How can a minor use square?

[Rotalilaco]

Hello, I’m a minor and I have a business through my state, all legal. But how can I take payment other than cash if I’m not allowed to  use square until I’m 18? If I put it into a parents name, they will get the 1099, and not me. 

[TheRealChipA]

Hi @Rotalilaco.  First, good for you for your initiative and enthusiasm in starting your own business.  I wish you every success!  Now, to your question.  Federal credit card/banking regulations don’t allow minors to have credit card processing accounts, or merchant accounts.  This is not just a Square restriction.  I’m not sure on this point, but I don’t believe that in this case joint accounts (with a parent) are allowed as they are with checking accounts for minors.

Regardless, I wish you well!