We believe that the general rule would apply, which is that a bank may charge any account fees agreed to by the customer, even if the customer is a minor. (Section 5e of the Banking Act states that “[n]otwithstanding the provisions of any other law in connection with extensions of credit” banks may charge any “interest, fees, and other charges . . . subject only to the provisions of [subsection 4(1)] of the Interest Act.” That subsection of the Interest Act also allows banks to charge any fees agreed to by the customer. 205 ILCS 5/5e815 ILCS 205/4(1).)

These general rules would apply equally to a checking account held by a minor. As stated in the Illinois Banking Act, banks may accept deposits from minors, and “the rules and regulations of such bank with respect to each such deposit and account shall be as binding upon such minor as if such minor were of full age and legal capacity.” 205 ILCS 5/45.1. We are not aware of any fee restrictions in other laws, such as the Illinois Uniform Transfers to Minors Act (governing UTMA accounts).