The Provincial savings account is aimed at people over 18 years of age and minors under the guardianship of a legal representative. For its opening, it is necessary to submit the following documents:
- Copy of the identity card or a passport of the minor and the representative.
- Original of two personal, bank or commercial references (both must be different) accompanied by a legible copy of the identity card of the person issuing the reference.
- Receipt of some service in the name of the client that identifies the address of the applicant.
- Evidence of work for clients with a dependency employment relationship.
- Income certification for independent workers or merchants.
The Provincial savings account allows you to request a savings book and a debit card to pay for consumption at the point of sale, withdraw money at ATMs and manage funds with the multiple tools offered by the Provinet Personas platform.
Common Fund Bank (BFC)
Representatives must deposit the following documents at any BFC office:
- Ages between 0 and 8 years: original and copy of the minor’s birth certificate.
- Ages between 9 and 17 years: original and copy of the minor’s identity card or passport. Original and copy of your birth certificate.
- A letter of authorization that can be obtained on the BFC website.
With these simple requirements, minor beneficiaries can access services such as consumption at points of sale, withdrawals at ATMs, receiving a debit card, access to BFC online, inquiries at the call center, among others.
National Credit Bank (BNC)
In the case of BNC, it does make a difference for its young clients with a product created specifically for them: BNC Junior Orange Savings Account. To request its opening, the representative must present the following documents at a BNC office:
- Original and copy of the identity document of the representative.
- Digital proof of the Unique Fiscal Information Registry (RIF) of the representative.
- Copy of the minor’s birth certificate.
- Owner’s address.
By opening a BNC Junior Savings account, the holder will be able to access the BNC app and website, mobilize their funds with the debit card, pay at points of sale and withdraw at ATMs; as well as make transfers and use mobile payment with the prior authorization of the legal representative.
Treasure bank
To open the ‘Niños y Niñas de la Patria’ Savings Account, a product aimed at children and adolescents between the ages of 0 and 17, the following information must be recorded:
- Birth certificate of the minor
- Ages between 9 and 17 years: copy of the minor’s identity card or passport.
- Copy of the identity card of the representative of the minor.
- Copy of the receipt of any service in which the address of residence is evidenced.
- Digital proof of the Unique Fiscal Information Registry (RIF) of the representative.
This product consists of issuing a savings book for the minor to mobilize the funds in the account. Earn monthly interest.
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