Yes, you can have a bank account before you turn 18

Most banks and credit unions let you open an account while you are still a minor. The account usually comes with restrictions — your parent or guardian has to co-sign, they can see all transactions, and they control whether you can withdraw money. But the account is real. Money you deposit stays there. You get a debit card. You build a record with the bank.

The exact rules depend on the bank and your age. Some banks let you open an account at any age if a parent is on it. Others have a minimum age — often 13 or 16 — before they will issue a debit card or let you use online banking. A few banks offer teen-specific accounts with built-in limits on spending or transfers.

The main reason to open an account now is to start building a banking history. Banks look at how long you have had an account and how you use it. If you have been responsible with money for two or three years before you turn 18, you will have an easier time opening your own account, getting a credit card, or borrowing money later.

Key Takeaways

  • Most banks require a parent or guardian to co-sign a minor's account, and the parent can see all activity and control withdrawals.
  • Some banks set a minimum age — often 13 or 16 — before they will issue a debit card or allow online banking access.
  • A minor's account builds a banking history that makes it easier to open your own account and borrow money after you turn 18.
  • Teen-specific accounts from some banks come with spending limits or transfer caps that you and your parent can adjust together.
  • You will need a Social Security number and proof of identity, and your parent will need to bring their ID and proof of address.

What your parent has to do to open the account

Your parent or legal guardian has to be present at the bank or credit union. They will need to bring a government-issued ID (driver's license, passport, or state ID), proof of their current address (a utility bill or lease), and your Social Security number. Some banks also ask for your birth certificate or school ID.

The parent becomes the account owner. You are listed as an authorized user or joint account holder, depending on the bank's language. This means the parent can close the account, change the rules, or freeze it at any time. They see every deposit and withdrawal. They receive statements. If the account goes negative, the bank contacts them.

The parent does not have to put money in the account to open it. Many accounts start with zero balance. You can deposit your own money — from a job, allowance, or gifts — as soon as the account is open.

What happens when you turn 18

At 18, you become a legal adult. You can open your own account without a parent's permission. But the account you have now does not automatically convert to an adult account. You have two choices: keep the joint account with your parent still on it, or open a new account in your name alone and transfer the money.

Most people keep the original account open because closing it would end your banking history with that bank. The parent can stay on the account, or you can ask the bank to remove them. If they stay on it, they can still see transactions and withdraw money unless you change the account rules. If you remove them, the account becomes yours alone.

Some banks automatically remove the parent when you turn 18. Others require you to visit in person or call to make the change. Check with your bank about their specific process a few weeks before your birthday so you are not surprised.

Types of accounts available to minors

A basic savings account is the simplest option. You deposit money, it sits there, and you can withdraw it. The bank pays you a small amount of interest — usually less than 0.1 percent per year, though some online banks pay more. Your parent controls whether you can make withdrawals.

A checking account comes with a debit card and usually a checkbook. You can spend the money more easily, but your parent still sees every transaction. Some banks charge a monthly fee for checking accounts, though many waive the fee for minors or accounts with direct deposit.

A teen account is a checking or savings account designed specifically for people under 18. Banks like Greenlight, GoHenry, and Fidelity offer these. They usually come with a debit card, spending limits that you and your parent can set together, and tools to help you learn about money. Some charge a monthly fee ($5 to $15), and some are free. The parent still has full visibility and control.

A custodial account is different — it is a savings or investment account held in your name but controlled by your parent until you turn 18 or 21 (depending on state law). These are less common for everyday banking and more often used for long-term savings or gifts from relatives.

What you can and cannot do with a minor's account

You can deposit money into the account — from a job, allowance, birthday gifts, or your own savings. You can use the debit card to buy things at stores or online, if your parent has given you permission and the card is activated. You can check your balance online or at an ATM. You can move money between your savings and checking if the account has both.

You cannot open the account without a parent. You cannot close the account without a parent's permission. You cannot remove your parent from the account. You cannot set up automatic transfers or bill payments without your parent's approval — and some banks do not let minors do this at all. You cannot overdraft the account (spend more than you have) unless your parent has specifically allowed it, which is rare.

If you want to do something with the account that your parent has not approved, you have to ask them. The bank will not let you around this. The parent's permission is built into the account structure.

How to choose a bank or credit union

Start by asking your parent which bank they use. Many families open a minor's account at the same bank where the parent already has an account. This makes it easier to transfer money between accounts and for the parent to monitor spending.

If you want to compare options, look at these things: Does the bank have a physical branch near you, or is it online only? Does it charge a monthly fee for a minor's account? What is the minimum balance required to avoid fees? Does it offer a debit card, and at what age? Does it pay interest on savings? Can you set up spending limits?

Credit unions often have lower fees and higher interest rates than big banks, but they may have fewer branches and ATMs. Online banks usually have no monthly fees and higher interest rates, but you cannot walk into a branch if you need help. A local bank or credit union is often the easiest choice because your parent can go in person to open the account.

Documents you will need to bring

Bring your Social Security number (or a document with it on it, like a birth certificate). Bring a form of ID if you have one — a school ID, passport, or state ID. Your parent will bring their government-issued ID and a recent bill or lease showing their current address.

Some banks ask for additional documents: a birth certificate, proof of your relationship to the parent (if the parent's last name is different from yours), or a second form of ID. Call the bank or credit union before you go in to ask what they need. This saves a trip.

If you are opening the account online instead of in person, the bank will ask you to upload photos of these documents or verify your identity through a video call. The process usually takes a few minutes.

Frequently Asked Questions

Can I open a bank account without my parent knowing?

No. A parent or legal guardian has to be present and sign documents to open an account for a minor. The bank requires this by law. If you are in a situation where you cannot ask your parent, talk to a school counselor or trusted adult about other options.

What if my parent and I disagree about spending limits?

The parent controls the account, so they have the final say. You can ask them to raise a spending limit or remove a restriction, and they can say yes or no. If you turn 18, you can open your own account and move your money there. Until then, the account works the way your parent sets it up.

Will opening a bank account hurt my credit score?

No. Opening a checking or savings account does not affect your credit score. Credit scores are based on borrowing and repaying money — loans, credit cards, and payment history. A bank account is separate. You can have a bank account for years without building any credit history.

Can I have a bank account if I do not have a Social Security number?

Most banks require a Social Security number to open an account. Some banks and credit unions will open an account with an ITIN (Individual Taxpayer Identification Number) instead, but this is less common. Call ahead and ask before you go in.

What happens if the account goes negative?

If you spend more than you have, the bank will contact your parent. They may charge an overdraft fee (usually $25 to $35). Most banks do not let minor accounts go negative in the first place — the debit card straightforward declines if you do not have enough money. Your parent can turn on overdraft protection if they choose to, but most do not.