What documents and information you'll need

To open a bank account for a child, you will need your own government-issued ID and the child's Social Security number or tax ID. Most banks also ask for proof of your address — a recent utility bill, lease, or mortgage statement works. Some banks want to see the child's birth certificate as well, though not all require it.

The exact list varies by bank. Before you go in, call the branch or check their website for their specific requirements. This takes five minutes and saves you a trip back home for a missing document.

If you're opening an account for a child under 18, you will be the account owner and the child will be an authorized user. This means you control the account, can see all transactions, and are responsible for any fees. The child can use the debit card and make deposits, but cannot close the account or change settings without your permission.

Key Takeaways

  • You need your own government ID, the child's Social Security number, and proof of your address to open most children's bank accounts.
  • The child's birth certificate is sometimes requested but not always required — call your bank first to confirm what they need.
  • You remain the account owner and can see all activity, set spending limits, and control account settings until the child reaches 18.
  • Different banks have different minimum balances and monthly fees for children's accounts, so comparing a few options before you open saves money over time.

Why banks ask for these documents

Banks ask for your ID because federal law requires them to verify who is opening the account. This is called Know Your Customer (KYC) compliance. It protects both you and the bank by preventing fraud and money laundering.

The child's Social Security number serves the same purpose — it ties the account to a real person and lets the bank report account activity to credit bureaus later. If the child doesn't have a Social Security number yet, some banks will let you open the account with an Individual Taxpayer Identification Number (ITIN) instead, though this is less common.

Proof of address confirms that you actually live where you say you do. Banks use this to prevent criminals from opening accounts in other people's names at addresses they don't live at.

Types of accounts banks offer for children

Most banks offer a youth savings account or teen checking account. A savings account is simpler — it has a debit card or passbook, earns a small amount of interest, and limits how many withdrawals you can make per month. A checking account works more like an adult account, with a debit card and check-writing ability, but usually has a monthly fee.

Some banks offer accounts specifically for younger children (under 13) that have no debit card at all — you manage all transactions online or at the branch. Others have accounts for teenagers (13 to 17) that come with a debit card and let the teen make their own purchases.

A few banks offer custodial accounts, which are different. You open them in the child's name, but you control the money until they turn 18 or 21 (depending on your state). These are less common for everyday banking and more often used for saving money the child will receive later, like from a relative or a settlement.

What happens at the bank

Bring all your documents and the child if possible — some banks like to see the child in person, though not all require it. The banker will ask you questions about why you're opening the account, verify your identity by checking your ID, and confirm the child's information.

They will explain the account rules: what the monthly fee is (if any), what the minimum balance is (if any), whether the account earns interest, and what the debit card limits are. They will also ask whether you want online banking and whether you want paperless statements or paper ones mailed to your home.

The whole process usually takes 15 to 30 minutes. You'll sign paperwork, the banker will set up the debit card if the account comes with one, and you'll leave with your account number and online login information. The debit card itself usually arrives in the mail within 5 to 10 business days.

Minimum balances and monthly fees

Some children's accounts have no minimum balance and no monthly fee. Others require you to keep $25 or $100 in the account at all times, or charge $5 to $10 per month. A few waive the monthly fee if you set up direct deposit or keep a certain balance.

Before you open an account, ask the banker what the fee is and whether it applies to you. If the account charges $10 a month and you only plan to keep $50 in it, you're losing 20 percent of your money to fees every year. Comparing three banks takes an hour and can save you $100 or more over the years your child uses the account.

Credit unions often have lower fees than big banks, and some community banks offer children's accounts with no fees at all. If you're a member of a credit union, check there first.

Setting up online access and monitoring

Most banks let you set up online banking the same day you open the account. You'll get a username and password, and you can then see the account balance, recent transactions, and transfer money between accounts.

Some banks also let you set spending limits on the child's debit card — for example, you can limit the card to $50 per day or $200 per week. This is done through the bank's app or website, not at the branch. If your bank offers this feature, ask the banker how to turn it on.

You can also usually set up alerts so the bank texts or emails you when the balance drops below a certain amount or when the card is used. This helps you catch fraud quickly and teaches the child to think about spending.

Frequently Asked Questions

Does my child need a Social Security number to open an account?

Yes, most banks require it. If your child doesn't have one yet, you can get one from the Social Security Administration — it takes about two weeks. A few banks will accept an ITIN (Individual Taxpayer Identification Number) instead, but this is uncommon. Call your bank before you explore to see if they have an alternative.

Can I open an account without bringing my child to the bank?

Many banks let you open a children's account with just your ID and the child's information. Some prefer to see the child in person but don't require it. Call ahead and ask — if they allow it, you can often complete the account opening online or by phone.

What age can a child have their own account?

Most banks let you open an account for a child of any age, even a newborn. However, you remain the owner until the child turns 18. At that point, some banks automatically convert the account to an adult account; others require you to come in and update the paperwork.

Will opening a children's account hurt my credit?

No. Opening a bank account does not affect your credit score. Banks check your identity and may look at your banking history, but they don't report this to credit bureaus the way a credit card or loan does.

What if I want to close the account later?

You can close a children's account at any time by going to the bank or calling them. They will ask why you're closing it, but you don't need a reason. Any money in the account will be returned to you, usually within a few business days.