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 turn 18. Before that, you need a parent or legal guardian to co-own the account with you. Some banks allow accounts for children as young as birth, but only if an adult is the account holder and can make decisions about the money.

A few banks and credit unions have lowered the age to 13 or 16 for accounts designed for teens, usually with restrictions on what you can do without a parent's permission. The rules vary by institution, so calling ahead or checking the bank's website will tell you what that specific bank offers.

Key Takeaways

  • You must be 18 to open a bank account in your own name without a parent or guardian present.
  • Before 18, you can have a joint account where a parent or guardian is the co-owner and can see all transactions.
  • Some banks offer teen accounts starting at age 13 or 16, but these usually come with limits on transfers or withdrawals.
  • The specific age and rules depend on the bank or credit union, so you will need to contact them directly to learn what they offer.

Joint accounts for minors under 18

A joint account is the standard way for someone under 18 to have a bank account. You and your parent or guardian both own it, and either of you can deposit or withdraw money. The bank treats both of you as account holders, so both names appear on the account and both of you receive statements.

The parent or guardian can see every transaction and set rules about how the account is used. Some banks let them set daily withdrawal limits or require approval for large transfers. This is the most common path for children and teenagers who need a place to keep money, receive paychecks, or learn to manage spending.

Teen accounts with age restrictions

Some larger banks and credit unions have created accounts specifically for teenagers aged 13 to 17. These are not joint accounts in the traditional sense — the teen is usually the primary account holder, but a parent or guardian must still authorize the account opening and may have oversight rights.

Teen accounts often come with built-in limits: a cap on daily withdrawals, restrictions on wire transfers, or requirements that certain transactions be approved by the parent first. The goal is to give teenagers more independence while keeping parents informed. Examples include Chase First Banking (for ages 6 to 17) and Bank of America's BankAmericard for Students (for ages 13 to 17), though the features and age ranges change over time.

What you need to bring to open an account

To open a joint account, you and your parent or guardian both need to be present at the bank or credit union. Bring a government-issued photo ID for the adult — a driver's license or passport. For the minor, the bank may accept a school ID, birth certificate, or state ID, depending on the institution.

You will also need proof of address, usually a recent utility bill or lease in the adult's name. Some banks ask for a Social Security number for both the adult and the minor. A few banks now allow you to open accounts online with a video call, so you may not need to visit a branch in person.

Differences between banks and credit unions

Banks and credit unions have different rules. Most national banks (Chase, Bank of America, Wells Fargo) require you to be 18 to open an account alone, though many offer teen accounts starting at 13 or 16. Credit unions, which are member-owned and often smaller, sometimes have lower minimum ages or more flexible rules because they serve their specific communities.

Credit unions may let you open an account at a younger age or with fewer documents. If you belong to a credit union through a parent's employer or membership, ask them directly what age they allow. The rules are not standardized across the industry, so the bank or credit union you choose will determine what is available to you.

What happens when you turn 18

When you reach 18, you can convert a joint account to an account in your name alone, or you can keep it as a joint account if you and your parent both want to. The bank will ask you to confirm in writing that you want to make the change. Some banks do this automatically; others require you to visit a branch or call to request it.

If you want to move your money to a different bank or open a new account elsewhere, you can do that at any time. You will need your Social Security number, a photo ID, and proof of address. The new bank can help you transfer money from your old account if you ask.

Frequently Asked Questions

Can I open a bank account without a parent if I am under 18?

No. All banks require a parent or legal guardian to be present and co-sign for anyone under 18. Some banks offer teen accounts where the teen is the primary holder, but a parent must still authorize the account opening and may have oversight rights.

What if my parent does not want a joint account?

Your parent can open an account in their own name and give you access to a debit card linked to it, though they will control the account. This is not the same as you having your own account, but it lets you use the card to make purchases or withdraw cash. Another option is to ask a legal guardian or trusted adult to open a joint account with you instead.

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

Most banks require a Social Security number for both the adult and the minor. If you do not have one, you can explore for one through the Social Security Administration. Some banks may accept an Individual Taxpayer Identification Number (ITIN) instead, but this is less common.

Can I open an account online if I am under 18?

Some banks allow online account opening for minors with a video call where a parent verifies their identity. Others require you to visit a branch in person. Call the bank or check their website to see if they offer online opening for your age group.

What is the difference between a joint account and a teen account?

A joint account has two owners with equal rights — both can withdraw money and make decisions. A teen account usually makes the teen the primary holder with the parent as a guardian or co-signer who has oversight but not full ownership. Teen accounts often have built-in limits on withdrawals or transfers.