What Age You Can Open a Bank Account

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

If you're under 18, you'll need a parent or guardian to open an account with you or for you. The account may be in your name alone, but the adult has legal control until you turn 18. If you're 18 or older, you can open an account on your own with just an ID and proof of address. Some banks let younger children (as young as 6 or 7) have accounts if a parent manages them, while others set their own minimum age at 13 or 16.

The specific age rules depend on the bank or credit union you choose, not on any federal law. Each institution decides whether to offer accounts to minors and at what age. This means two banks in the same town might have different policies.

Key Takeaways

You must be 18 to open a bank account by yourself; younger than that, you need a parent or guardian present.
Some banks offer accounts for children as young as 6 or 7, but a parent or guardian must be the account owner or co-owner until the child turns 18.
Each bank sets its own minimum age, so policies vary widely — call ahead or check the bank's website to learn what age they accept.
When you turn 18, you can convert a youth account to an adult account, or open a new one at a different bank if you prefer.

How accounts work for people under 18

When a minor opens an account, the parent or guardian is listed as the owner or co-owner. This gives them the legal right to manage the account, see all transactions, and withdraw money. The child's name is on the account, but they don't have independent control.

Some banks call these "youth accounts" or "teen accounts" and market them as a way to teach money management. Others straightforward open a regular checking or savings account with the parent as the primary owner and the child as an authorized user. The structure varies, but the result is the same: the adult has final say.

Many banks let the young person use a debit card linked to the account, which lets them make purchases and withdraw cash. Some youth accounts come with spending limits or require the parent to approve certain transactions. Others give the young person full access to the debit card but keep the parent as the account owner.

What happens when you turn 18

At 18, you become a legal adult and can take full control of the account. Some banks automatically convert the account to your name alone. Others require you to visit a branch or call to remove the parent as co-owner. A few banks ask you to open a new adult account instead.

You don't have to keep the same account after you turn 18. If you want to switch banks, open a new account elsewhere, or close the youth account and start fresh, you can do that. There's no penalty for moving your money to a different institution.

What you need to bring to open an account at 18 or older

To open an account as an adult, bring a government-issued photo ID (a driver's license, passport, or state ID card) and proof of your current address. Proof of address can be a utility bill, lease, mortgage statement, or bank statement in your name. Some banks accept a recent piece of mail from a government agency instead.

A few banks also ask for a Social Security number or an Individual Taxpayer Identification Number (ITIN). If you don't have a Social Security number, ask the bank whether they can open an account with an ITIN or another form of identification.

You don't need to bring a minimum deposit to open most checking or savings accounts, though some banks offer better interest rates or waive monthly fees if you maintain a certain balance. Ask about this when you visit or call.

Opening an account for a child under 18

If you're a parent or guardian opening an account for a child, bring your own ID and proof of address, plus the child's birth certificate or Social Security card. Some banks also ask to see the child in person, while others let you open an account for a young child without them present.

Call the bank ahead of time to ask what documents they need and whether the child has to be there. Policies vary widely, and some banks have age cutoffs below which they won't open accounts at all.

Banks and credit unions with accounts for young people

Large national banks like Chase, Bank of America, and Wells Fargo all offer youth or teen accounts, typically starting at age 13. Credit unions often have lower minimum ages and may accept children as young as 6 or 7. Online banks sometimes don't offer accounts for minors at all, so check before you try to open one.

If you're looking for an account specifically designed to teach a young person about money, some banks offer features like parental controls, spending limits, or automatic savings tools. Others straightforward open a regular account with the parent as co-owner. Neither approach is better — it depends on what you're trying to teach and what the bank offers.

What to do if a bank won't open an account for you

If you're under 18 and a bank turns you down, try a credit union instead. Credit unions are member-owned financial institutions that often have more flexible policies for young people. You can search for credit unions in your area on the CO-OP Network website or ask whether any credit unions serve your employer, school, or community.

If you're 18 or older and a bank won't open an account, ask why. Some banks use ChexSystems, a checking account history system, and may decline if you have unpaid overdrafts or fraud on record at another bank. Others may have restrictions based on immigration status or lack of a Social Security number. Understanding the reason helps you know whether to try a different bank or address the underlying issue first.

Frequently Asked Questions

Can a 16-year-old open a bank account without a parent?

No. You must be 18 to open an account on your own. At 16, you'll need a parent or guardian to open an account with you or for you. Some banks let 16-year-olds have accounts, but only with an adult as the owner or co-owner.

What's the difference between being an owner and an authorized user?

An owner has full legal control of the account and can close it, change the rules, or withdraw all the money. An authorized user can use the account (like with a debit card) but can't make major changes. When a minor has an account, the parent is usually the owner and the child is the authorized user, though some banks structure it differently.

Do I need a Social Security number to open a bank account?

Most banks ask for one, but not all require it. If you don't have a Social Security number, ask the bank whether they accept an ITIN or another form of identification. Some banks will open an account without either, though this is less common.

Can I move my money to a different bank after I turn 18?

Yes. You can close your account and open a new one at any bank that will have you. There's no penalty for switching. If you want to keep the same account, you can ask the bank to remove your parent as co-owner and convert it to an adult account in your name alone.

What if I'm 18 but don't have a photo ID?

Most banks require a government-issued photo ID to open an account. If you don't have one, get a state ID card from your local DMV or equivalent office. This is usually faster and cheaper than getting a passport. Some banks may make exceptions, so call ahead and ask what they can accept.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.