Yes, you can open a bank account for a minor, but the parent or guardian must be the account owner

A minor cannot legally own a bank account by themselves. Instead, you as the parent or guardian open an account in your own name, with the minor listed as an authorized user or on a joint account. The bank treats you as the account owner responsible for all activity, and you keep full control over deposits, withdrawals, and account decisions until the minor reaches the age of majority in your state — usually 18.

This is different from a minor having their own account. Some banks offer accounts marketed to teens that feel like the teen's own account, but legally the parent or guardian still owns it and can access it at any time. Understanding this distinction matters because it affects what the minor can actually do with the money and what happens when they turn 18.

Key Takeaways

  • You must be the account owner; the minor is an authorized user or joint account holder, and you retain legal control.
  • Most banks allow you to open a custodial or youth account for a child of any age, though some have minimum age requirements starting at birth or age 13.
  • You will need your own ID, Social Security number, and proof of address; the minor needs their Social Security number but not a separate ID.
  • When the minor turns 18, the account typically converts to a standard account in their name, and you lose access unless they add you as an authorized user.
  • Some banks let you set spending limits or require your approval for withdrawals, while others give the minor full access once they have a debit card.

What documents you need to bring

You will need a government-issued photo ID (driver's license, passport, or state ID), proof of your current address (a recent utility bill or lease), and your Social Security number. The bank will verify your identity and run a background check through ChexSystems, a banking history database.

For the minor, you will need their Social Security number. Most banks do not require the minor to be present or to have their own ID. Some banks ask for a birth certificate to confirm the minor's age, though many will accept your word if you show your ID. Call the bank ahead of time to ask what they specifically need — requirements vary by institution and by the minor's age.

The difference between custodial accounts and youth accounts

A custodial account is the legal term for an account you open in your name with a minor listed on it. You are the custodian, meaning you manage the money on behalf of the minor until they reach age 18 or 21 (depending on your state and the account type). The minor's name appears on the account, but you have all the legal rights and responsibilities.

A youth account is a marketing term banks use for accounts designed for teenagers. These accounts often come with a debit card, online banking access, and sometimes spending limits you can set. Legally, they are still custodial accounts — you own them — but they are structured to give the teen more independence and teach money management. The features vary widely: some youth accounts let you set daily spending caps or require your approval for large withdrawals, while others give the teen full access once they turn 13 or 16.

Neither type is a savings account specifically for minors' money that grows tax-free. If you are looking for that, you may want to ask the bank about a Uniform Transfers to Minors Act (UTMA) account or Uniform Gifts to Minors Act (UGMA) account, which have tax advantages but stricter rules about when and how the minor can access the money. Not all banks offer these.

What happens when the minor turns 18

When the minor reaches the age of majority in your state (usually 18, sometimes 21), the account automatically converts to a standard account in their name. You are removed as the account owner, and you no longer have legal access to the account or the money in it. The minor becomes the sole owner and can do whatever they want with the funds.

Some banks notify you before this happens; others do not. If you want to stay involved after the conversion, the young adult would need to add you as an authorized user, which they can choose to do or refuse. This is a good reason to have a conversation with your teen before they turn 18 about what will happen and whether you will remain connected to the account.

Minimum age requirements vary by bank

Most major banks allow you to open a custodial account for a child of any age, including newborns. However, some banks have a minimum age — often 13 — if you want the minor to have a debit card or online access. A few banks require the minor to be at least 16 to get a debit card.

If your child is younger than the bank's minimum age for a debit card, you can still open an account and deposit money into it; the minor just will not be able to withdraw funds directly. You would handle all transactions. Once they reach the minimum age, the bank will issue a debit card and set up online banking access.

How to open the account in person or online

Most banks let you open a custodial account online without visiting a branch. You will go to the bank's website, select the option for a minor or youth account, and fill out an process with your information and the minor's name and Social Security number. The bank will verify your identity electronically and usually approve the account within a few minutes to a few hours.

Some banks still require you to visit a branch in person, especially if you are opening an account for a very young child or if you do not have online banking set up yet. Call the bank or check their website to see which option they offer. If you go in person, bring all the documents listed above and expect the process to take 15 to 30 minutes.

After the account opens, the bank will mail a debit card to the address on file (usually yours). The card typically arrives within 7 to 10 business days. You can set up online banking and mobile app access right away, even before the card arrives.

Setting limits and controlling access

How much control you have over the account depends on the bank and the account type. Some youth accounts let you set a daily spending limit on the debit card, require your approval for online transfers, or block certain types of transactions (like ATM withdrawals). Others give the minor full access to the debit card and online banking with no restrictions once the card is activated.

If control and limits are important to you, ask the bank specifically what options they offer before you open the account. Some banks let you change these settings through their mobile app or online banking portal; others require you to call or visit a branch. Keep in mind that even if you set limits on the debit card, the minor can still visit a branch and withdraw cash if they have access to the account number.

Frequently Asked Questions

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

No. A minor cannot legally own a bank account. A parent or guardian must open and own the account. Some banks offer accounts for older teens (usually 16 or older) that feel more independent, but the parent or guardian still owns the account legally and can access it.

Does the minor need their own Social Security number?

Yes. The bank will ask for the minor's Social Security number to report interest earned and to comply with tax and banking regulations. If the minor does not have a Social Security number, you can explore for one at your local Social Security office or online at ssa.gov.

What if the minor's other parent wants access to the account?

Both parents can be listed as account owners if you both go to the bank together with ID and proof of address. The account will be in both your names, and either of you can make deposits or withdrawals. If you are not married or do not have joint custody, the bank may ask for custody documentation before adding the other parent.

Can I move money out of the minor's account whenever I want?

Yes, because you own the account. However, money you deposit specifically as a gift to the minor may have tax or legal implications if the amount is large. If you are setting aside money for the minor's future and want it protected, ask the bank about UTMA or UGMA accounts, which have rules about when the money can be accessed.

What happens if the minor loses their debit card?

Call the bank when ready to report it lost or stolen. The bank will cancel the card and mail a replacement, usually within 7 to 10 business days. Most banks do not charge a fee for a replacement card. Until the new card arrives, you can withdraw cash at a branch or ATM using the account number, or transfer money online if online banking is set up.