Why is a bank account important?
Having a bank account is a necessity in the modern world and one most adults take for granted. It is a different story for the young, whose age makes it complicated, if not downright impossible, to enter into a contractual arrangement such as with a bank.
This is a major drawback for a minor, particularly as they head into their teenage years and develop their own online presence, because shopping in the virtual world is all but impossible without access to a bank account.
Also, it is never too early to start saving and learning to manage money. Banks are in the business of keeping customers’ money safe and will hold a record of their transactions, doing away with the need to make a note of payments into and out of the account on pieces of paper it is all too easy to lose.
Can a minor have a bank account?
How to add a bank account for a minor
Depending on the bank, that might be complicated. However, Enel X Pay makes adding a minor child to your bank account easy.
Enel X Pay is an online bank account that is simple to use, secure, and authorized by the Bank of Italy, and is the result of changes to financial regulations designed to help new players break into a market dominated by the traditional banks.
A bank account with a payment card
The card also allows the adult to block certain categories of expenses and even approve transactions before they are completed. And, if necessary, to block the card.
It’s another example of how Enel X simplifies life right from a very young age.