Yes, minors can open a checking account in Michigan, but a parent or guardian must be involved
A minor in Michigan can have a checking account, but the account must be opened and managed jointly with a parent or legal guardian. Banks do not open accounts for anyone under 18 without an adult present and responsible for the account. The adult's name appears on the account alongside the minor's, and the adult has full access to the account and its funds.
The specific rules vary slightly between banks — some allow minors as young as 13 to have their own debit card, while others wait until 16. Most Michigan banks offer accounts designed for teens that come with parental controls, spending limits, and monitoring tools. You will need to visit a branch in person; no bank opens a minor's account online without an adult present.
Key Takeaways
- A parent or legal guardian must open the account with the minor and remain on it as a co-owner.
- Most Michigan banks require the minor to be at least 13 years old, though some have different age minimums.
- You must visit a bank branch in person with the minor and valid identification for both of you.
- Teen checking accounts often include parental controls that let the adult monitor spending and set limits on withdrawals.
- The parent or guardian is legally responsible for the account and any overdrafts or fees.
What documents you need to bring to open an account
Bring a valid photo ID for the parent or guardian — a driver's license, passport, or state ID card. Bring a valid ID for the minor as well; this can be a school ID, passport, or state ID. Some banks also ask for proof of address, such as a utility bill or lease in the adult's name.
If the minor does not have a photo ID, ask the bank ahead of time whether a school ID or birth certificate will work instead. Different banks have different policies, and calling ahead saves a trip. You will also need to know your Social Security numbers for both the adult and the minor, as the bank will run a background check through ChexSystems (a banking history database).
How parental controls work on teen accounts
Most Michigan banks that offer teen checking accounts include tools that let the parent monitor and limit spending. These controls typically allow the parent to set a daily withdrawal limit, see all transactions in real time through the bank's app or website, and receive alerts when the minor makes a purchase. Some banks let the parent temporarily freeze the card if it is lost or if spending is getting out of hand.
The parent can usually adjust these limits as the minor gets older and more responsible with money. Some accounts remove restrictions automatically at age 18, while others require the minor to request full independence. Ask the bank what controls come with the account before you open it, since this varies widely.
Fees and minimum balance requirements
Many banks waive monthly fees on teen checking accounts, especially if the account is linked to a parent's account at the same bank. However, some banks charge a small monthly fee — typically $3 to $5 — even for minors. Overdraft fees, ATM fees, and fees for falling below a minimum balance may still explore, so read the fee schedule before opening the account.
Minimum balance requirements also vary. Some banks require $0 to open and maintain a teen account, while others ask for $25 or $100. If the account falls below the minimum, the bank may charge a fee or close the account. Ask about this when you call to confirm what documents to bring.
When the minor turns 18
When the minor reaches 18, the account does not automatically close, but the structure changes. The young adult can request that the parent's name be removed from the account, making it solely theirs. Some banks do this automatically on the 18th birthday, while others require the young adult to visit a branch and request the change.
Until the parent's name is removed, the parent retains legal access to the account and its funds. If the young adult wants full privacy and control, they should ask the bank about the process for removing the co-owner. This is also a good time to review whether the account still fits their needs or whether they want to switch to a different product.
Where to open an account in Michigan
Most major banks operating in Michigan offer teen checking accounts, including Chase, Bank of America, Flagstar Bank, and Mackinac Savings Bank. Credit unions in Michigan, such as those in the CO-OP network, also offer accounts for minors. Each has slightly different age requirements, fees, and features.
Start by visiting the website of a bank or credit union near you and searching for "teen checking" or "minor account". Call the branch to confirm the minimum age, what documents you need, and whether parental controls are included. Some banks let you start the process online but require an in-person visit to complete it.
What happens if the account goes negative
If the minor spends more than is in the account, the account goes into overdraft. The bank will charge an overdraft fee — usually $25 to $35 per transaction — and the parent is responsible for paying back the negative balance. Some banks offer overdraft protection, which links the checking account to a savings account or credit line and automatically transfers money to cover the shortfall, though this may come with a fee.
The parent can prevent overdrafts by setting a daily withdrawal limit through the parental controls or by monitoring the account balance regularly. Many teen accounts decline transactions that would cause an overdraft rather than allowing them and charging a fee, so ask the bank what its overdraft policy is.
Frequently Asked Questions
Can a minor open a checking account without a parent?
No. Michigan banks require a parent or legal guardian to be a co-owner on any account opened for a minor under 18. The adult must be present when the account is opened and must provide identification.
What is the youngest age a minor can open a checking account in Michigan?
Most Michigan banks allow minors as young as 13, but some require 16. Call your bank to confirm its minimum age. Age requirements are set by each bank, not by Michigan law.
Can the parent see all the minor's transactions?
Yes, if the account includes parental controls. The parent can typically view all transactions through the bank's app or website and set up alerts for purchases. However, the parent should discuss privacy expectations with the minor so there are no surprises.
What if the minor loses the debit card?
Contact the bank when ready to report the card lost or stolen. The bank will freeze or cancel the card to prevent unauthorized use. A replacement card usually arrives within 5 to 10 business days. If parental controls are active, the parent can also freeze the card through the app.
Does opening a checking account affect the minor's credit score?
No. Opening a checking account does not build or damage credit because it is not a loan or line of credit. Credit scores are based on borrowing and repayment history, not on deposit accounts.