Kids can have checking accounts, but the rules depend on their age

Yes, children can open checking accounts. Most banks let kids as young as six or seven open an account, though the account must be in a parent's or guardian's name alongside the child's until the child reaches the age of majority (usually 18). Some banks have no age minimum at all — they only require that a parent or guardian co-own the account and manage it.

The account works like a regular checking account: the child gets a debit card, can make deposits and withdrawals, and can see their balance. The difference is that a parent or guardian has full access and control. You can set spending limits, monitor transactions, and freeze the card if needed. As the child gets older, many banks let you gradually hand over more control without closing the account.

A few banks offer accounts specifically designed for teenagers that let them manage money with parental oversight built in. These accounts often come with educational tools and the ability to set rules — like requiring parental approval for purchases over a certain amount. But a standard joint checking account works just as well and may have lower or no monthly fees.

Key Takeaways

  • Children can open checking accounts at most banks, but a parent or guardian must co-own the account until the child turns 18.
  • The parent has full control of the account and can monitor all transactions, set spending limits, and manage the debit card.
  • Some banks offer teen-specific accounts with built-in parental controls and educational features, while others let you use a standard joint account.
  • Monthly fees vary by bank and account type — many banks waive fees for accounts opened by minors or offer accounts with no monthly cost.

What happens when you open an account for a child

When you open a joint checking account with a child, you will need to bring the child's Social Security number and proof of identity (usually a birth certificate or passport). You will also need your own ID and proof of address. Some banks let you start the process online, but most require at least one in-person visit to verify the child's identity.

Once the account is open, the child typically receives a debit card in their name. The card works at ATMs and stores just like an adult's card, but you can set restrictions through the bank's app or website. Many banks let you turn the card on and off, set daily spending limits, block certain types of purchases (like online shopping), or require your approval for transactions above a set amount.

The account statement shows all transactions and goes to you (the parent or guardian). Most banks let you set up alerts so you get a text or email when the child makes a purchase, reaches a spending limit, or the balance drops below a certain amount. This gives you real-time visibility without having to check the account constantly.

Age matters: what changes as your child gets older

Banks treat accounts differently depending on the child's age. A six-year-old's account looks the same on paper as a teenager's account, but the practical setup is different. With a young child, you might not issue a debit card at all — instead, you manage all transactions yourself and use the account to teach the child about saving. With a teenager, you might issue a card with a spending limit and let them make their own purchases within that limit.

Around age 13, some banks begin offering accounts that give teenagers more independence while keeping parental controls in place. These accounts often come with features like the ability to set up a savings goal, earn interest on the balance, or get notifications when the child makes a purchase. The parent can still see everything and set rules, but the teenager has a real sense of ownership.

When the child turns 18, the account automatically converts to a standard individual account in the child's name alone. At that point, you lose access unless the child adds you as an authorized user. Some banks send a notice before this happens so you can discuss what comes next. If the child wants you to keep helping manage the account, they can add you as an authorized user, but they remain the primary account holder.

How to choose between a standard account and a teen-specific account

A standard joint checking account works for any age and costs less. Most banks charge no monthly fee for accounts opened by minors, or they waive the fee if you maintain a minimum balance (often $100 to $500). You get the same debit card, the same online banking, and the same parental controls as a teen-specific account. The main trade-off is that teen-specific accounts sometimes come with educational features — like goal-setting tools or articles about money — that a standard account does not.

Teen-specific accounts are designed to feel more like "the teenager's account" even though you still control it. They often have lower or no minimum balance requirements, may offer slightly higher interest on savings, and come with features aimed at teaching financial habits. Some banks market these accounts with names like "Teen Checking" or "Student Checking." The monthly fee is usually the same as a standard account (often zero), but you should confirm this before opening.

The best choice depends on what you want the account to teach. If you want a straightforward way to give your child a debit card and monitor spending, a standard joint account is fine. If you want the account itself to encourage saving or goal-setting, a teen-specific account might be worth comparing. Either way, the parental controls and oversight are similar.

What you need to bring to open an account

Bring your ID and proof of address (a recent utility bill, lease, or mortgage statement usually works). Bring the child's birth certificate or passport and their Social Security number. Some banks also ask for a second form of ID for you, such as a driver's license. Call the bank ahead of time to confirm what they need — requirements vary slightly between banks and between branches of the same bank.

If you are opening the account online, you will upload photos of these documents instead of bringing them in person. The bank will then ask you to come in to verify the child's identity in person before the account is fully activated. A few banks let you complete the entire process online with a video call, but this is less common.

You do not need to have an existing account at the bank to open a joint account with your child. However, if you already bank there, the process is usually faster because the bank already has your information on file.

Fees and minimum balances to watch for

Most banks charge no monthly fee for checking accounts opened by minors. However, some banks charge a monthly fee if the account does not meet a minimum balance requirement — often $100 to $500. A few banks charge a small monthly fee (usually $3 to $5) regardless of balance, though they may waive it if you set up direct deposit or maintain a linked savings account.

Read the account agreement carefully, because fees can add up. Some banks charge a fee for overdrafts (spending more than the balance), for using an out-of-network ATM, or for paper statements. Many of these fees are waivable if you meet certain conditions — like keeping a minimum balance or setting up automatic transfers from a savings account.

If you are comparing accounts, ask the bank directly about all possible fees and whether any are waived for minor accounts. The bank's website usually lists fees, but calling or visiting in person often reveals discounts or exceptions that are not advertised online.

How parental controls work in practice

Most banks let you control the account through their mobile app or website. You can usually turn the debit card on or off with a single tap, which is useful if the card is lost or if you want to prevent spending temporarily. You can set a daily spending limit (for example, $20 per day), which means the card will be declined if the child tries to spend more than that amount in a single day.

Some banks let you block specific types of purchases — for instance, you might block online shopping but allow in-store purchases, or block gas stations but allow grocery stores. You can also require your approval for any transaction above a set amount, which means the child's purchase will be pending until you approve it through the app.

Alerts are another useful tool. You can set the bank to text or email you whenever the child makes a purchase, whenever the balance drops below a certain amount, or whenever the card is used at a specific type of merchant. This gives you visibility without micromanaging, and it helps the child learn that spending is being tracked.

Frequently Asked Questions

Can a child open a checking account without a parent?

No. Banks require a parent or guardian to co-own the account and be present when it opens. The child cannot open an account alone until they turn 18, and even then, some banks have their own age requirements (a few require you to be 21). A parent or guardian must be involved from the start.

What happens to the account when my child turns 18?

The account automatically converts to an individual account in your child's name. You lose access unless your child adds you as an authorized user. The bank usually sends a notice before this happens. If you want to keep helping manage the account, your child can add you, but they become the primary account holder with full control.

Can I set a spending limit on the debit card?

Yes. Most banks let you set a daily spending limit through their app or website. You can also turn the card on and off, block certain types of purchases, or require your approval for transactions above a set amount. The specific controls vary by bank, so check what your bank offers before opening the account.

Do I need to have an account at the same bank?

No, but it makes the process faster if you do. If you already bank somewhere, opening a joint account with your child there is usually quicker because the bank already has your information. If you do not have an account, you can still open a joint account — you will just need to provide your ID and proof of address during the process.

What if the account has a monthly fee?

Many banks waive monthly fees for minor accounts, but some charge $3 to $5 per month. The fee may be waived if you maintain a minimum balance, set up direct deposit, or link a savings account. Read the account agreement or ask the bank directly about all fees and how to avoid them before you open the account.