The minimum age depends on the account type and the bank
Most banks will not let you open an account on your own until you are 18. Before that, you need a parent or guardian to co-own the account with you. Some banks allow accounts for younger children, but only as a joint account where an adult has full control and can see all transactions.
A few banks and credit unions offer accounts specifically for minors starting at age 13 or even younger, but these still require parental involvement. The exact rules vary by institution — there is no single federal age requirement. What matters is what the bank you choose has decided.
Key Takeaways
- You must be 18 to open a bank account by yourself; before that, a parent or guardian must be a joint owner.
- Some banks offer teen accounts starting at age 13, but these require a parent to set them up and monitor them.
- A joint account means the adult can see all your transactions and withdraw money, so understand what privacy you are giving up.
- Once you turn 18, you can open your own account without parental permission, though some banks may still require proof of identity and address.
Joint accounts for children under 18
If you are under 18, the account will be in both your name and your parent's or guardian's name. The adult is the primary account holder and you are listed as a minor or secondary owner. This means the adult can deposit money, withdraw money, and see every transaction you make.
The adult is legally responsible for the account. If you overdraw it or the account is used fraudulently, the bank will pursue the adult for payment, not you. This is why banks require the adult to be present when the account opens — they are taking on the liability.
Some parents use joint accounts to teach their children about money. Others use them to deposit allowance or earnings. The key point is that you do not have privacy in a joint account; the adult can monitor spending and can remove funds at any time.
Teen accounts and what they offer
Banks like Chase, Bank of America, and Wells Fargo offer accounts marketed to teenagers, usually starting at age 13. These accounts still require a parent to open them and remain the primary owner, but they often come with a debit card in the teen's name and online banking access.
Some teen accounts include spending limits that the parent can set — for example, a daily ATM withdrawal limit or a cap on debit card purchases. Others let the parent turn off certain types of transactions, like online shopping. These features are designed to let teenagers use the account with some guardrails.
Teen accounts are not a separate legal category; they are joint accounts with extra features. The parent still owns the account and can see all activity. The difference is that the bank has built in tools to give the teen some independence while keeping the parent in control.
What happens when you turn 18
Once you turn 18, you can open your own account without a parent's permission. You will no longer need anyone to co-sign or co-own the account. The account will be in your name only, and only you can access it or make decisions about it.
If you already have a joint account with a parent, you have two choices: keep it as is, or convert it to an account in your name only. If you convert it, the parent will no longer be able to see transactions or withdraw money. Some banks make this conversion automatic on your 18th birthday; others require you to ask for it.
When you open your first account in your own name, you will need to bring a government-issued ID (like a driver's license or passport) and proof of your current address (like a utility bill or lease). Some banks also require a Social Security number.
Opening an account without a parent present
If you are 18 or older and want to open an account without a parent, you can walk into any bank branch or open one online. You do not need permission from anyone. The account is yours to control.
Online accounts are often faster — you can complete the process in 10 to 15 minutes from your phone or computer. In-person accounts take longer but let you ask questions and get a debit card on the spot. Either way, the bank will verify your identity and may check your banking history through a system called ChexSystems.
If you have never had a bank account before, ChexSystems will have no record of you, which is fine. If you have had accounts that were closed due to overdrafts or fraud, that history will show up, and some banks may decline to open an account for you. In that case, you can look for banks that offer second-chance accounts or use a credit union instead.
Accounts for children under 13
Most banks do not offer accounts for children under 13, even with a parent present. However, some credit unions and online banks do. For example, certain credit unions allow accounts starting at age 10 or 12, and some online banks have no stated minimum age as long as a parent is the primary owner.
These very young accounts are rare because banks see little profit in them and do not want the compliance burden. If you need an account for a young child, call your local credit union first — they are more likely to have options than a large national bank.
For children under 13 without a formal account, a parent can straightforward hold money in their own account and manage it on the child's behalf. This is not ideal for teaching financial independence, but it is legal and requires no special setup.
What you need to bring to open an account
| If you are under 18 | If you are 18 or older |
|---|---|
| Parent or guardian's government ID | Your government-issued ID (driver's license, passport, or state ID) |
| Your birth certificate or school ID | Proof of current address (utility bill, lease, or bank statement) |
| Proof of address (parent's utility bill or lease) | Your Social Security number |
| Your Social Security number | Initial deposit (amount varies by bank, often $25 to $100) |
| Initial deposit (amount varies by bank) |
Banks vary in what they require, so call ahead or check the bank's website before you go in. Some banks waive the initial deposit if you set up direct deposit. Others require a minimum balance to avoid monthly fees.
Frequently Asked Questions
Can I open a bank account at 16 or 17 without a parent?
No. You must be 18 to open an account in your name only. Before 18, any account you open will be a joint account with a parent or guardian as the primary owner. Some banks offer teen accounts starting at 13, but these still require parental involvement.
What if my parent won't let me open an account?
If you are under 18, you cannot open an account without a parent or legal guardian. If you are 18 or older, you can open one on your own at any bank. If you are under 18 and your parent refuses, you could ask another legal guardian, like a grandparent, to help instead.
Can I have a bank account without a Social Security number?
Most banks require a Social Security number to open an account. However, some banks and credit unions will open accounts for people without a Social Security number if they have an Individual Taxpayer Identification Number (ITIN). Call ahead to ask whether the bank you want to use accepts ITINs.
Does opening a bank account affect my credit score?
No. Opening a checking or savings account does not affect your credit score. Banks may check your banking history through ChexSystems, but that is separate from your credit report. Only borrowing money (loans, credit cards) affects your credit score.
What is the difference between a teen account and a regular joint account?
A teen account is a joint account with extra features designed for younger users, like spending limits or transaction controls that the parent can set. A regular joint account has no special features. Both require a parent to be the primary owner, and both let the parent see all transactions.