Key Takeaways
- A minor cannot be the sole account holder; a parent or guardian must be the primary account holder or co-signer on any checking account.
- Most banks require the parent to be present in person to open the account, bring identification for both the parent and the minor, and provide the minor's Social Security number.
- Teen checking accounts offered by major banks typically include a debit card, online access, and parental controls that let the parent set spending limits or review transactions.
- The parent can see all deposits, withdrawals, and transfers, and retains the legal right to close the account or freeze it at any time.
- Some credit unions and online banks have lower minimum balances or no monthly fees for teen accounts, which can make them cheaper than traditional bank options.
What the Bank Requires to Open an Account
To open a checking account for a minor, you will need to bring both the parent and the minor to the bank in person. Some banks allow you to start the process online, but they will require an in-person visit to complete it. Bring a government-issued photo ID for the parent (a driver's license or passport), the minor's birth certificate or passport, and the minor's Social Security number.
The parent will be asked to provide a current address, phone number, and sometimes employment information. The bank will run a background check on the parent through ChexSystems, a banking history database. If the parent has a history of overdrafts, fraud, or other banking problems, the bank may deny the account. The minor's history does not matter because the minor has no banking history yet.
Some banks also require a minimum opening deposit, which ranges from zero to $100 depending on the institution. Online banks and credit unions are more likely to have no minimum. If the account is opened online, the bank will mail a debit card to the address on file, which usually takes five to ten business days.
How Parental Access and Control Work
The parent's name appears on the account as the primary account holder or co-owner. This means the parent has full legal authority over the account and can withdraw money, close it, or freeze it without the minor's permission. The parent can also see every transaction — deposits, withdrawals, transfers, and fees.
Many banks offer parental controls that let the parent set rules without closing the account. These controls might include spending limits per day or per transaction, the ability to turn the debit card on or off, alerts when the balance drops below a certain amount, or restrictions on certain types of transactions (like online purchases or ATM withdrawals). The parent can usually adjust these settings through the bank's mobile app or website.
The minor can use the debit card to make purchases and withdraw cash, but cannot overdraw the account, take out a loan, or open a savings account linked to the checking account without the parent's knowledge. The minor also cannot close the account or change the account settings.
Teen Checking Accounts vs. Joint Accounts
A teen checking account is a product designed specifically for minors, usually ages 13 to 17. It includes a debit card, online banking access, and parental controls. The parent is the primary account holder, but the account is branded as a teen account and may have lower fees or no monthly maintenance charge. Examples include Chase First Banking, Bank of America Teen Checking, and Wells Fargo Teen Checking.
A joint checking account is a standard account opened in both the parent's and the minor's names. Both names appear on the checks and debit card. The parent retains full control, but the account is not designed for teens and may have higher fees. Joint accounts are less common for minors now because banks prefer to offer teen-specific products.
The practical difference is usually in the fee structure and the parental controls. Teen accounts often have no monthly fee, while joint accounts may charge $5 to $15 per month. Teen accounts usually include parental controls built into the mobile app; joint accounts may not. If you are choosing between the two, ask the bank whether the account includes parental controls and what the monthly fee is.
What Happens When the Minor Turns 18
When the minor turns 18, the account does not automatically convert to a solo account. The parent remains the primary account holder and retains full control unless both the parent and the young adult go to the bank and formally remove the parent from the account. Some banks make this process straightforward — a visit to a branch or a phone call — while others require paperwork.
The young adult can request that the parent be removed, but the parent can also refuse. If the parent refuses and the young adult wants their own account, the young adult will need to open a separate account in their own name at a different bank. This is why some families plan ahead: the parent can voluntarily remove themselves from the account on the young adult's 18th birthday, or they can agree to do so when the young adult asks.
If the parent and young adult disagree about the account, the young adult's only option is to open a new account elsewhere. The original account remains in the parent's control unless both parties consent to change it.
Banks and Credit Unions That Offer Teen Accounts
Major national banks that offer teen checking accounts include Chase (First Banking), Bank of America (Teen Checking), Wells Fargo (Teen Checking), and Ally Bank (for ages 13 and up). Each has different fee structures and parental control features. Chase First Banking has no monthly fee and includes parental controls; Bank of America Teen Checking charges $5 per month but includes alerts and spending limits.
Credit unions often have lower fees or no fees for teen accounts. If you belong to a credit union, ask whether they offer a teen account or a youth account. Online banks like Ally and Charles Schwab also offer accounts for minors, sometimes with no monthly fee and no minimum balance.
The best choice depends on whether you want in-person branch access, what parental controls matter most to you, and whether you want to avoid monthly fees. If the minor will need to deposit cash frequently, a bank with physical branches is more convenient than an online-only bank.
What the Minor Can and Cannot Do
With a checking account, the minor can use the debit card to make purchases online and in stores, withdraw cash from ATMs, and deposit checks (at some banks, through mobile deposit). The minor can see their balance and transaction history through the bank's app or website, though the parent can also see everything.
The minor cannot write checks unless the bank issues a checkbook, which most banks do not do for teen accounts. The minor cannot set up automatic bill payments, transfer money to another bank account, or change account settings without the parent's permission. The minor also cannot overdraw the account — if they try to spend more than the balance, the transaction will be declined.
If the minor needs to deposit a check, they can do so through mobile deposit (taking a photo of the check with the bank's app) or by visiting a branch with the parent. Some banks allow the minor to deposit checks alone once they are registered for mobile deposit; others require the parent to be present.
Frequently Asked Questions
Can a minor open a checking account without a parent?
No. A parent or legal guardian must be the primary account holder or co-signer. The minor cannot be the sole account holder at any major bank because minors cannot enter into binding contracts. Some credit unions may have different rules, so it is worth asking your local credit union, but the answer is almost always no.
What age can a minor open a checking account?
Most banks allow minors as young as 13 to open a teen checking account with a parent. Some banks set the age at 15 or 16. A few banks, like Ally, allow accounts for minors as young as 13. Check with your bank or credit union for their specific age requirement.
Will opening a checking account hurt the minor's credit?
No. Opening a checking account does not affect credit because checking accounts are not reported to credit bureaus. Credit is built through loans, credit cards, and payment history. A checking account is straightforward a place to store and spend money.
Can the parent see what the minor spends money on?
Yes. The parent can see every transaction — the merchant name, the amount, and the date. The parent can also set spending limits or turn off the debit card if they want to restrict spending. The minor's privacy is limited because the parent has full account access.
What if the minor loses the debit card?
The parent can call the bank or use the mobile app to freeze or cancel the card when ready. The bank will mail a replacement card, which usually arrives within five to ten business days. The minor can continue to use the account through mobile banking or ATM withdrawals while waiting for the new card.