How to Open an Online Trading Account for Your Child

29 Jan

I recently opened an online trading account at CitisecOnline for my daughter.  I wrote about this in a previous post (see My 3y/o Daughter is Now a Stock Investor), which shows the chronological order of events from the time we submitted our application up to the time we received the user name and password.  Let me now share the steps prior to that:

1.  We went to the Forms page of the CitisecOnline website >>>

2.  We downloaded  “All Individual Forms (Download all Individual Forms)”

3.  We printed and filled out the forms.  In the Individual CAIF, I put my information under the Primary Account Holder column and my daughter’s information under the Secondary Account Holder column.  I did the same with the Signature Cards.  My child is only three years old and cannot write yet so we left the signature portions blank.  I chose the account type “Joint or” but the customer service officer called to inform me that it will be an “In Trust For” account since my daughter is not of legal age, i.e. below 18 years old.  In which case, I should have chosen “Others” and indicated “ITF” on the space provided instead.

4.  We prepared photocopies of my passport, birth certificate and SSS ID and my daughter’s birth certificate and passport.  I overdid it (he he).  Only one valid ID is required.  Valid IDs are those issued by the Philippine Government (other example: driver’s license, PRC ID, GSIS ID, Comelec Voter’s ID).

5.  We also prepared a photocopy of our PLDT billing statement.  This is required only for those who are not going to submit the necessary forms and copies of valid IDs in person.  Only one billing statement is required (example: utility, credit card, bank).


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