Yes, but you'll need a parent or guardian to co-own it
A 15-year-old cannot open a checking account alone. Banks and credit unions require the account holder to be at least 18 years old to sign a contract. What you can do instead is open a joint account with a parent or guardian, where both names appear on the account and both of you can deposit and withdraw money.
Some banks offer accounts specifically designed for teens under 18, marketed as "teen checking" or "student checking" accounts. These work the same way—a parent or guardian must be the co-owner—but they often come with features aimed at younger users, like lower or no monthly fees, spending limits you can set together, and mobile app alerts when money moves.
The parent or guardian will need to bring identification and proof of address to the bank, and you'll need to be present with a valid ID (school ID, state ID, or passport). Some banks let you start the process online, but most require at least one in-person visit to verify your identity.
Key Takeaways
- You must open a joint account with a parent or guardian; you cannot open an account in your name alone until you turn 18.
- Many banks offer teen checking accounts with no monthly fees and spending controls that let you and your parent manage the account together.
- You'll need a valid ID and your parent or guardian will need identification and proof of address to open the account.
- Once the account is open, you can use a debit card, set up direct deposit, and access the account through mobile banking.
What documents you'll need to bring
You'll need a valid photo ID. A school ID works at most banks, though some prefer a state ID or passport. Your parent or guardian will need a government-issued ID (driver's license or passport) and a recent utility bill, lease, or mortgage statement showing their current address.
Bring your Social Security number and your parent's Social Security number. The bank will use these to run a background check through ChexSystems, a system that tracks banking history. This is routine and does not affect your credit score.
If you want to set up direct deposit (for a job or allowance), bring the routing and account number from wherever the money will come from, or you can add it later through the bank's app or website.
How much money you can spend and withdraw
A joint account has no legal limit on how much you can withdraw—you and your parent both own the money in it. However, many teen checking accounts come with optional spending controls that let your parent set daily limits on debit card purchases or ATM withdrawals. These are tools to help you learn to manage money, not restrictions the bank enforces on its own.
If the account has no spending limits set, you can withdraw or spend as much as the account balance allows. Talk with your parent about what limits make sense for your situation before you open the account, because you can change them anytime through the bank's app or by calling customer service.
Some banks also let you set up alerts so your parent gets a text or email whenever you make a purchase over a certain amount, or whenever the balance drops below a threshold. This is optional and you can turn it on or off.
Fees and minimum balance requirements
Most teen checking accounts have no monthly maintenance fee. However, you may be charged for overdrafts (spending more than the balance), ATM withdrawals outside the bank's network, or wire transfers. Read the fee schedule before you open the account—banks are required to give you one, and it's usually available on their website.
Minimum balance requirements vary. Some banks require you to keep $25 or $100 in the account at all times; others have no minimum. If you fall below the minimum, you may be charged a monthly fee or the account may be closed. Ask the bank directly what the minimum is for the specific account type you're opening.
If you're opening the account at a credit union instead of a bank, you may also need to become a member, which sometimes costs $5 to $25 one time. This is separate from the account itself and gives you access to all the credit union's services.
Banks and credit unions that offer teen accounts
Most large national banks offer teen checking accounts: Chase, Bank of America, Wells Fargo, and Citibank all have versions. Credit unions often have teen accounts too, and they typically charge lower fees than banks.
Online banks like Ally, Charles Schwab, and Discover also offer accounts for minors with a parent co-owner, though you'll need to complete the process online or by phone rather than in person. Some online banks have no monthly fees and no minimum balance.
Your best option depends on what matters to you: whether you want a physical branch nearby, whether you want spending controls built in, and what fees the account charges. Call or visit the website of banks near you and ask specifically about their teen account options. The features and fees differ even between branches of the same bank.
What happens when you turn 18
When you turn 18, you have the choice to keep the joint account as-is, convert it to an account in your name alone, or close it and open a new account elsewhere. The bank will not automatically change anything—you'll need to contact them and ask what your options are.
If you convert to an account in your name alone, your parent's name comes off and they lose access. If you keep it joint, your parent can still see the balance and make transactions. Most people convert to a solo account once they turn 18, but there's no requirement to do so.
Any money in the account stays there regardless of what you do with the account structure. The conversion or closure itself does not cost money, though closing the account and opening a new one elsewhere might mean losing a debit card or having to set up direct deposit again.
Building credit as a teen with a checking account
A checking account alone does not build credit. Credit bureaus track credit cards, loans, and payment history—not checking accounts. However, having a checking account is often a first step toward getting a credit card or loan later, because banks like to see that you can manage money responsibly.
Some banks offer teen credit cards (also called secured credit cards) that work alongside a checking account. These require a deposit and report to credit bureaus, so using one responsibly can start building your credit history before you turn 18. Ask your bank whether they offer this option.
For now, focus on using the checking account to learn how to track spending, avoid overdrafts, and keep a budget. Those habits matter more than the account itself when you're building financial responsibility.
Frequently Asked Questions
Can I open a checking account without my parent in the room?
Most banks require at least one in-person visit where you and your parent are both present to verify your identities. Some online banks may let you complete the process remotely with video verification, but you'll still need your parent's consent and involvement. Call ahead to ask what your bank requires.
What if my parent doesn't want to co-own the account?
You cannot open a checking account in your name alone until you turn 18. If your parent is unwilling to co-own, you could ask another guardian, grandparent, or adult relative whether they would be willing to help. Otherwise, you'll need to wait until you turn 18.
Can I use my school ID to open a checking account?
Most banks accept a school ID as long as it has your photo and name. However, some banks prefer a state ID or passport. Call the bank before you go in to confirm they'll take a school ID, or bring a backup ID just in case.
Will opening a checking account hurt my credit?
No. Opening a checking account does not appear on your credit report and does not affect your credit score. The bank may check ChexSystems (a banking history system), but that is separate from credit and does not impact your ability to borrow money later.
Can I have my paycheck deposited into a teen checking account?
Yes. Once the account is open, you can set up direct deposit from your employer. You'll need to give your employer the account's routing number and your account number, which you can find on a check or through the bank's app or website.