Yes, you can open a bank account for a minor — a parent or guardian opens it with them

A minor can have a bank account, but a parent or legal guardian must open it and be listed as the account owner alongside the child. The child's name appears on the account, but the adult has full control until the child reaches the age of majority in your state — usually 18, sometimes 21.

Most banks offer accounts designed for children and teens. These accounts work like regular checking or savings accounts, but with features parents often want: spending limits, parental controls, and the ability to monitor activity. Some banks let you set rules about what the debit card can be used for, or require your approval before large withdrawals.

You do not need the child to have a Social Security number or credit history. You will need the child's name, date of birth, and Social Security number (or an Individual Taxpayer Identification Number if the child does not have one). The parent or guardian will need a photo ID and proof of address.

Key Takeaways

  • A parent or legal guardian must open the account and remain the owner until the child reaches age of majority, which varies by state.
  • Most banks offer youth or teen accounts with parental controls, spending limits, and the ability to monitor transactions.
  • You will need the child's date of birth and Social Security number, plus your own photo ID and proof of address.
  • Some accounts come with a debit card; others are savings-only until the child is older.
  • The account can be opened in person at a branch or online, depending on the bank.

What documents you need to bring

Bring your own photo ID (driver's license, passport, or state ID) and a recent proof of address — a utility bill, lease, or bank statement dated within the last 60 days. The bank will ask for the child's full name, date of birth, and Social Security number. If the child does not have a Social Security number, you can use an Individual Taxpayer Identification Number, though some banks may not accept this.

If you are the legal guardian but not the biological parent, bring documentation of guardianship — a court order or custody agreement. Banks vary on what they accept, so call ahead if you are unsure whether your documents will work.

Some banks let you open an account online without visiting a branch. In that case, you will upload photos of your ID and proof of address instead of showing them in person. The process is usually faster, but not all banks offer online opening for minor accounts.

The difference between custodial and joint accounts

Most accounts for minors are custodial accounts, meaning the parent is the custodian and the child is the beneficiary. The parent controls the account completely until the child reaches age of majority. At that point, the account automatically converts to a regular account in the child's name alone, and the parent loses access.

Some banks also offer joint accounts, where both the parent and child are listed as owners with equal rights. Both can withdraw money and make decisions about the account. Joint accounts do not automatically convert — you will need to change the account structure yourself when the child is older. Joint accounts are less common for minors because they give the child more control than parents usually want.

Ask the bank which type they are offering. Most will default to custodial, which is what most parents prefer for younger children.

What happens when the child turns 18 or 21

When the child reaches age of majority in your state, a custodial account converts to a regular account in their name. The parent's name is removed, and the parent can no longer see the account or make changes. This happens automatically — you do not have to do anything, though the bank will usually send a notice before it happens.

The child keeps the same account number, debit card, and balance. If the account had a debit card with a PIN or spending limit set by the parent, those restrictions are lifted. The child now has full control.

If you want to stay involved in the account after the child turns 18, you will need to set that up separately — for example, by being added as an authorized user, which requires the child's permission. This is different from the custodial setup and gives you less control.

Banks that offer accounts for minors

Most major banks offer youth or teen accounts. Chase, Bank of America, Wells Fargo, and Citibank all have versions. Credit unions often offer them too, and sometimes with lower or no monthly fees. Online banks like Ally and Discover also have options, though you will need to open the account online rather than in a branch.

The features vary. Some accounts come with a debit card when ready; others require the child to be a certain age (often 13) before a card is issued. Some have monthly fees; others waive fees for minors. Some let you set spending limits or require parental approval for certain transactions; others do not.

Compare a few banks before opening. Call or visit their website and ask specifically about their minor account features, any monthly fees, and the age at which a debit card is issued. The right account depends on what you want to teach your child and how much monitoring you want to do.

How to open the account in person or online

In person: Visit a branch with your ID, proof of address, and the child's information. Tell the banker you want to open a custodial account for a minor. They will fill out the paperwork, which usually takes 15 to 30 minutes. You will sign, and the account opens that day. A debit card may be issued on the spot or mailed within a few days.

Online: Go to the bank's website and look for "open an account" or "youth account". You will upload photos of your ID and proof of address, enter the child's information, and sign electronically. The process usually takes 10 to 15 minutes. The account opens within one to three business days, and a debit card is mailed separately.

Some banks require at least one visit to a branch to open a minor account, even if you start online. Check the bank's website or call before you begin, so you know what to expect.

Frequently Asked Questions

Can a minor open a bank account without a parent or guardian?

No. A parent or legal guardian must open the account and be listed as the owner. The minor cannot open an account alone, even if they are 17 or close to age of majority. Some banks offer accounts for minors 13 and up where the teen can manage the account online, but an adult must still be the account owner.

What if the child does not have a Social Security number?

You can use an Individual Taxpayer Identification Number instead. Not all banks accept this, so call ahead. If the child is a U.S. citizen or permanent resident, you can also explore for a Social Security number through the Social Security Administration — it is free and usually takes a few weeks.

Can I set spending limits on the debit card?

Many banks let you set daily spending limits or require your approval before large purchases. Some let you block certain types of transactions, like online shopping or ATM withdrawals. Ask the bank what controls are available before you open the account. Not all banks offer these features.

What if I want to add money to the account from a distance?

You can transfer money from your own account at the same bank, or use an external transfer from another bank. Some banks also let you deposit checks by taking a photo with your phone. Ask the bank what deposit methods are available for the account.

Do I need to close the account when the child turns 18?

No. The account automatically converts to a regular account in the child's name. You can leave it open, or the child can close it and open a new account elsewhere if they prefer. There is no requirement to do anything.