How can you make banking work best for you? Just ask Alex, our expert banker, to get the advice you need for your banking success. Learn more about how old minors must be to apply for their own credit card. Discover why any accesory that covers a customers face is generally prohibited inside a bank. Find out about what you can do to convert your stash of coins into cash.
Question: Can my sixteen year old son have a credit card? – Taylor from Aberdeen, South Dakota
Answer: Individuals can apply for their own credit card when they turn 18 years old. Until then, minors aren’t legally able to enter into a contract. There are some credit card companies that will allow minors to be added onto their parent’s credit card as an authorized user. This can help build the minors’ credit history and teach them the importance of having a credit card. If you go that route, I recommend capping the spending limit and have your son make the monthly payments from income he gets from a job or allowance.
Question: Why can’t I wear a hat and sunglasses inside a bank? – Juliana at Park City, Utah
Answer: Any accessory that cover a customer’s face like sunglasses, hats, motorcycle helmets, hoodies and masks are generally prohibited. While inside, a customer might be asked by a branch employee to take them off. The reason is due to security concerns. Bank robbers typically wear these items to avoid being identified by eyewitnesses or video cameras. The exception to this policy includes clothing for religious or health purposes.
Question: Do banks accept rolled coins? – Martha from Paterson, New Jersey
Answer: It depends on the financial institution. There are many banks and credit unions that do accept rolled coins. It is typically the cheapest way to have coins converted into cash. First, check with your local branch to see if they accept rolled coins. If they do, pick up some coin wrappers. They generally come in quarters, dimes, nickels and pennies. As a courtesy, several financial institutions will provide coin wrappers for free. Then, separate the coins and wrap them based on their dollar amount ($10 for quarters, $5 for dimes, $2 for nickels and $0.50 for pennies). Finally, go to your branch and exchange them for cash or deposit them into your account. Be aware that some places might charge a coin exchange fee for non-customers.
Written by: Alex Sanchez, Branch Manager
Important: For your specific questions about banking, contact your banking expert, Alex, at: firstname.lastname@example.org
Alex is starting his 17th year in the banking industry. He has worked for such notable banks as Bank of America, US Bank, and Chase. Alex has his bachelor’s degree in Business Economic from the University of California Riverside.