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

If you are under 18, you will need a parent or guardian to open an account with you or for you. Most banks call this a custodial account or minor account — it is a real bank account in your name, but the adult has legal control until you turn 18. If you are 18 or older, you can walk into a bank or explore online and open an account on your own, with no one else involved.

The specific age when you can take over the account yourself varies by bank. Some let you manage it at 16 or 17 while the parent still has access. Others wait until 18. A few banks have no minimum age at all for opening an account — they just require the parent to be present or to authorize it online. The best way to know what your bank offers is to call them directly or check their website for "youth accounts" or "teen accounts".

Key Takeaways

  • Children under 18 need a parent or guardian to open a bank account, but the account belongs to the child and builds their credit history.
  • Custodial accounts let parents monitor spending and teach money habits, but the rules for when the child takes full control differ by bank.
  • At 18, you can open your own account without a parent's permission or involvement.
  • Some banks offer teen accounts with limited features or spending caps; others treat minor accounts the same as adult accounts once opened.
  • You will need an ID or Social Security number to open any account, whether you are a minor or an adult.

How custodial accounts work for children and teens

A custodial account is opened in the child's name, with the parent or guardian listed as the custodian. The child gets a debit card and can use the account to spend money, but the parent can see all transactions and set rules — some banks let parents set daily spending limits or block certain types of purchases. The account reports to the child's credit history, so using it responsibly (not overdrawing, keeping a balance) starts building their credit score years before they need to borrow money.

The parent does not own the money in the account. If the parent puts $100 in, that $100 belongs to the child legally, even though the parent controls how it is used. This matters if the parent and child's relationship breaks down or if the parent faces legal trouble — the money cannot be seized to pay the parent's debts.

When the child turns 18, what happens next depends on the bank. Some automatically convert the account to a standard adult account and remove the parent's access. Others keep the parent on the account unless both the child and parent ask to remove them. A few require the child to open a new account entirely. You should ask your bank before opening the account what the transition looks like, so there are no surprises on the child's 18th birthday.

What you need to bring to open an account as a minor

Both the child and the parent or guardian need to be present, either in person at a branch or online via video call, depending on the bank. Bring a government-issued ID for the adult — a driver's license or passport. For the child, bring either a birth certificate, school ID, or passport if they have one. Some banks accept a state ID card for children as young as 13.

You will also need a Social Security number for the child. If the child does not have one yet, you can request one from the Social Security Administration before opening the account, or some banks will help you explore during the account opening. The process takes a few minutes and is free.

Have the parent's contact information ready — phone number, email, and current address. The bank will use this to verify the parent's identity and send account statements and alerts.

Opening your own account at 18

Once you turn 18, you can open a bank account without anyone else's permission or involvement. You will need a government-issued ID (driver's license, passport, or state ID) and your Social Security number. You can do this in person at a bank branch or online through the bank's website or app.

If you already have a custodial account from childhood, you do not have to open a new one — the bank will convert it to an adult account. But if you want to switch banks or start fresh, you are free to do so. If you do switch, ask the old bank how to close the account or whether the parent needs to sign off on closing it.

At 18, you are also old enough to be denied an account if you have a history of overdrafts, fraud, or unpaid fees at other banks. Banks check a system called ChexSystems that tracks banking problems. If you were added to a parent's account as a child and that account had issues, it may show up on your record. Ask the bank to explain any denial before giving up — some banks have second-chance accounts for people with banking history problems.

Banks and credit unions with youth account options

Most major banks offer custodial accounts, but the features and age limits vary. Some examples: Chase offers accounts for children as young as 6 with a parent, and the child can manage it independently starting at 16. Bank of America has a similar program. Credit unions often have youth accounts too, and they may have lower fees or higher spending limits than big banks.

Some online banks do not offer custodial accounts at all — they require the account holder to be 18. If you are looking for a bank specifically because you want a youth account, call ahead or check the bank's website for "teen account" or "youth savings" to confirm they offer it.

The features that matter most are usually: whether the child can use the account independently (debit card, online access), whether the parent can set spending limits, and what happens at 18. Ask about fees too — some banks charge monthly fees for youth accounts, others do not.

What happens if you do not have a Social Security number

If you are a child or teen without a Social Security number, you can still open a bank account in most cases. You will need to get a number first, which takes about two weeks. You can request one online at ssa.gov, by mail, or in person at your local Social Security office. Bring the child's birth certificate, proof of citizenship or legal residency, and an ID for the parent.

Some banks will let you open an account while your Social Security number process is pending, but they will ask you to provide the number as soon as it arrives. Others will not open the account until the number is in the system. Call your bank to ask what they require.

If you are an immigrant or do not have a Social Security number for another reason, some banks and credit unions will open accounts using an ITIN (Individual Taxpayer Identification Number) instead. This is less common, so you may need to call several banks to find one that accepts it.

Frequently Asked Questions

Can a 10-year-old have their own bank account?

Yes, but only as a custodial account with a parent or guardian. The account is in the child's name and builds their credit, but the parent controls it until the child turns 18 (or until the bank's rules say the child can take over, which may be earlier). Some banks let children as young as 6 open accounts this way.

What if the parent and child disagree about closing the account?

Until the child turns 18, the parent has legal authority to close a custodial account. After 18, the account belongs to the child and the parent cannot close it without the child's permission. If you are a teen and worried about this, talk to your parent about what will happen when you turn 18, or ask the bank what their policy is.

Does opening a bank account as a minor hurt my credit?

No. Opening a bank account does not affect your credit score at all. Using the account responsibly — keeping money in it, not overdrawing — can help build credit over time, but straightforward having the account open does nothing negative. Credit scores are based on borrowing and repaying loans, not on bank accounts.

Can I open a bank account online if I am under 18?

Some banks let you open a custodial account online with a video call where the parent verifies their identity. Others require you to come to a branch in person. Check the bank's website or call to ask whether they offer online opening for minors — it varies widely.

What if I turn 18 and my parent is still on my account?

The account will either convert automatically to an adult account with the parent removed, or the parent will stay on unless you both ask to remove them. Contact your bank to find out which happens, and if the parent is still on the account and you want them off, ask the bank how to remove them. You may need to go to a branch in person or sign a form.