A minor cannot open a bank account alone, but can open a joint account with a parent or guardian present

A joint account requires two account holders, and banks will let a minor be one of them as long as the other is a parent, legal guardian, or sometimes a grandparent. The adult on the account has full access to the money and can withdraw, deposit, or close the account without the minor's permission. The minor can also use the account, but the adult's authority is absolute—this is how banks protect themselves legally when minors are involved.

The adult does not need to be the minor's biological parent. Legal guardians, grandparents, and in some cases aunts or uncles can open a joint account with a minor, depending on the bank's rules. You will need to bring proof of the relationship and identification for both people at the account opening.

A joint account is different from a custodial account. In a custodial account, the adult controls the money until the minor reaches the age of majority (usually 18 or 21, depending on your state), at which point the account automatically transfers to the minor's sole control. A joint account has no such transfer—it stays joint unless both people agree to change it.

Key Takeaways

  • A minor needs an adult (parent, guardian, or sometimes grandparent) to open a joint account; the bank will not open an account for a minor alone.
  • The adult on a joint account has full legal control and can withdraw all the money or close the account without the minor's consent.
  • Both people must be present at the bank with valid identification, and the bank will verify the relationship between them.
  • Custodial accounts and joint accounts work differently—custodial accounts transfer to the minor at age 18 or 21, while joint accounts remain joint unless changed.
  • Different banks have different rules about who can be the adult on the account; some accept grandparents or guardians, while others require a parent.

What you need to bring to open a joint account

Both the minor and the adult must be present in person at the bank branch. Bring a government-issued photo ID for the adult—a driver's license or passport. For the minor, a school ID, state ID, or passport works, though some banks accept a birth certificate if the minor does not have photo ID yet.

You will also need proof of the relationship. If the adult is a parent, a birth certificate showing both names is standard. If the adult is a legal guardian, bring the guardianship papers. If it is a grandparent or other relative, some banks ask for a birth certificate showing the connection, while others accept a signed statement from a parent confirming the relationship. Call the bank before you go to ask what they accept.

Bring a Social Security number for both people. The bank will run a background check through ChexSystems (a banking history database) to see if either person has had problems with a previous account. This is routine and does not prevent you from opening an account in most cases.

How the account works once it is open

Both the minor and the adult can deposit money, withdraw money, and see the balance. The bank will issue a debit card to each person if they request one. Either person can use the card to spend from the account. Either person can also close the account or change the account settings.

The adult's control is complete. If the adult withdraws all the money, the minor has no legal recourse through the bank. If the adult closes the account, it closes. This is why a joint account works best when there is trust between both people and a clear agreement about how the money will be used.

The account will report to both people's credit reports if the bank reports account activity to the credit bureaus. Most banks do not report checking or savings accounts to credit bureaus, so this usually does not affect either person's credit score. However, if the account goes negative or is sent to collections, it can appear on both credit reports.

When a joint account makes sense for a minor

A joint account is useful when a parent wants to teach a minor about money while keeping oversight. The minor can see how deposits and withdrawals work, practice budgeting, and learn to use a debit card. The parent can monitor spending and step in if needed.

A joint account also works when a minor needs access to money for everyday expenses—lunch, transportation, school supplies—and the parent wants to fund it without handing over cash. The parent can deposit an allowance or paycheck and the minor can withdraw as needed.

A joint account is less suitable if the goal is to save money for the minor's future without parental access. In that case, a custodial account is better because the money is legally the minor's once they reach adulthood, and the adult cannot withdraw it for their own use.

Custodial accounts as an alternative

A custodial account (also called an UGMA or UTMA account, depending on your state) is opened in the minor's name, with an adult as the custodian. The adult manages the account until the minor reaches the age of majority—18 in most states, 21 in a few. At that point, the account automatically becomes the minor's sole property.

The adult can use the money in a custodial account only for the minor's benefit—education, medical care, living expenses. The adult cannot withdraw money for their own use. This makes a custodial account better for saving toward a goal like college or a car.

Not all banks offer custodial accounts, and those that do may have higher minimum balances or monthly fees. Ask your bank whether they offer UGMA or UTMA accounts before you decide between a joint account and a custodial account.

Age limits and what happens at 18

Most banks allow minors as young as 13 to be on a joint account, though some require 16. A few banks have no age minimum and will let a parent open a joint account for an infant, though this is rare. Call your bank to ask what age they require.

When the minor turns 18, the account does not automatically change. It stays a joint account unless both people agree to remove one person or convert it to a single-name account. Many young adults keep the joint account with a parent for a few more years, especially if they are in college or just starting work. Others ask the parent to come to the bank and remove themselves from the account once the young adult is ready for full independence.

If the adult wants to remove themselves from the account after the minor turns 18, both people must go to the bank together. The bank will not remove one person without the other's consent. If the relationship has broken down and the two people cannot agree, the account can be closed and the money split, but this requires both signatures.

Banks that allow minors on joint accounts

Most major banks and credit unions allow minors on joint accounts. Chase, Bank of America, Wells Fargo, and Citibank all offer joint accounts for minors, though their specific rules about age and who can be the adult vary. Credit unions often have more flexible rules and may accept a wider range of adults (grandparents, aunts, uncles) than large national banks.

Online banks like Ally, Charles Schwab, and Discover have different policies. Some do not allow joint accounts at all. Others allow them but require both people to open the account online, which can be difficult if one person does not have the required documents or internet access. Call or check the bank's website before you go in.

If you are turned down at one bank, try another. There is no national rule that prevents a minor from having a joint account, so a different bank may accept you even if your first choice does not.

Frequently Asked Questions

Can a minor open a joint account without a parent present?

No. The bank requires both account holders to be present in person with valid identification. A minor cannot open any account—joint or otherwise—without an adult present. Some banks may allow the adult to come in separately to sign documents, but the minor must be there for at least part of the process.

What if the adult on the joint account takes all the money?

The bank will not stop them. A joint account means both people have equal legal rights to all the money. If the adult withdraws everything, the minor's only recourse is through a civil court or family law, not through the bank. This is why a joint account should only be opened with someone you trust completely.

Does a joint account affect the minor's credit score?

Usually not. Most banks do not report checking or savings accounts to credit bureaus, so a joint account will not show up on a credit report. However, if the account goes overdrawn and is sent to collections, it can appear on both people's credit reports and damage both scores.

Can a minor have their own account instead of a joint account?

Not at most banks. Minors cannot open accounts in their name alone. Some banks offer teen checking accounts that are technically in the minor's name but require a parent to co-sign or be listed as a custodian. These work similarly to joint accounts but may have restrictions on spending or withdrawal limits.

What happens to a joint account if the adult dies?

The account does not automatically close. The money stays in the account, and the minor can still access it if they have a debit card. However, if the account needs to be closed or the money needs to be moved, the minor may need to work with the bank and possibly a lawyer to prove they have the right to do so. This depends on the bank's rules and local law.