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Yes, the minimum age is 13, in compliance with the U.S. Childrenâs Online Privacy Protection Act (COPPA). Snapchat ask for a date of birth upon sign up, and if the birth date indicates that the user is under 13, theyâre not allowed to create an account.
Under federal law, minors (generally, those under the age of 18 in most states) cannot open savings accounts in their own name alone. However, a minor can open a custodial account. custodial account is technically the property of the minor but is managed by an adult, often referred to as a custodian, until the age of majority. Since the money inside of the account is considered the minorâs property, a custodian may not make withdrawals for his or her own benefit.