What you need to open a child's account

Most banks let you open an account for a child under 18, but the process depends on the child's age and whether you are the parent or guardian. For children under 13, you will almost always need to be present in person with a government-issued ID. For teenagers 13 and older, some banks let them open accounts online with a parent's consent, though many still require an in-person visit.

The documents you will need vary by bank, but the standard list includes: your government-issued ID (driver's license or passport), proof of address (a recent utility bill or lease), the child's Social Security number, and the child's birth certificate. Some banks ask for a second form of ID or a document showing your relationship to the child if you are not the biological parent. Call your bank before you go in — requirements differ between institutions and sometimes between branches.

You will also need to decide what type of account to open. A custodial account (also called a UTMA or UGMA account in some states) is owned by the child but managed by you until they reach the age of majority — usually 18 or 21, depending on your state and the account type. A joint account is owned by both you and the child, and either of you can withdraw money. A savings account in the child's name alone is possible at some banks if the child is old enough, though you will still need to be present to set it up.

Key Takeaways

  • Children under 13 almost always require a parent or guardian to be present in person with a government-issued ID to open an account.
  • You will need the child's Social Security number and birth certificate, plus your own ID and proof of address.
  • Custodial accounts let you manage the money until the child reaches adulthood, while joint accounts give both of you access when ready.
  • Banks differ on whether they allow online account opening for teenagers 13 and older; call ahead to confirm your bank's policy.
  • Some banks offer accounts designed for children with no monthly fees, no minimum balance, and parental controls built in.

In-person account opening for children under 13

If your child is under 13, you will need to visit a branch in person. Bring your government-issued ID, proof of your current address, the child's birth certificate, and the child's Social Security number. The bank will verify your identity and your relationship to the child, then set up the account in your name as custodian or as a joint account holder.

The appointment usually takes 15 to 30 minutes. The bank will explain the account terms — whether there are monthly fees, what the interest rate is (if any), and what restrictions explore. For custodial accounts, they will explain when the child gains control of the money and what happens to the account at that point. Ask whether the bank offers a debit card for the child and at what age the child can use it.

Online and in-app account opening for teenagers

Some banks and fintech companies let teenagers 13 and older open accounts through an app or website, though a parent must consent and usually verify their own identity first. The process typically works like this: the parent downloads the app, enters their own information and ID, then invites the teenager to create their own login. The teenager enters their name, date of birth, and Social Security number, and the bank verifies the information against public records.

Not all banks offer this option. Traditional banks like Chase and Bank of America still require an in-person visit for most child accounts, even for teenagers. Fintech companies like Greenlight, Step, and GoHenry are built around online account opening for kids and offer more parental controls — you can set spending limits, require approval for purchases, or lock the card remotely. If online opening matters to you, check your bank's website or call to confirm they offer it before you start the process.

Custodial accounts versus joint accounts

A custodial account is legally owned by the child but managed by you. You control all the money and all the decisions about it until the child reaches the age of majority — 18 in most states, 21 in others. At that point, the account transfers to the child's full control, and you lose access. Custodial accounts are useful if you want to save money for the child's future without them being able to spend it before they are ready.

A joint account is owned by both you and the child equally. Either of you can deposit or withdraw money at any time, and either of you can close the account. Joint accounts are simpler to set up and manage, but they give the child when ready access to the money. If the child is very young, this means you are the only one who will actually use the account. If the child is a teenager, they can withdraw money without your permission.

The choice between them depends on your goal. If you are saving for the child's college or future and want to prevent them from spending it, a custodial account is the right choice. If you want to teach the child about money and give them some control over their own account, a joint account works better. Some parents use both — a custodial account for long-term savings and a joint account for the child's allowance or earnings.

What happens when the child turns 18

If you opened a custodial account, the bank will automatically transfer it to the child's sole control on their 18th birthday (or 21st, depending on your state and the account type). You will lose access to the account and will no longer be able to see the balance or make deposits. The child will receive notice from the bank that the account has changed, usually a few weeks before the transfer happens.

If you opened a joint account, nothing changes automatically. You both retain access unless one of you closes the account or removes the other person. Some parents close joint accounts before the child turns 18 and help the child open their own account instead. Others keep the joint account open as a way to stay involved in the child's finances. There is no legal requirement either way.

Fees, interest, and account features to compare

Children's accounts often have different terms than adult accounts. Many banks waive monthly maintenance fees for accounts opened for minors, or charge a lower fee than they would for an adult account. Interest rates on savings accounts are typically very low — often less than 0.01 percent — though some online banks and fintech companies offer higher rates.

Look at whether the account comes with a debit card, and at what age the child can use it. Some banks issue debit cards when ready; others wait until the child is 13 or older. Check whether the card has spending limits you can set, whether you get alerts when the child uses it, and whether the bank offers overdraft protection (which prevents the account from going negative) or charges overdraft fees.

If you are opening an account at a fintech company rather than a traditional bank, confirm that the company is insured by the FDIC (Federal Deposit Insurance Corporation) or holds deposits at an FDIC-insured bank. This protects the money in the account up to $250,000 if the company fails. Most reputable fintech companies display this information on their website.

Frequently Asked Questions

Can I open a bank account for my child if I do not have a Social Security number?

Most banks require the child's Social Security number to open an account. If your child does not have one, you can request one from the Social Security Administration before you visit the bank. The process takes a few weeks. Some banks may accept an Individual Taxpayer Identification Number (ITIN) instead, though this is less common — call ahead to ask.

What if I am a guardian but not the biological parent?

You can open an account for a child in your care, but you will need to prove your guardianship. Bring a copy of the court order or legal guardianship document along with your ID. If you have informal guardianship (the child lives with you but there is no court order), policies vary by bank — some will accept a notarized letter from the parent, and others will not. Call your bank to ask what they need.

Can my child have their own account without me on it?

It depends on the child's age and the bank. Most banks require a parent or guardian to be on the account if the child is under 18. Some banks let teenagers 16 or older open accounts in their own name, though a parent usually still needs to be present to verify consent. A few fintech companies let younger teenagers open accounts with parental consent but without the parent being a joint owner — the parent has monitoring access but not ownership. Check your specific bank's policy.

Do I need to bring the child with me to open the account?

For children under 13, most banks do not require the child to be present — you can open the account with just your ID and the child's documents. For teenagers, policies vary. Some banks want the teenager present to verify their identity in person; others let you open the account and add the teenager later. Call ahead to confirm what your bank requires.

What is the minimum age to open a bank account for a child?

There is no legal minimum age. Banks can open accounts for infants if a parent or guardian is present with the required documents. In practice, most banks will open an account for a child of any age as long as you provide the child's Social Security number and birth certificate.