Yes, but a parent or guardian must be involved

A minor cannot open a bank account alone. Every bank requires a parent or legal guardian to sign the paperwork and be listed on the account. The adult becomes the account owner alongside the minor, or in some cases, the sole owner with the minor as an authorized user. This is true whether you are 5 years old or 17.

The reason is legal: minors cannot sign binding contracts, and a bank account is a contract. The bank needs an adult who can be held responsible if something goes wrong — if the account goes negative, if there is fraud, or if the account is closed.

What changes as you get older is what type of account you can have and what you can do with it. A 7-year-old and a 16-year-old both need a parent to open an account, but they may have different rules about who can withdraw money and whether they can use a debit card.

Key Takeaways

  • A parent or legal guardian must be present and sign paperwork to open any account for a minor.
  • Most banks offer youth or teen accounts with lower fees and spending limits designed for younger users.
  • You will need a Social Security number, proof of identity for the parent, and proof of address for the household.
  • Some banks allow minors to manage accounts online or through an app once the account is open, even if the parent opened it.
  • At age 18, you can open your own account without a parent, though some banks may still require a co-signer if you have no credit history.

What documents you need to bring

Bring the minor's Social Security number or Individual Taxpayer Identification Number (ITIN). The bank will ask for this even if you do not have a card yet. If you do not have the number, you can request one from the Social Security Administration before you go to the bank, though some banks can help you explore on the spot.

The parent or guardian needs a government-issued photo ID — a driver's license, passport, or state ID card. The bank will also ask for proof that you live at the address you give them. This can be a utility bill, lease, mortgage statement, or recent bank statement in the parent's name. The document usually needs to be dated within the last 60 days, though this varies by bank.

If you are opening the account in person at a branch, bring these documents with you. If you are opening it online, you will upload photos of the documents or answer questions about them. Some banks let you start online and finish in a branch if you prefer.

Types of accounts available for minors

Most banks offer a youth savings account or teen checking account designed specifically for minors. These accounts usually have no monthly fee, no minimum balance requirement, and limited features. You might not be able to write checks, for example, or you might have a limit on how many times per month you can withdraw money.

A youth savings account is usually for younger children and focuses on saving rather than spending. The parent controls the account, and the child can see the balance but may not be able to withdraw money without asking the parent.

A teen checking account is typically for ages 13 and up and comes with a debit card. The teen can use the card to buy things and withdraw cash, but the parent can set spending limits and see all transactions. Some banks let the parent turn off certain types of spending — online purchases, for example, or ATM withdrawals — until the teen is older.

A regular adult checking account can also be opened for a minor, but it will not have the same protections or spending limits. Most families choose a youth or teen account instead because the built-in limits help teach money management.

What happens when you turn 18

At age 18, you become a legal adult and can open your own account without a parent. However, the account you opened as a minor does not automatically change. You will need to decide whether to keep it as is, convert it to an adult account, or open a new account elsewhere.

If you keep the account, the parent's name may stay on it unless you both go to the bank and remove them. Some banks do this automatically when you turn 18; others require you to ask. Check with your bank about their policy.

If you want to open a new account at 18, you can do so with just your ID and Social Security number. You will not need a parent to sign anything. However, if you have never had credit or a banking history, some banks may ask you to start with a basic account or bring a co-signer anyway — this varies by bank and by your situation.

Where to open an account

You can open an account at a traditional bank, a credit union, or an online bank. Traditional banks have physical branches where you can walk in with your parent and open an account in person. Credit unions are member-owned financial institutions that often offer youth accounts with low fees. Online banks usually have no branches but let you open accounts entirely through a website or app.

Each type has trade-offs. A branch bank is good if you want to talk to someone in person and deposit cash easily. A credit union often has lower fees and may offer better rates on savings. An online bank usually has no monthly fees and higher interest rates on savings, but you cannot deposit cash at a branch — you have to mail checks or transfer money from another account.

Ask your parent which bank they use or which one they prefer. Many families choose to open a youth account at the same bank where the parent already has an account, because it is easier to manage and monitor.

How to protect the account once it is open

Once the account is open, set up online access so you can check your balance and see transactions. Most banks let you create a username and password separate from your parent's, so you can log in without them seeing your password. This teaches you to manage money while still letting your parent monitor the account if they choose.

If the account comes with a debit card, treat it like cash. Do not share the card number or PIN with friends. If the card is lost or stolen, call the bank right away — they can cancel it and send a new one. If someone uses the card without permission, report it to the bank as soon as you notice. Banks have fraud protection, and you are usually not responsible for unauthorized charges if you report them quickly.

Keep your Social Security number private. Do not write it on checks or give it to anyone except the bank. If you receive a statement by mail, keep it somewhere safe or ask your parent to help you shred it when you are done reading it.

Frequently Asked Questions

Can I open a bank account without my parent knowing?

No. A parent or legal guardian must be present and sign the paperwork. The bank will not open an account for a minor without an adult. If you are in a situation where you do not feel safe telling your parent, talk to a school counselor, trusted teacher, or local youth services — they can help you figure out what to do.

What if my parents are divorced — do both parents need to sign?

Only one parent or legal guardian needs to sign. If one parent has sole custody, only that parent needs to be there. If custody is shared, either parent can open the account, though some banks ask which parent will be the primary account holder. If you are unsure about custody, bring the custody paperwork with you so the bank can see who has the authority to make financial decisions.

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

You can open an account with an ITIN (Individual Taxpayer Identification Number) instead. If you do not have either, you can request a Social Security number from the Social Security Administration, or ask the bank if they can help you explore. Some banks can start the process while you are there.

Will opening a bank account affect my credit score?

No. Opening a checking or savings account does not build or hurt your credit score. Credit scores are based on borrowing and repaying money — loans, credit cards, and similar products. A bank account is just a place to store money, so it does not appear on your credit report.

Can I use a bank account to receive money from a job?

Yes. Once your account is open, you can give your employer your account number and routing number so they can deposit your paycheck directly. This is called direct deposit. It is faster and safer than getting a paper check, and the money appears in your account automatically on payday.