Yes, you can open a bank account under 18 — but the rules depend on your age and the bank

Most banks let you open an account before you turn 18, but not alone. You will need a parent or legal guardian to co-sign or co-own the account with you. The exact process and age limits vary by bank. Some banks let you open an account at any age if an adult is present; others have a minimum age of 13 or 16. A few banks offer accounts designed specifically for teenagers that you can manage yourself once you reach a certain age, usually 16 or 17.

The account type matters. A custodial account or joint account is what most banks offer minors. Your parent or guardian has full access and control until you reach the age of majority (18 in most states). Once you turn 18, the account may convert to a standard account in your name alone, or you may need to open a new one — this depends on the bank's policy.

Key Takeaways

  • You will need a parent or legal guardian present to open an account before age 18; banks do not open accounts for minors without an adult co-signer.
  • Minimum age requirements vary by bank, ranging from birth to age 13 or 16, so call ahead to confirm whether your bank accepts your age.
  • Custodial and joint accounts give your parent or guardian full control and visibility into the account until you turn 18.
  • Some banks offer teen accounts that let you manage the account yourself starting at age 16 or 17, with parental oversight that decreases over time.
  • When you turn 18, the account may automatically convert to your name alone, or you may need to sign new paperwork — ask the bank what happens.

What you need to bring to open an account

Bring your parent or guardian and two forms of identification. You will need a government-issued ID (passport, state ID, or driver's license) and one additional form of ID, which can be a school ID, birth certificate, or utility bill in your name. Your parent or guardian will also need to show ID.

Some banks ask for a Social Security number. If you do not have one, you can still open an account at many banks, but the process may take longer because the bank will need to file additional paperwork with the IRS. Ask the bank whether they can open an account without a Social Security number before you go in.

Bring any existing account numbers if you are moving money from another bank. You do not need to bring cash or a minimum deposit to open most teen accounts, though some banks require a small opening deposit (typically $25 to $100).

How age affects what you can do with the account

Under age 18, your parent or guardian can see all transactions, withdraw money, and make decisions about the account. You can usually make deposits and withdrawals in person or through an ATM if the bank issues you a debit card, but your parent retains control. Some banks restrict what you can do online or over the phone until you turn 16 or 17.

At age 16 or 17, depending on the bank, you may gain the ability to manage the account yourself — set up direct deposit, transfer money between accounts, or use online banking — while your parent can still monitor activity. This is common with teen-focused accounts like Chase First Banking or Bank of America's Teen Checking.

At age 18, you become the sole owner. The account converts to a standard adult account, your parent's access ends, and you have full control. Some banks require you to sign new paperwork to complete this transition; others do it automatically. Confirm with your bank what happens on your 18th birthday so there are no surprises.

Different account types for minors

A custodial account is held in your name, but your parent or guardian is the custodian and has legal control. You cannot withdraw money or make major decisions without the custodian's permission. When you turn 18, the account becomes yours outright and your parent loses access. This is the most common type of account for young children.

A joint account is owned by both you and your parent. Both of you can withdraw money and make transactions. Your parent can see all activity. Joint accounts are simpler to set up than custodial accounts and work well if you and your parent want to manage money together. When you turn 18, the account remains joint unless you or your parent takes steps to change it.

A teen checking account is a hybrid designed for teenagers. You have your own debit card and online access, but your parent can monitor spending and set limits. Examples include Chase First Banking (ages 6 and up), Bank of America Teen Checking (ages 13 and up), and Wells Fargo Way2Go (ages 13 and up). These accounts often come with parental controls that let your parent approve or deny transactions, set spending limits, or receive alerts.

What happens when you turn 18

On your 18th birthday, you become a legal adult and the account ownership changes. If you have a custodial account, it automatically converts to an account in your name alone and your parent's access ends. If you have a joint account, it remains joint unless you or your parent requests a change — you will need to visit the bank or call to remove your parent as a co-owner.

Some banks require you to sign new paperwork or visit a branch to complete the transition. Others handle it automatically. Call your bank a few weeks before your 18th birthday to ask what steps you need to take. If the bank requires a signature, you can often do this online or by mail.

If your account is a teen checking account with parental controls, those controls will be removed when you turn 18. You will have full access and your parent will no longer be able to see transactions or set limits. Your parent will not be notified of this change, so make sure you understand how to manage the account on your own.

How to choose a bank

Compare banks on three things: minimum age, fees, and parental controls. Call or visit the website of banks near you and ask the minimum age for opening an account. Some banks have no minimum age if a parent is present; others require you to be at least 13 or 16.

Check whether the account has monthly fees. Many teen accounts are free, but some charge $5 to $15 per month if you do not meet certain conditions (like setting up direct deposit or maintaining a minimum balance). Ask whether fees are waived for minors or if they start when you turn 18.

If your parent wants to monitor your spending, look for banks that offer parental controls or alerts. Chase First Banking and Bank of America Teen Checking both let parents set spending limits and receive notifications. If you want more independence, choose a bank with fewer restrictions.

Opening an account online versus in person

Most banks require you to open an account in person if you are under 18, because the bank needs to verify your parent's identity and get their signature on the account paperwork. A few banks let you start the process online and finish it in a branch, but you cannot complete it entirely online.

Some online-only banks (like Ally or Marcus) do not offer accounts for minors at all. If you want to use an online bank, check their website first to confirm they accept minors and what the process is. You will likely still need to visit a physical location or mail in signed documents.

Opening in person is usually faster — you can walk out with a debit card the same day. If you open by mail, expect to wait one to two weeks for the account to be set up and your debit card to arrive.

Frequently Asked Questions

Can I open a bank account without my parent knowing?

No. Banks are required by law to verify the identity of anyone with control over the account. Since you are under 18, your parent or legal guardian must be present and sign the account paperwork. You cannot hide the account from them.

What if my parent refuses to co-sign?

You cannot open a bank account without a parent or legal guardian. If your parent refuses, talk to another trusted adult — a grandparent, aunt, uncle, or legal guardian can co-sign instead. If no adult is willing or able to help, you may need to wait until you turn 18.

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

Most banks ask for one, but not all require it. If you do not have a Social Security number, call the bank and ask whether they can open an account without one. The process may take longer because the bank will file additional paperwork with the IRS.

Can I have my own account without my parent seeing my transactions?

Not until you turn 18. Custodial and joint accounts give your parent visibility into all transactions. Teen checking accounts may offer some privacy settings, but your parent can usually still see spending. Once you turn 18, your parent's access ends and your transactions are private.

What if I want to move my money when I turn 18?

You can transfer your money to a different bank or account type once you turn 18. You are not locked into the account you opened as a minor. Ask your new bank how to transfer the money — they can usually pull it from your old account, or you can withdraw it and deposit it yourself.