Financial advices needed

[WrenchX]

Hey, so I'm 16, I was 11 when creating my bank account and they told me it was free until I turned 18, but last year they changed it without me knowing. So they started charging monthly since I turned 16 in August. The thing is that I spent all my money on my driving classes, and even like that my parents had to help me, my job isn't the most paying, I even lost that job and in my small city of 10k inhabitants, there are no jobs. I received a letter saying I owed them 240$ CAD before the 18th of December before closing my acc, I would still need to pay them, but I won't be able to put money back with my card, and I would need to reopen an account, and honestly, I am kinda lost on what I should do. My parents refuse to help me, I applied at several places 2 weeks ago, but none have responded.


I'd like to get tips for my situation, and if you want to, I'm not asking for it, but if you want to I'll accept financial help.


I thought that since I was only 16 that I wouldn't be able to lose my job, turns out I was wrong.


Thanks.

 

[OAliverpool]

Hey, so I'm 16, I was 11 when creating my bank account and they told me it was free until I turned 18, but last year they changed it without me knowing. So they started charging monthly since I turned 16 in August. The thing is that I spent all my money on my driving classes, and even like that my parents had to help me, my job isn't the most paying, I even lost that job and in my small city of 10k inhabitants, there are no jobs. I received a letter saying I owed them 240$ CAD before the 18th of December before closing my acc, I would still need to pay them, but I won't be able to put money back with my card, and I would need to reopen an account, and honestly, I am kinda lost on what I should do. My parents refuse to help me, I applied at several places 2 weeks ago, but none have responded.


I'd like to get tips for my situation, and if you want to, I'm not asking for it, but if you want to I'll accept financial help.


I thought that since I was only 16 that I wouldn't be able to lose my job, turns out I was wrong.


Thanks.

This likely isn't them charging for the actual account, it is likely that it is a savings account and you have no money in. You need a minimum amount of money in a savings account not to be charged. Outside of that, any extra money you get I would say invest in the stock market, just look up videos of what to buy if you don't know.

 

[WrenchX]

This likely isn't them charging for the actual account, it is likely that it is a savings account and you have no money in. You need a minimum amount of money in a savings account not to be charged. Outside of that, any extra money you get I would say invest in the stock market, just look up videos of what to buy if you don't know.

I checked my balance, its legit at -240$

 

[WrenchX]

have you thought of contacting the bank and explaining your situation, i'm not sure about Canada but I know where I live if your under 18 and you call up or contact them, most of the time they will drop the debt but close the account / ban you.

The goal of paying my debt is exactly to NOT close the acccount......

 

[OAliverpool]

I checked my balance, its legit at -240$

In my bank the minimum for a savings account to have is $300

 

[WrenchX]

In my bank the minimum for a savings account to have is $300

Ok