Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-117. Savings accounts of minors

An association may open savings accounts in the name of a minor as the sole and absolute owner of such savings account and receive payments thereon by or for such owner and pay withdrawals, accept pledges to the association and act in any other manner with respect to such accounts on the order of the minor. Any payment to a minor or a receipt or acquittance signed by the minor or any other action required by the association to be taken by the minor shall be binding upon such minor with like effect as if such minor were of full age and legal capacity and shall be a valid release to the association. The parent or guardian of such minor shall not, in his capacity as parent or guardian, have the power to attach, or in any manner transfer, any savings account owned and standing in the name of such minor.