You can open a bank account at any age, but the rules change based on whether you're a minor or an adult

A child under 18 can have a bank account, but a parent or guardian must open it and stay on the account with them. Most banks call this a custodial account or minor account. Once you turn 18, you can open your own account without anyone else's permission or involvement. Some banks let you open an account at 13 or 14 if a parent co-signs; others require a parent to be a joint owner until you're older. The exact age and rules depend on which bank you choose.

The main difference between a minor account and an adult account is control. On a minor account, the parent can see all transactions, set spending limits, and close the account. On an adult account, only you can do those things. Some banks also charge different fees or offer different features depending on your age.

Key Takeaways

  • Children under 18 need a parent or guardian to open and co-own a custodial account with them.
  • At 18, you can open your own account without a parent's involvement, though some banks may still ask for proof of income or identity.
  • Different banks have different minimum age requirements for minor accounts—some start at age 13, others at 16.
  • A parent on a minor account can see transactions and set limits, but loses that access once you turn 18 and move to an adult account.

How custodial accounts work for minors

A custodial account is a real bank account in your child's name, but the parent or guardian is the legal owner until the child reaches the age of majority (18 in most states). The parent can deposit money, set up automatic transfers, and monitor spending. Many custodial accounts come with a debit card so the child can make purchases and withdraw cash.

The parent's role is to manage the account on behalf of the child. This means the parent can see every transaction, freeze the card if needed, and decide whether to allow certain purchases. Some banks let parents set daily spending limits or block certain types of transactions. When the child turns 18, the account automatically converts to an adult account, and the parent's access ends—though some banks require you to visit in person or call to make this official.

Custodial accounts are useful for teaching money habits because the child can see their balance, earn interest, and learn how debit cards work while the parent maintains oversight. There are no income requirements and no credit check, since the parent is responsible for the account.

Age requirements vary by bank

There is no single federal rule about the minimum age for a minor account. Each bank sets its own policy. Some banks allow accounts for children as young as 13; others require the child to be at least 16. A few banks have no stated minimum age and will open an account for any child whose parent is present.

Large national banks like Chase, Bank of America, and Wells Fargo typically allow accounts for children 13 and up. Credit unions often have similar policies, though some are more flexible. Online banks and fintech companies aimed at teens (like Greenlight, Current, or Step) may have different age rules and features designed specifically for younger users.

Before you visit a bank, call or check their website to confirm the minimum age. If your child is younger than the bank's minimum, you may need to wait a few months or try a different bank.

What you need to open an account for a minor

To open a custodial account, bring the parent or guardian and the child to the bank together. You will need:

  • A government-issued photo ID for the parent (driver's license, passport, or state ID)
  • A Social Security number or Individual Taxpayer Identification Number (ITIN) for the child
  • Proof of the parent's address (utility bill, lease, or mortgage statement dated within the last 60 days)
  • The child's birth certificate (some banks ask for this; others do not)

Some banks also ask for a second form of ID or proof of income from the parent, though this is less common for custodial accounts. Call ahead to ask what documents the specific bank requires so you don't make an extra trip.

Opening your own account at 18

Once you turn 18, you can walk into a bank and open an account on your own. You will need a government-issued photo ID (driver's license, passport, or state ID) and a Social Security number. Most banks also ask for proof of your current address, such as a utility bill, lease, or bank statement in your name.

If you don't have a photo ID yet, some banks will accept a school ID plus a second form of identification. If you don't have proof of address in your name, a parent's utility bill with a letter from you stating your address may work, though policies vary. Call the bank first to ask what they will accept.

You do not need a job or income to open a basic checking or savings account at 18. Banks do not run a credit check for deposit accounts. However, if you want a credit card or a loan later, the bank will look at your credit history and income at that time.

What happens when a minor turns 18

When you turn 18, your custodial account does not automatically close or change. The account stays open and the parent remains on it until you take action. To remove the parent, you typically need to visit the bank in person with your ID and ask to convert the account to a solo account. Some banks do this on the spot; others mail you new account documents to sign.

Once the parent is removed, they lose access to the account. They cannot see your balance, transactions, or card activity. If you want the parent to stay on the account as a joint owner (for example, to help manage finances or as a backup), you can ask the bank to keep them on. This is your choice, not automatic.

If you want to switch banks after turning 18, you can open a new account elsewhere and transfer your money. You do not have to stay with the bank where you had your custodial account.

Alternatives if you cannot open a bank account

If a bank near you has a minimum age requirement higher than your child's current age, you have a few options. Some credit unions have lower age minimums or more flexible policies than big banks. You can search for credit unions in your area using the CO-OP Network or Alliant Credit Union locator.

Online banks and fintech apps designed for teens often have lower age minimums and may not require a parent to visit a physical location. These accounts usually come with a debit card and mobile app so the child can check their balance and make purchases. The parent gets a separate app to monitor the account.

If you need a place to store money but cannot open a bank account yet, a prepaid debit card is another option. These do not require a bank account or a credit check, though they usually charge monthly fees. They are not as useful as a bank account because they do not earn interest and the protections are different, but they can work temporarily.

Frequently Asked Questions

Can a child open a bank account without a parent?

No. Children under 18 cannot open a bank account on their own. A parent or legal guardian must be present and co-own the account. Once you turn 18, you can open an account without anyone else's involvement.

Do I need a job to open a bank account at 18?

No. Banks do not require proof of income to open a checking or savings account. You only need a photo ID and a Social Security number. Income becomes relevant later if you want a credit card or loan.

What if my parent won't take me to open an account?

If you are under 18 and your parent refuses to help, you have limited options. Some credit unions or online banks may work with a different adult (like a grandparent or aunt) who can act as the custodian. Once you turn 18, you can open an account on your own without anyone's permission.

Can I have two bank accounts at the same time?

Yes. You can have a custodial account with a parent and also be added as an authorized user on a parent's account, or have multiple accounts at different banks. There is no rule against this. However, each account counts toward your total deposits if you are tracking money for tax purposes.

Does a custodial account hurt my credit?

No. A custodial account does not appear on your credit report and does not affect your credit score. Credit scores only track borrowing and repayment history, not deposit accounts. Opening a custodial account is purely about managing money, not building credit.