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

There is no minimum age to have a bank account in the United States. Infants and children can be account holders. However, if you're under 18, the account must be opened and managed by a parent or legal guardian — you cannot open one on your own. Once you turn 18, you can open and control your own account without anyone else's permission or involvement.

The specific rules vary slightly between banks and account types. A savings account for a child typically works differently from a checking account for a teenager, and both differ from what an adult can open. Understanding which route fits your situation — whether you're a parent setting up an account for a child, a teenager wanting your own account, or a young adult opening your first account — will help you know what documents to bring and what to expect.

Key Takeaways

  • Children of any age can have a bank account, but a parent or legal guardian must open it and remain on the account until the child turns 18.
  • Most banks allow teenagers to open a checking or savings account with a parent present, though some require the parent to be a joint owner.
  • At 18, you can open your own account without a parent's involvement, though you will need a government-issued ID and proof of address.
  • Some banks have accounts designed specifically for minors with features like spending limits or parental controls; others straightforward allow a parent to co-own a standard account.
  • If you're under 18 and want an account without a parent, a few banks and credit unions offer youth accounts that require only a parent's consent, not co-ownership.

Bank accounts for children under 13

A parent or legal guardian opens the account and is the primary account holder. The child's name appears on the account, but the parent controls all transactions, deposits, and withdrawals. The parent receives statements and can set up online banking access for themselves.

Most banks do not charge monthly fees for children's savings accounts. Some offer small interest rates or rewards for maintaining a balance. A few banks provide debit cards for children as young as 6 or 7, though the card is typically linked to parental controls that limit where and how much the child can spend.

You will need the child's Social Security number, birth certificate, and proof of the parent's identity and address. Some banks also ask for proof of the parent-child relationship, such as a birth certificate or adoption papers. Call ahead to confirm what documents your chosen bank requires.

Teen accounts for ages 13 to 17

Once a child reaches their early teens, banks often offer accounts designed specifically for teenagers. These accounts typically allow the teen to use a debit card, set up online banking, and make deposits and withdrawals — but with oversight from a parent.

The structure varies by bank. Some require the parent to be a joint owner on the account, meaning both the parent and teen can access it and see all transactions. Others allow the teen to be the primary account holder with the parent listed as a "custodian" who can monitor activity but cannot make transactions without the teen's knowledge. A smaller number of banks offer teen accounts where the parent gives consent but does not appear on the account at all.

Teen accounts often come with a debit card, online banking access, and mobile app features. Some banks set daily spending limits or require parental approval for transactions over a certain amount. Monthly fees are usually waived for accounts opened by minors, though this varies.

To open a teen account, bring the teen's Social Security number and birth certificate, plus the parent's ID and proof of address. Some banks ask the teen to be present in person; others allow the parent to open it alone. Check with your bank about whether the teen needs to attend the appointment.

Opening your own account at 18

At 18, you become a legal adult and can open a bank account entirely on your own. No parent or guardian needs to be involved, and you have full control over the account from day one.

You will need a government-issued photo ID (a driver's license, state ID card, or passport) and proof of your current address. Proof of address can be a utility bill, lease, mortgage statement, or bank statement in your name — it typically needs to be dated within the last 60 days. Some banks also ask for your Social Security number, which they use to check your banking history and prevent fraud.

At 18, you can open a checking account, savings account, or both. You can choose whether to get a debit card, set up direct deposit, and link the account to online banking. There are no restrictions on what you can do with the account once it is open.

What happens when a minor turns 18

If you had a joint account with a parent, the account does not automatically close or change when you turn 18. The parent remains on the account unless you both agree to remove them. You can visit the bank and request that the parent be removed, making you the sole account holder. Some banks allow this to happen over the phone or through online banking; others require both of you to visit in person.

If you want to keep the account as-is with your parent still listed, you can do that too. Some young adults keep a joint account with a parent for several years. The choice is yours once you reach 18.

If you had a custodial account where the parent was listed as a custodian but not a joint owner, the account may automatically convert to a standard account in your name when you turn 18. Check with your bank about their specific policy — it varies.

Banks and credit unions with different age policies

Most major banks (Chase, Bank of America, Wells Fargo, Citibank) allow children of any age to have accounts opened by a parent, and most allow teenagers to open their own accounts with a parent present starting around age 13.

Credit unions often have similar policies, though some are more flexible. A few credit unions offer youth accounts that require only parental consent, not co-ownership — meaning the teen is the sole account holder but the parent had to authorize the opening. This can be useful if you want more independence while still having parental involvement.

Online banks (Ally, Charles Schwab, Discover) typically do not offer accounts for minors at all, because they cannot verify identity in person. If you are under 18 and want to bank online, you will need to use a traditional bank or credit union with physical branches.

Some banks have minimum age requirements for certain features — for example, you might not be able to open a money market account or get a credit card until you are 18, even if you can have a checking account at 16. Ask your bank about any restrictions on the specific account type you want.

Frequently Asked Questions

Can a teenager open a bank account without a parent?

Not at most banks. Minors under 18 cannot legally enter into a contract, and a bank account is a contract. A parent or legal guardian must be involved — either as a joint owner or as someone who authorized the account. A few credit unions offer accounts where the parent gives consent but does not appear on the account; ask your local credit union whether they offer this option.

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

You will need some form of government-issued photo ID to open an account as an adult. A driver's license or state ID card is most common. If you do not have either, you can get a state ID card from your local DMV — it costs money and requires proof of identity and residency, but it is the standard way to solve this problem. Some banks may accept a passport or tribal ID as an alternative; call ahead to ask.

Can I remove my parent from my account after I turn 18?

Yes. Visit your bank and request that the parent be removed as a joint owner or custodian. Some banks allow this over the phone or online; others require both of you to visit in person. Once the parent is removed, you are the sole account holder and they have no access to it.

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

Most banks require a Social Security number to open an account, but not all. Some banks will open an account using an Individual Taxpayer Identification Number (ITIN) instead, which is available to non-citizens. Call your bank and ask whether they accept ITINs if you do not have a Social Security number.

What's the difference between a joint account and a custodial account?

A joint account means both people (parent and child) are owners and can access the account, see transactions, and make withdrawals. A custodial account means the parent is listed as a custodian for monitoring purposes but the child is the legal owner — though in practice, the parent usually controls it until the child is older. Ask your bank which type they offer for minors.