How Teens Can Open a Bank Account Before Age 18

Yes, you can open a bank account before you turn 18 — but you'll need a parent or guardian to co-own it with you

Most banks allow teenagers to open accounts, but the rules depend on your age and the bank. If you're under 18, you cannot open an account entirely on your own. Instead, a parent or legal guardian must open the account with you, and their name goes on it alongside yours. This is called a custodial account or minor account. Once you turn 18, you can convert it to an account in your name alone, or open a separate account without a co-owner.

The exact age at which you can start varies by bank. Some allow accounts from birth (usually for savings), while others require you to be at least 13 or 16 before you can have a debit card or make withdrawals. The parent or guardian has full access to the account and can see all transactions, which is why banks require their involvement.

Key Takeaways

A parent or guardian must co-own your account if you're under 18, and their name appears on the account alongside yours.
Different banks set different minimum ages — some allow accounts from birth for savings, while others require you to be 13 or older to get a debit card.
You will need a government-issued ID (like a school ID or passport), proof of your parent's identity, and proof of your address to open an account.
Once you turn 18, you can remove your parent from the account or open a new account in your name alone without their involvement.

What documents you'll need to bring

To open a minor account, you and your parent or guardian will both need to visit the bank in person (some banks may allow you to start online, but you'll still need to verify in person). Bring your government-issued ID — a school ID, passport, or state ID card all work. Your parent will need their own government-issued ID as well.

You'll also need proof of your address. This can be a utility bill, lease agreement, or mortgage statement in your parent's name. Some banks accept a school report card or letter from school if it shows your current address. Ask the bank ahead of time what they accept, because requirements vary.

How age affects what you can do with the account

Younger teens may be able to open a savings account but not get a debit card. For example, some banks allow children as young as 13 to have a debit card, while others require you to be 16. A few banks have no minimum age for a savings account but won't issue a debit card until you're older.

If you want to use the account to receive paychecks from a job, make sure the bank allows direct deposit for minors — most do, but it's worth confirming. Your parent will see every transaction you make, which is standard for accounts they co-own. This changes once you turn 18 and the account becomes yours alone.

The difference between a custodial account and a joint account

A custodial account is designed specifically for minors. The parent or guardian is the custodian, meaning they manage the account on your behalf until you reach the age of majority (18 in most states). At that point, the account automatically becomes yours, and the custodian's involvement ends. You don't have to ask permission or sign new paperwork — it happens by law.

A joint account is different. Both people on the account have equal rights and can withdraw money or close the account. Joint accounts don't automatically change when you turn 18. If your parent opens a joint account instead of a custodial one, you'll both still have full access after you turn 18 unless you take steps to change it. Ask the bank which type they're offering before you open it.

What happens when you turn 18

When you reach 18, your custodial account converts to a regular account in your name alone. The bank will send you paperwork confirming the change, and your parent's name is removed. You'll have full control — your parent can no longer see transactions or withdraw money. If you want to keep the same account number and routing information (useful if paychecks are already being deposited there), you can straightforward keep the account as is.

If the account is a joint account instead, nothing changes automatically. Both you and your parent will still have access unless one of you goes to the bank and requests to be removed. Some people keep joint accounts with a parent into adulthood for convenience, while others prefer to separate their finances.

Banks that offer teen accounts

Most major banks offer minor accounts, including Chase, Bank of America, Wells Fargo, and Citibank. Credit unions often have teen accounts as well, and sometimes with lower minimum balances or fewer fees. Online banks like Ally and Marcus do not typically offer accounts for minors, because they don't have physical branches where you can verify your identity in person.

Some banks market accounts specifically to teens with features like spending limits that parents can set, alerts when money is spent, or educational tools about money management. These aren't required — a standard savings or checking account works just as well. Compare what different banks near you offer, because features and fees vary.

If your parent won't co-own the account

If you don't have a parent or guardian available to open an account with you, a few options exist. Some banks allow a trusted adult like a grandparent, aunt, or uncle to be the co-owner instead. You'll need to explain your situation to the bank and ask what they allow.

If no adult can help, you may be able to wait until you turn 18 to open your own account. In the meantime, you could ask a parent or guardian to open an account in their name alone and give you access to a debit card linked to it — though this is less find because you have no legal ownership. This is a temporary solution, not a long-term one.

Frequently Asked Questions

Can I open a bank account at 13 or 14?

Yes, many banks allow accounts from age 13 onward, though some require you to be 16. The rules vary by bank and by account type. Call your local bank or check their website to ask the minimum age for the type of account you want — savings, checking, or with a debit card.

Will my parent see all my transactions?

Yes, if you have a custodial account, your parent or guardian can see every transaction because they co-own the account. This is standard and required by law. Once you turn 18 and the account becomes yours alone, they will no longer have access unless you keep it as a joint account.

What if I want to open an account without telling my parent?

You cannot open an account under 18 without a parent or guardian's involvement — banks are required by law to have a co-owner. If you're concerned about privacy, talk to your parent about what information they'll see and set expectations together.

Can I use my school ID to open an account?

Most banks accept a school ID as proof of identity for minors, especially if it has your photo and date of birth. Your parent will need a government-issued ID like a driver's license or passport. Bring both and ask the bank what they need before you go.

Do I need a minimum balance to open a teen account?

Minimum balance requirements vary by bank and account type. Some banks have no minimum, while others require $25 or $100 to open. Many waive the minimum for teen accounts. Ask the bank directly, because this affects whether you can afford to open the account.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.