A minor can open a bank account, but not alone

A minor—someone under 18 in most states—cannot walk into a bank and open an account by themselves. Banks require a parent or legal guardian to be present and to co-own the account. The account will be registered in both names, and the adult retains full control until the minor reaches the age of majority, usually 18.

The specific rules vary by bank and by state. Some banks allow minors as young as 13 to have their own debit card on a custodial account. Others require the minor to be 16. A few banks have no minimum age and will open accounts for children of any age, as long as a parent or guardian is present. The account type matters too: a savings account has different requirements than a checking account with a debit card.

What does not vary is the requirement for an adult. No bank will open an account for a minor without a parent, legal guardian, or in rare cases, a court-appointed conservator present at the time of opening.

Key Takeaways

  • A parent or legal guardian must be present and co-own the account; minors cannot open accounts alone.
  • Most banks allow minors to have debit cards and make withdrawals, but the adult on the account can see all transactions and freeze the account at any time.
  • Minimum age requirements range from birth to 16 depending on the bank, so you may need to call ahead to find one that accepts your child's age.
  • The account converts to a standard adult account automatically when the minor turns 18, though some banks require a visit to remove the parent's name.

What documents you need to bring

To open a custodial account, bring a government-issued photo ID for the adult—a driver's license or passport. You will also need proof of the minor's identity. A birth certificate, school ID, or state ID card works. Some banks accept a Social Security card as secondary proof.

Bring proof of address for the adult: a recent utility bill, lease, or bank statement with the current address. The bank will ask for the minor's Social Security number. If the minor does not have one, you can still open the account in most cases, but the bank will ask you to provide it within 30 days.

A few banks ask for additional documents if the adult is not the biological parent—for example, adoption papers or a court order naming someone as legal guardian. Call the bank before you go to confirm what they need.

How the account works while the minor is under 18

The account is held in both names: "Parent Name, as custodian for Minor Name." The parent has full legal control. The parent can deposit money, withdraw money, freeze the account, or close it without the minor's permission. The minor can make deposits and withdrawals if they have a debit card, but the parent receives statements and can see every transaction.

Some banks allow the minor to set up online banking access so they can check their balance and see their own transactions. Others do not. The parent's online access always shows the full account activity. The parent is also responsible for any overdraft fees or account maintenance fees.

The minor's money is legally the minor's money—the parent cannot take it for personal use. But the parent can control how it is spent and can prevent withdrawals. This is the legal purpose of a custodial account: to let a minor have access to money while an adult maintains oversight.

What happens when the minor turns 18

The account automatically converts to a standard individual account in the minor's name alone. The parent's name is removed, and the parent loses access to the account and its statements. The minor now has full control and the parent cannot see transactions or freeze the account.

Some banks require the now-18-year-old to visit a branch in person to complete the conversion. Others do it automatically and send a new debit card and statements to the address on file. A few banks ask the parent to sign a form releasing their interest in the account. Check with your bank about their specific process.

If the minor does not want the parent's name removed, they can ask the bank to keep the account as a joint account instead. This is rare, but some young adults do this to maintain shared oversight with a parent. The bank will ask both parties to agree in writing.

Banks with low or no minimum age requirements

Most large national banks—Chase, Bank of America, Wells Fargo, Citibank—allow minors as young as 13 to open a custodial checking account with a debit card. Some regional banks and credit unions have different rules. A few, like Ally Bank, do not offer custodial accounts at all and require the minor to be 18.

Online banks often have stricter rules because they cannot verify identity in person. Some require the minor to be 16 or older. Others ask the parent to verify the minor's identity through a video call or by uploading a photo of their ID.

Credit unions sometimes allow younger minors—some accept children as young as infancy if a parent opens a savings account in the child's name. But credit union rules are set by each individual institution, so you will need to contact your local credit union directly. Call ahead before you visit; do not assume your bank's rules match another bank's.

Custodial accounts versus joint accounts

A custodial account is registered as "Parent, as custodian for Minor." The parent has legal control until the minor turns 18, at which point the account automatically converts to the minor's sole name. The parent's role ends.

A joint account is registered in both names equally. Both parties can withdraw money and close the account. Both names appear on statements and debit cards. A joint account does not automatically change when the minor turns 18; both parties remain owners unless they agree to change it. Joint accounts are less common for minors because they give the minor too much control—a minor could drain the account or close it without the parent's knowledge.

Most banks call their minor accounts "custodial" even if the paperwork says something slightly different. Ask the bank directly which type you are opening. For most families, custodial is the right choice.

Why a minor might need their own account

A minor with their own account can deposit allowance, earnings from a job, or money from relatives. They can learn to manage money, see how interest accrues in a savings account, and practice using a debit card before they turn 18. Some employers require a bank account to deposit paychecks, so a teenager with a job may need one.

A custodial account also protects the minor's money. Money in a minor's name is legally separate from the parent's assets. If the parent faces financial trouble, creditors cannot seize money in a custodial account. The account is also protected if the parent dies; the money passes to the minor, not into the parent's estate.

For teenagers saving for college or a car, a dedicated account makes it easier to track progress toward a goal. Some banks offer higher interest rates on savings accounts for minors, though the difference is usually small.

Frequently Asked Questions

Can a minor open an account without a parent present?

No. Every bank requires a parent, legal guardian, or court-appointed conservator to be physically present or to authorize the account in writing. Some banks allow the parent to authorize online, but the parent must still verify their identity and sign documents. A minor alone cannot open any type of bank account.

What if the minor's parents are divorced?

Either parent can open a custodial account for the minor. The parent who opens it becomes the custodian. If both parents want access, they can open a joint account instead, though this is uncommon. If there is a custody order that restricts one parent's access to the minor's finances, bring a copy of that order to the bank; the bank will note it in the account file.

Can a minor have their own account without a parent's name on it?

Not until they turn 18. Anyone under 18 must have an adult co-owner. Some banks offer "teen accounts" that look independent but are legally custodial—the parent's name is on the account even if it does not appear on the debit card.

Do minors need a Social Security number to open an account?

Most banks require it, but some will open the account and ask you to provide the number within 30 days. If the minor does not have a Social Security number, you can request one from the Social Security Administration before you visit the bank, or ask the bank if they will open the account pending receipt of the number.

What happens if the parent dies?

The account belongs to the minor and passes to them. The bank will remove the deceased parent's name from the account. If the minor is very young, a court-appointed guardian may need to take over custodial authority, but the money itself is the minor's. Contact the bank with a death certificate to begin the process.