What Age You Can Open a Bank Account

The minimum age depends on the account type and the bank

Most banks let you open a checking or savings account at age 18 in your own name. Before 18, you need a parent or guardian to open a joint account with you, where both names appear on the account and both people can withdraw money. Some banks allow this from age 13 or 14; others start at 16. A few banks have no minimum age if a parent is the account holder.

The rules are set by each bank, not by federal law. A Chase branch in one state might allow accounts at 16, while a Wells Fargo branch elsewhere starts at 18. Credit unions often have different rules than national banks. The only way to know what a specific bank offers is to call or visit a branch and ask.

Key Takeaways

• You can open an account in your own name at 18 at most banks, but some allow it as early as 16.
• Before 18, you need a parent or guardian on the account with you, and both of you can access the money.
• Each bank sets its own minimum age, so the rule varies by institution and sometimes by location.
• Some banks offer teen accounts with restrictions on spending or transfers, designed for younger account holders.

Joint accounts for minors under 18

A joint account is the standard way for someone under 18 to have a bank account. The parent or guardian's name and the minor's name both appear on the account. Both people can deposit money, withdraw money, and see all transactions. The bank treats it as one account with two owners, not as a separate teen account.

The parent or guardian is legally responsible for the account and can close it at any time. If the minor turns 18, the account does not automatically convert to a solo account—you have to go to the bank and change it. Some banks make this straightforward; others require paperwork or a new account number.

Teen accounts with spending limits

Some banks offer accounts designed specifically for teenagers, usually between ages 13 and 17. These accounts come with restrictions: the parent can set daily spending limits, block certain types of transactions, or require approval for large withdrawals. The parent can also see all activity in real time through a mobile app.

Examples include Chase First Banking (ages 6 to 17), Bank of America BankSafe (ages 8 to 17), and Capital One MONEY (ages 8 to 17). These accounts are not required—a regular joint account works just as well—but they give parents more control over how money is spent. Fees vary; some have no monthly fee if the parent maintains a may have access to account with the same bank.

What you need to bring to open an account

For a minor opening a joint account, bring the minor's Social Security number or Individual Taxpayer Identification Number (ITIN), a form of ID (school ID, state ID, or passport), and proof of address like a utility bill or lease. The parent or guardian needs their Social Security number, a government-issued ID, and proof of address.

Some banks accept documents by mail or through a mobile app; others require you to visit a branch in person. Call ahead to ask what the bank accepts and whether you can complete the process online or need to come in. If the minor does not have a Social Security number yet, some banks will still open an account but may delay issuing a debit card until one is provided.

Accounts at 18 and what changes

At 18, you can open a checking or savings account in your own name without a parent or guardian. You need your Social Security number, a government-issued ID, and proof of address. You can do this online, by mail, or in person at a branch, depending on the bank.

Once you turn 18, you can also open accounts at different banks without parental permission, explore for a debit card or credit card, and set up direct deposit from an employer. If you had a joint account as a minor, you can keep it as is, convert it to a solo account, or open a new account elsewhere. There is no requirement to do anything—the account stays active unless you close it.

Opening an account before you have an ID

If you are under 18 and do not have a state ID or passport yet, most banks will still open a joint account using a school ID plus proof of address. Some banks accept a birth certificate instead of a government ID. A few will open an account with just the parent's ID if the minor is very young.

If you do not have a Social Security number, ask the bank whether it will open an account without one. Some will; others will not issue a debit card until you provide one. Getting a Social Security number takes a few weeks through the Social Security Administration, so plan ahead if you know you will need one.

Credit unions and online banks

Credit unions often have lower minimum ages than traditional banks. Some allow accounts at age 13 or younger if a parent is on the account. Online banks like Ally, Charles Schwab, and Discover typically require you to be 18 to open an account in your own name, but some allow joint accounts for minors.

Online banks usually have no branch locations, so you complete everything by phone, email, or their website. This can be faster than visiting a bank in person, but you cannot deposit cash directly—you have to transfer money from another account or use mobile check deposit. If you need to deposit cash regularly, a traditional bank or credit union with branches may be more practical.

Frequently Asked Questions

Can a 16-year-old open a bank account alone?

Some banks allow it, but most require a parent or guardian on the account until 18. Call your bank to ask their specific policy. If they do not allow solo accounts at 16, you can open a joint account instead.

What happens to a joint account when the minor turns 18?

The account does not change automatically. You can keep it as a joint account, convert it to a solo account by visiting the bank, or leave it and open a new account elsewhere. The bank will not force any action.

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

Some banks will open an account without one, but most will not issue a debit card until you provide your Social Security number. Ask the bank before you explore. You can get a Social Security number through the Social Security Administration website.

Do teen accounts cost money?

Most teen accounts have no monthly fee, but some charge a small fee if the parent does not maintain a may have access to account with the same bank. Check the bank's fee schedule before opening. Regular joint accounts usually have no fee either.

Can a parent close a minor's account without permission?

Yes. On a joint account, either owner can close it. If the minor is 18 or older and the account is in their name alone, the parent cannot close it without their permission.