What does Sara, who is 16 years old and wants …

Business Questions

Sara is 16 years old and would like to open a bank account. What will she need in addition to her parent or guardian? Select four answers.A. Government-issued ID or birth certificateB. High school diplomaC. Money to start the accountD. Social security number or immigration formE. Proof of address

Short Answer

To open a bank account, Sara needs to gather identification documents like a government-issued ID or birth certificate, prepare an initial deposit, and provide proof of her address with documents like a utility bill or bank statement. This ensures her identity and compliance with bank regulations.

Step-by-Step Solution

Step 1: Gather Identification

Sara needs to provide a government-issued ID or a birth certificate to verify her identity. This is essential for opening a bank account. She should also have her social security number or immigration form ready as part of the identification process.

Step 2: Prepare Initial Deposit

To open the bank account, Sara must have some money to make an initial deposit. Different banks may have varying minimum deposit requirements, so it’s a good idea to check with the selected bank ahead of time.

Step 3: Provide Proof of Address

Sara is required to show proof of her address. This can be done using documents such as a current utility bill or a bank statement. These documents help the bank confirm where she resides and ensure compliance with regulations.

Related Concepts

Government-Issued Id

A form of identification issued by a governmental body used to verify a person’s identity and eligibility for certain services.

Initial Deposit

The minimum amount of money required to be deposited in a bank account to activate it, which can vary by bank.

Proof Of Address

Documentation that verifies a person’s residential address, often required by banks to comply with regulations and confirm identity.

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