Who is a minor ? can the banker open an account in the name of a minor? What precaution a banker should take ?
Answers
Answer:
In law, a minor is a person under a certain age, usually the age of majority, which legally demarcates childhood from adulthood. The age of majority depends upon jurisdiction and application, but it is generally 18. Minor may also be used in contexts that are unconnected to the overall age of majority. For example, the drinking age in the United States is usually 21, and younger people are sometimes called minors in the context of alcohol law, even if they are at least 18.[1][2] The term underage often refers to those under the age of majority, but it may also refer to persons under a certain age limit, such as the drinking age, smoking age, age of consent, marriageable age, driving age, voting age, etc. Such age limits are often different from the age of majority.When you open an account in the name of a child who has not yet turned 10, it has to be operated jointly with the parent or guardian. ... Facilities like Internet banking, ATM or debit card, cheque book facility etc., would still be there in a minor's account but they will be subject to safeguards and restrictions.At the time of opening an account the banker should get the information about the character and capital of the customer's tactfully. The banker should take steps to ensure secrecy of its content and pass book should be send in close cover..1
Explanation:
Answer:
In law, a minor is a person under a certain age, usually the age of majority, which legally demarcates childhood from adulthood. The age of majority depends upon jurisdiction and application, but it is generally 18. Minor may also be used in contexts that are unconnected to the overall age of majority.