Minors can open checking accounts, but an adult must co-own the account

A minor under 18 cannot open a checking account alone. Every bank and credit union requires a parent or legal guardian to open the account jointly, meaning both names appear on the account and both can access the funds. The adult is legally responsible for the account and any overdrafts or fees.

Some banks allow minors as young as 13 to have a joint account; others set the minimum at 16. A few institutions offer teen-specific accounts designed for this purpose, with features like spending limits or parental controls. The specific rules depend on the bank or credit union you choose.

Once a minor turns 18, they can convert the joint account to their own name alone, or open a separate account without a co-owner. Until then, the adult on the account retains full legal control.

Key Takeaways

  • A parent or legal guardian must co-own the account with the minor; the minor cannot be the sole account holder.
  • Minimum age requirements vary by institution—some allow accounts at 13, others require 16 or older.
  • The adult on the account is legally responsible for overdrafts, fees, and any account activity.
  • You will need the minor's Social Security number, proof of identity, and the adult's identification and Social Security number to open the account.
  • At age 18, the minor can remove the adult from the account or open a new account independently.

What documents you need to bring

Both the minor and the adult must provide identification. Acceptable forms include a state ID, driver's license, or passport. The minor may also need a school ID or birth certificate if they do not have a state-issued ID yet.

You will need both Social Security numbers—the minor's and the adult's. If either person does not have a Social Security number, some banks will accept an Individual Taxpayer Identification Number (ITIN) instead, though this varies by institution.

Bring proof of address for the adult, such as a recent utility bill, lease, or mortgage statement. Some banks also ask for the minor's proof of address, though they may accept the adult's if both live at the same location. Call the bank ahead of time to confirm what they require.

Age requirements and account types

Banks and credit unions set their own minimum ages. Most allow joint accounts starting at age 13, but some require the minor to be 16 or older. A few institutions have no stated minimum and will open accounts for younger children if a parent co-owns.

Many larger banks offer teen checking accounts with built-in safeguards. These accounts may include spending limits, parental alerts when the balance drops below a set amount, or restrictions on certain types of transactions. Chase, Bank of America, Wells Fargo, and Ally all offer teen accounts, though the features and age minimums differ.

Credit unions often have more flexible policies than large banks. If you belong to a credit union, contact them directly—they may allow younger minors or offer accounts with fewer restrictions.

How the account works once it is open

Both the minor and the adult can deposit and withdraw money. Both can see the full transaction history and account balance. The adult typically receives statements and can set up alerts, though some banks allow the minor to receive their own alerts as well.

The minor can use a debit card linked to the account, usually starting at age 13 or 16 depending on the bank. Some institutions restrict online transfers or ATM withdrawals for minors, or require the adult to approve certain transactions. Check with your bank about what the minor can and cannot do independently.

If the account goes into overdraft, the adult is responsible for paying the negative balance and any overdraft fees. Some teen accounts have overdraft protection that prevents the account from going negative, or they charge lower fees than standard accounts.

What happens when the minor turns 18

At age 18, the minor becomes a legal adult and can take full control of the account. They can remove the co-owner's name, change the account type, or close it and open a new account elsewhere. The bank will not do this automatically—the now-adult account holder must request the change.

Some banks make the transition seamless by converting the joint account to a standard adult account. Others require the 18-year-old to open a new account and transfer the balance. Contact your bank to learn their specific process.

If the minor wants the adult to remain on the account after turning 18, both parties can agree to keep the joint arrangement. This is optional and requires both signatures.

Alternatives if a bank account is not available

If no bank or credit union will open an account for your minor, or if you prefer not to use a traditional bank, prepaid debit cards are an option. These cards can be loaded with money and used like a checking account, though they do not build credit history and may charge monthly or per-transaction fees.

Some employers and schools offer prepaid cards or accounts designed for minors. PayPal and similar digital payment services also allow minors to have accounts, though usually with parental oversight and spending limits.

These alternatives do not replace a checking account—they do not come with check-writing, online bill pay, or the same fraud protections—but they can work for basic spending and saving.

Frequently Asked Questions

Can a minor open a checking account without a parent?

No. Every bank and credit union requires a parent or legal guardian to co-own the account. A minor cannot be the sole account holder at any age under 18.

What if the minor's parent is not available to open the account?

A legal guardian can co-own the account instead of a parent. This includes grandparents, aunts, uncles, or others with legal guardianship. You will need documentation of the guardianship, such as a court order or custody agreement.

Do minors build credit with a checking account?

No. Checking accounts do not report to credit bureaus, so opening one does not build credit history. Credit cards and loans are what build credit. However, a checking account is a useful first step toward financial independence.

Can the adult remove money from the minor's account without permission?

Yes. Because the adult is a co-owner, they have full legal access to the account and can withdraw money at any time. This is why it is important to choose a trustworthy co-owner.

What happens if the co-owner passes away?

The account becomes the sole property of the surviving account holder. If the minor is the surviving account holder, they retain full access. If the adult is the surviving account holder, the minor may lose access unless the account is transferred through the adult's estate. Discuss this scenario with your bank and consider naming a backup guardian.