Yes, a 13-year-old can open a checking account, but it requires a parent or guardian

A 13-year-old cannot open a checking account alone. Banks have legal rules that require someone under 18 to have a parent or guardian on the account with them. This is called a custodial account or minor account. The adult is responsible for the account and can see all the activity, but the teenager can use the debit card and make deposits and withdrawals.

The specific rules vary by bank. Some banks let the teen manage the account almost independently once they turn a certain age (often 16 or 17), while others keep the parent involved until age 18. A few banks have accounts designed specifically for teenagers that include parental controls and spending limits.

Key Takeaways

  • A parent or guardian must open the account with the 13-year-old and remain on it until the teen turns 18.
  • Most banks offer teen checking accounts with debit cards, and many include parental controls to set spending limits.
  • You will need to bring the teen's Social Security number, proof of identity (like a birth certificate or school ID), and the parent's ID and proof of address to the bank.
  • Some banks let the teen take over the account independently at age 16 or 17, while others require the parent to stay until 18.

What documents you need to bring

When you and your teenager go to the bank, bring the teen's Social Security number and a form of ID. A birth certificate, school ID, or state ID card all work. The parent or guardian will need a government-issued photo ID (like a driver's license or passport) and proof of address, which can be a recent utility bill, lease, or bank statement.

Some banks also ask for a second form of ID or proof of address. Call the bank ahead of time to ask what they specifically need — this saves a trip back home if you forget something.

How parental controls work on teen accounts

Many banks let the parent set limits on what the teenager can spend. You might set a daily limit on debit card purchases, restrict withdrawals, or block certain types of transactions. Some accounts let you turn the debit card on and off from your phone.

The parent can usually see every transaction the teen makes, either through the bank's app or website. This transparency helps teach the teenager about money while keeping the parent informed. Not all banks offer these controls, so ask about them when you visit or call.

When the teen can take over the account

The age at which a teenager can manage the account without the parent varies. Some banks allow this at 16, others at 17, and some require the parent to stay on until the teen turns 18. A few banks let the teen open a separate independent account at 16 or 17 while keeping the original account open.

Ask the bank what happens as your teenager gets older. Understanding the timeline helps you plan when to transition responsibility and when the parent's name will come off the account.

Banks and credit unions that offer teen accounts

Most major banks offer some form of teen checking account. Chase, Bank of America, Wells Fargo, and Citibank all have options. Many credit unions also offer teen accounts, and credit unions sometimes have fewer fees and more flexibility than large banks.

Online banks like Ally and Chime also offer accounts for minors, though the process may be entirely digital. Local and regional banks often have teen accounts too. The features, fees, and parental controls differ, so compare a few options before deciding.

Fees and costs to watch for

Many teen checking accounts have no monthly fee, especially if the parent keeps a certain balance or has direct deposit set up. However, some banks charge a small monthly maintenance fee — usually between $5 and $15. Overdraft fees (charged when the account goes negative) can range widely, so ask about this.

Debit card replacement fees, ATM fees outside the bank's network, and fees for paper statements also vary. Some banks waive these for teen accounts. Ask for a fee schedule before opening the account so there are no surprises later.

Frequently Asked Questions

Can a 13-year-old use the debit card without the parent present?

Yes. Once the account is open, the teenager can use the debit card to make purchases and withdraw cash at ATMs without the parent there. The parent can monitor the activity and set spending limits, but the teen can use the card independently in most cases.

What happens to the account when the teenager turns 18?

This depends on the bank. Some automatically convert the account to a standard adult account and remove the parent's name. Others require you to visit the bank or call to make the change. A few let the teen open a new independent account at 18 while closing the custodial one. Ask your bank what the process is.

Can the parent close the account without the teenager's permission?

Yes, because the parent is the account owner. However, this can damage trust. A better approach is to talk with your teenager about why you might close it and what would happen to the money in it. Most teen accounts are designed to teach financial responsibility, so involving the teen in decisions helps that goal.

Do teen checking accounts build credit?

No. Checking accounts do not appear on a credit report, so opening one does not help or hurt the teenager's credit score. Credit is built through credit cards, loans, or other credit products. A checking account is a good first step toward financial independence, but it is separate from credit history.

What if the teenager loses the debit card?

Call the bank when ready to report it lost or stolen. The bank will cancel that card and issue a new one, usually within a few business days. Most banks do not charge a fee for the first replacement. Until the new card arrives, the teenager can still withdraw cash at the bank's ATMs or visit a branch.