The basic answer: age requirements depend on the account type
You must be at least 18 years old to open a bank account in your own name at most banks in the United States. However, minors — people under 18 — can have bank accounts too, but with a parent or guardian as a co-owner or custodian. The exact rules vary by bank and by account type, so what one bank allows another might not.
If you are under 18 and want a bank account, you will need a parent or legal guardian to open it with you or for you. If you are 18 or older, you can open an account on your own without anyone else's permission or involvement.
Key Takeaways
- You must be at least 18 to open a bank account by yourself; minors need a parent or guardian as a co-owner.
- Some banks offer teen checking accounts for ages 13 and up, but they require parental involvement and may have spending limits.
- A parent can open a custodial account for a child of any age, though the child cannot access or control it until they reach the age the parent sets.
- When you turn 18, you can convert a teen or custodial account to a regular adult account, or open a completely new one at a different bank.
- You will need a government-issued ID to open any account; minors typically use a birth certificate or school ID along with the parent's ID.
Teen checking accounts for ages 13 and up
Many banks offer checking accounts designed for teenagers, usually starting at age 13. These accounts let a young person learn to use a debit card, write checks, and manage money while a parent keeps some control. The parent can see transactions, set spending limits, and receive alerts when the account is used.
Teen accounts often come with restrictions that adult accounts do not have. Some banks limit how much money can be spent per day or per transaction. Others require the parent to approve certain types of transactions, like online purchases or ATM withdrawals. These limits exist to protect the young person while they are learning.
The parent or guardian must be present when the account opens, and their name appears on the account alongside the teen's. This is different from a custodial account — the teen can use the account day-to-day, but the parent retains control.
Custodial accounts for children of any age
A parent or legal guardian can open a custodial account for a child at any age, even a newborn. The parent controls the account completely until the child reaches a certain age — usually 18 or 21, depending on the state and the bank. The child's name is on the account, but the child cannot access the money or make decisions about it.
Custodial accounts are often used to save money for a child's future — for education, a car, or other goals. The parent can deposit money, earn interest, and manage the account. When the child reaches the age of majority (usually 18), the account transfers to the child's full control, and the parent can no longer access it.
The rules for custodial accounts vary by state. Some states follow the Uniform Transfers to Minors Act (UTMA), while others follow the Uniform Gifts to Minors Act (UGMA). Both allow parents to transfer money to a child's account, but the details of when the child gains control differ. Ask your bank which law applies in your state.
What happens when you turn 18
When you reach 18, you have choices about your bank account. If you have a teen checking account or custodial account, you can keep it and convert it to a regular adult account. The bank will remove the parent's name and give you full control. You will no longer have spending limits or parental oversight.
You can also open a brand-new account at a different bank if you prefer. There is no requirement to stay with the bank where you had your teen account. Some people switch banks to get better interest rates, lower fees, or a different set of features.
If you have a custodial account that reaches maturity at 21 instead of 18, the account will transfer to your control at 21, not 18. Check with your bank about the specific age set when the account was opened.
Documents you will need to open an account
To open any bank account, you will need to prove who you are. For adults (18 and older), a government-issued photo ID is standard — a driver's license, passport, or state ID card. You will also need to provide a Social Security number or Individual Taxpayer Identification Number (ITIN).
For minors opening a teen or custodial account, the requirements are different. The parent or guardian brings their own government-issued ID and Social Security number. The minor typically brings a birth certificate, school ID, or state ID. Some banks accept a Social Security card as proof of the child's number; others ask the parent to provide it.
You may also need to bring proof of address — a utility bill, lease, or bank statement showing your current address. Some banks waive this requirement if you open the account online or if you already have other accounts with them. Call your bank before you go in to ask what documents to bring.
Opening an account online versus in person
Adults can open many bank accounts online without visiting a branch. The process is fast — often taking 10 to 15 minutes — and you can do it from home. You upload a photo of your ID, provide your Social Security number, and answer questions about your identity. The account is usually ready to use within one business day.
Minors cannot open accounts online by themselves. A parent or guardian must be involved, and most banks require at least one person to visit a branch in person. Some banks allow the parent to open the account online and then bring the minor to the branch to sign documents and receive a debit card. Other banks require both the parent and the minor to be present from the start.
If you are a minor, call the bank ahead of time to ask what the process is. Different banks have different rules, and knowing what to expect saves time and frustration.
Age requirements at different types of banks
The age rules described above explore to traditional banks and credit unions. Online banks — banks that operate only on the internet with no physical branches — often have the same rules, but some are stricter. A few online banks do not offer teen accounts at all and require you to be 18 to open any account.
Credit unions, which are member-owned financial institutions, often have more flexible rules than banks. Some credit unions allow minors to open accounts at younger ages or with fewer restrictions. If you are under 18 and interested in banking, ask your local credit union what options they offer.
Prepaid cards and digital wallets (like PayPal or Venmo) have their own age rules and are separate from bank accounts. These are not bank accounts, so they follow different rules. If you are interested in those options, look up the specific age requirement for the service you want to use.
Frequently Asked Questions
Can a 16-year-old open a bank account without a parent?
No. In all 50 states, you must be 18 to open a bank account by yourself. A 16-year-old can have a teen checking account or custodial account, but a parent or legal guardian must be involved. The parent either co-owns the account or is listed as the custodian.
What if my parent won't take me to open an account?
If you are under 18 and your parent or legal guardian will not help you open an account, you have limited options. You could ask another legal guardian, like a grandparent or aunt, if they have custody or guardianship. If you are in foster care, your caseworker or foster parent can help. If you are experiencing abuse or neglect, contact a local youth services organization for support.
Do I need a Social Security number to open a bank account?
Yes, in almost all cases. Banks are required by law to collect a Social Security number or ITIN. If you do not have a Social Security number, you can explore for one through the Social Security Administration. The process takes a few weeks. Some banks will not open an account until you have a number.
Can I keep my teen account after I turn 18?
Yes. When you turn 18, you can convert your teen account to a regular adult account. The parent's name is removed, and you gain full control. You will no longer have spending limits or transaction alerts going to your parent. You can also close the account and open a new one elsewhere if you prefer.
What is the difference between a teen account and a custodial account?
A teen account is for a young person to use day-to-day, with the parent monitoring and setting limits. A custodial account is controlled entirely by the parent, and the child cannot access it until they reach the age set by the parent — usually 18 or 21. Teen accounts teach money management; custodial accounts are for saving on a child's behalf.