Yes, children can have checking accounts, but the rules depend on their age and the bank
Most banks let children open checking accounts, though the specifics vary by age and by bank. A child under 18 typically needs a parent or guardian on the account with them — this is called a joint account or a custodial account, depending on the bank's language. Some banks let children as young as 6 or 7 open accounts; others wait until 13 or older. A few banks offer accounts designed specifically for teenagers that let them manage money with parental oversight built in.
The reason banks require a parent on a child's account is legal: children under 18 cannot sign binding contracts, and a bank account is a contract. The parent's signature makes the account valid. This also means the parent can see all transactions and set limits on spending, which many families find useful for teaching money habits.
Key Takeaways
- Children under 18 need a parent or guardian on their checking account, either as a joint owner or as the custodian.
- Different banks set different minimum ages — some allow accounts from age 6 or 7, while others require age 13 or older.
- A joint account means both the child and parent can withdraw money and see all transactions; a custodial account gives the parent more control.
- Many banks offer teen checking accounts with features like spending limits, parental alerts, and no overdraft fees.
- You will need the child's Social Security number and proof of identity, plus your own ID and account information.
Joint accounts versus custodial accounts
A joint account is the simpler option. Both the parent and child are listed as owners, both can deposit and withdraw money, and both can see transactions. The parent does not need to approve each purchase — the child can use the debit card freely. This works well for older children or teenagers who are ready for more independence. The downside is that the parent cannot set spending limits or block certain transactions.
A custodial account gives the parent more control. The parent is the custodian (the legal owner), and the child is the beneficiary. The parent can see all transactions and often can set rules — some banks let custodians restrict daily spending or require approval for large purchases. The child may not be able to withdraw money without the parent's permission, depending on the bank's rules. This works better for younger children or for families who want to teach spending habits with guardrails in place.
Not all banks offer both types. Before you visit a branch or go online, check the bank's website to see which structure they use. Some banks call a custodial account a "youth account" or "teen account" and market it specifically for children.
What you need to open an account for a child
Bring the child's Social Security number and a form of ID — a birth certificate, passport, or state ID card all work. You will also need your own ID and proof of address (a recent utility bill or lease works). Some banks ask for both documents; others accept one. Call ahead or check the bank's website to confirm what they need.
If you are opening the account in person at a branch, bring the child with you. Most banks want to see the child and verify their identity directly. Some banks let you open accounts online, though you may still need to visit a branch later to set up the debit card or complete identity verification.
If the child does not yet have a Social Security number, you can explore for one at your local Social Security office or online at ssa.gov. The process takes a few weeks. Some banks will let you open an account without a Social Security number if you provide an Individual Taxpayer Identification Number (ITIN) instead, though this is less common.
Age limits and what different banks offer
Banks set their own minimum ages, so the rules vary. Chase, for example, lets children as young as 6 open a Chase First Banking account with a parent. Bank of America offers a similar product starting at age 8. Wells Fargo requires age 13 for most youth accounts. Credit unions often have lower minimums — many accept children from age 6 or 7.
Teen-focused accounts often come with features designed to teach money management. Some include parental alerts (the parent gets a text when the child makes a purchase over a certain amount), spending limits, or no overdraft fees. A few banks offer a small allowance feature where the parent can set up automatic transfers on a schedule. These accounts are usually free, though some charge a monthly fee of $5 to $10 if the account falls below a minimum balance.
The best way to find what is available in your area is to call or visit the websites of banks and credit unions near you. Ask specifically about accounts for children and what age they require. If you are already a customer, ask your bank what they offer — existing customers sometimes get better terms or can open accounts faster.
How a child's account affects taxes and benefits
Money in a child's checking account is considered the child's income for tax purposes if it comes from work or interest earned. If the account earns interest (most checking accounts earn very little or none), the child may need to file a tax return depending on how much interest accumulated. This is rarely a concern with checking accounts, since interest rates are low, but it is worth knowing.
If your family receives means-tested benefits — Supplemental Security Income (SSI), SNAP, housing information, or Medicaid based on income — a child's savings account can affect those benefits. A checking account usually does not, since benefits programs typically count savings but not money in regular checking accounts. However, the rules vary by program and state. If you receive benefits and are unsure, contact your benefits caseworker before opening an account.
What happens when the child turns 18
When the child reaches 18, the account does not automatically close or change. However, the parent's authority over the account ends. The young adult is now a legal adult and the sole owner of the account. The parent can no longer see transactions or set limits unless the young adult gives them permission.
Some banks automatically convert the account to an adult checking account on the child's 18th birthday. Others leave it as is. Check with your bank about their policy. If the account has features that only explore to minors (like parental controls or no overdraft fees), those may disappear after the birthday.
If you want to stay involved in the account after your child turns 18, you can ask them to add you as an authorized user or to share login information with you. But they are not required to, and the decision is theirs to make.
Frequently Asked Questions
Can a child have a checking account without a parent?
No. Children under 18 cannot legally sign a contract, and a bank account is a contract. A parent or legal guardian must be on the account. Once the child turns 18, they can open their own account without a parent's involvement.
What if I want to give my child money but do not want them to spend it all at once?
A custodial account with spending limits is a good option if your bank offers it. Alternatively, you can open a savings account instead of a checking account — savings accounts typically have fewer withdrawal options, which naturally limits spending. Some families use both: a checking account for everyday money and a savings account for money meant to be saved.
Can my child use the debit card at an ATM?
Yes, if the account comes with a debit card. Most children's checking accounts include a debit card. The child can use it to withdraw cash at ATMs or make purchases at stores. If the account has spending limits, those limits usually explore to debit card use as well.
Do I need to be a customer of the bank to open an account for my child there?
Not necessarily. Most banks let you open a child's account even if you do not have an account there yourself. However, some banks require at least one parent to have an account with them. Check the bank's website or call a branch to confirm their policy.
What if my child loses the debit card?
Call the bank when ready to report it lost or stolen. The bank will cancel the card and issue a new one, usually within 7 to 10 business days. Most banks do not charge a fee for a replacement card. Until the new card arrives, your child can still withdraw cash at ATMs using their PIN or visit a branch to withdraw money in person.