Yes, you can have a bank account under 18 — but an adult has to open it with you

Most banks let you open an account before you turn 18, but you cannot do it alone. A parent, guardian, or sometimes another adult has to be on the account with you. The adult's name appears on the account, they receive statements, and they can see what you spend. Some banks call this a "youth account" or "teen account," but the setup is the same across most places: you need an adult co-owner.

The reason is legal. Until you turn 18, you are a minor, and banks treat accounts for minors differently than accounts for adults. The adult co-owner is responsible for the account and can make decisions about it. Once you turn 18, you can usually convert the account to your name alone, or open a separate account that belongs only to you.

Key Takeaways

  • You need a parent, guardian, or another adult to open a bank account with you before age 18.
  • The adult co-owner will be listed on the account and can see all transactions and balances.
  • Most banks require the adult to come in person with you, along with identification and proof of address.
  • When you turn 18, you can remove the adult from the account or open a new account in your name alone.
  • Some banks offer accounts designed for teens with features like spending limits or parental controls.

What documents you and the adult need to bring

Both you and the adult will need to show identification. For you, this is usually a school ID, state ID, or passport — something with your photo and name. The adult needs a government-issued ID like a driver's license or passport.

The bank will also ask for proof of address. This can be a utility bill, lease, mortgage statement, or government mail addressed to the adult. Some banks accept a school ID or report card for you if you do not have your own proof of address yet. Call the bank before you go in and ask what they accept, because the rules vary by bank and by state.

Bring your Social Security number or Individual Taxpayer Identification Number (ITIN). If you do not have one, the bank can tell you how to get one, but it will delay opening the account.

How the account works once it is open

The account belongs to both of you legally, but you can use it like your own. You get a debit card, you can make deposits and withdrawals, and you can check your balance online or on your phone. The adult co-owner can also do all of these things.

The adult will receive paper statements or can see the account online. They will know every purchase you make with the debit card and every withdrawal. Some teen accounts come with parental controls — features that let the adult set daily spending limits, block certain types of purchases, or get alerts when you spend money. Not all banks offer these, so ask when you are opening the account if they matter to you.

You cannot overdraw the account (spend more than you have) unless the bank offers overdraft protection, which most teen accounts do not. If you try to spend more than your balance, the transaction will be declined.

What happens when you turn 18

On your 18th birthday, you become a legal adult. You can now own an account by yourself. Most banks let you convert your teen account to a regular adult account by going to a branch or doing it online. The adult co-owner's name comes off, and the account becomes yours alone.

Some people prefer to open a completely new account instead. This is fine too — you can close the old account and move your money to the new one. Either way, once you are 18, you have full control and the adult no longer has access.

Banks that offer teen accounts

Many large banks have teen accounts: Chase, Bank of America, Wells Fargo, and Citibank all offer them. Credit unions often have them too, and sometimes with lower fees. Online banks like Ally and Chime have youth accounts, though the rules for opening them vary.

The features and fees differ. Some charge no monthly fee for teens; others charge a small fee. Some include parental controls; others do not. Some let you earn interest on your balance; others do not. Before you open an account, compare a few banks and ask about their teen account features. The bank's website usually lists them, or you can call and ask.

If the adult co-owner is not your parent

You do not have to use a parent. A grandparent, older sibling, aunt, uncle, or trusted adult can be the co-owner. The bank will ask for their ID and proof of address, the same as they would for a parent. The adult will still have full access to the account and will see all transactions.

If you choose someone other than a parent, make sure it is someone you trust completely. They can withdraw money, close the account, or make changes without asking you. The bank treats them as an equal owner, not as a helper or guardian.

What to do if a bank says no

A few banks have age limits below 18 — some require you to be at least 13, others 16. If your first choice bank says you are too young, try another one. Credit unions are often more flexible than large banks, and online banks sometimes have different rules.

If no bank in your area will open an account for you, a credit union might. Credit unions are member-owned financial institutions that sometimes have looser age rules. You can search for credit unions near you at CO-OP.org or Alliant Credit Union's website.

Frequently Asked Questions

Can I open a bank account without telling my parents?

No. You need an adult to open the account with you, and they will receive statements and see all activity. If you want privacy from your parents, you could ask another trusted adult to be the co-owner instead, but the bank will not hide the account from them.

What if the adult co-owner takes money out without asking me?

Legally, they can — the account belongs to both of you equally. This is why it matters who you choose as co-owner. If this happens and you are concerned, talk to the adult first. If you are being harmed or the money is being taken without permission and you are unsafe, tell a school counselor or trusted adult.

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

Most banks require one, but some will accept an ITIN if you do not have a Social Security number yet. Call the bank and ask before you go in. Getting a Social Security number takes a few weeks, so if you do not have one, start that process early.

Can I have my own account without an adult once I turn 18?

Yes. Once you turn 18, you can convert your teen account to an adult account in your name alone, or open a new account by yourself. You will need your ID, proof of address, and Social Security number, but no co-owner is required.

What if I want to remove the adult before I turn 18?

Most banks will not let you remove a co-owner before you turn 18. You would have to close the account and open a new one, but you cannot do that alone — you would need another adult to co-own the new account. Talk to the bank about your options.