Yes, minors can open a bank account, but a parent or guardian must be involved

A minor — someone under 18 — cannot walk into a bank alone and open an account. Banks require a parent or legal guardian to co-own the account, sign the paperwork, and take responsibility for it. The account itself belongs to both of you until the minor turns 18, at which point they can take full control.

The specific rules vary by bank and by state. Some banks let minors as young as 13 open accounts with a parent present. Others require the minor to be 16 or older. A few banks have no minimum age as long as a parent is there. The best approach is to call your bank or visit a branch to ask what age they accept and what documents you'll need to bring.

Key Takeaways

  • A parent or legal guardian must be present and co-own the account — minors cannot open accounts alone.
  • Age requirements range from 13 to 16 depending on the bank, so contact your bank to confirm their minimum age.
  • You will need the minor's birth certificate or passport, the parent's ID, and proof of address for both of you.
  • Most banks offer youth checking or savings accounts with lower fees and limited overdraft options designed for learning.
  • Once the minor turns 18, they can convert the account to their own name or keep it as a joint account if they choose.

What documents you need to bring

Bring the minor's birth certificate or passport to prove their age and identity. The parent or guardian will need a government-issued ID — a driver's license, state ID card, or passport. You'll also need proof of address for at least one of you, which can be a utility bill, lease, mortgage statement, or recent bank statement dated within the last 60 days.

Some banks also ask for a Social Security number for the minor. If the minor doesn't have one yet, you can still open the account in most cases, but the bank will ask you to provide it later. You can explore for a Social Security number at your local Social Security office or online at ssa.gov.

The difference between joint accounts and custodial accounts

Most banks offer a joint account, where both the parent and minor have equal access and can withdraw money. This is the simplest option and works well when a parent wants to teach a teenager to manage money while keeping an eye on spending.

Some banks also offer custodial accounts, where the parent is the legal custodian and has more control over what the minor can do. The minor may have a debit card and access to check balances, but the parent controls large withdrawals or account changes. Custodial accounts are less common than joint accounts at regular banks, but they are standard at investment firms if you're opening a brokerage account for a minor.

Ask the bank which type they offer. For most families, a joint checking or savings account is what you'll get.

What happens when the minor turns 18

When the minor reaches 18, they become a legal adult and can take full control of the account. The parent's name can be removed, or both names can stay on the account if you both want that. The minor can also open their own separate accounts at that point.

Some banks automatically send a notice when an account holder turns 18 to explain the options. If you don't hear from the bank, call and ask what steps need to be taken. There's usually no fee to change the account structure.

Types of accounts designed for minors

Many banks offer youth checking or savings accounts with features tailored for learning. These might include lower minimum balances, no monthly fees, limited overdraft options (so the account can't go deeply negative), and tools to set spending limits. Some accounts come with a debit card that works like a regular card but only lets the minor spend what's in the account.

A few banks also offer accounts with parental controls — apps or online tools that let a parent see spending, set alerts, or approve certain transactions. These are useful if you want to teach a teenager about money without giving them complete freedom right away.

Compare what your bank offers before you go in. If their youth account doesn't have the features you want, another bank might be a better fit.

Where to open an account

You can open an account at any bank or credit union that serves your area. National banks like Bank of America, Chase, and Wells Fargo all offer youth accounts. Local and regional banks often do too. Credit unions — member-owned financial institutions — sometimes have lower fees and may be more flexible about age requirements.

You can start by calling your current bank to ask if they offer accounts for minors and what the process is. If you don't have a bank yet, search online for banks or credit unions near you, then call to compare their youth account options before visiting in person.

Frequently Asked Questions

Can a minor open an account without a parent present?

No. A parent or legal guardian must be present and co-own the account. Some banks may allow a grandparent or other relative if they have legal guardianship, but you'll need to bring court documents proving that. Call your bank to ask what relationships they accept.

What if the parent doesn't have an ID?

The bank will need some form of government-issued ID from the parent — a driver's license, state ID card, or passport. If the parent doesn't have one, you can explore for a state ID card at your local DMV. This usually takes a few weeks, so plan ahead.

Can a minor have their own account without a parent's name on it?

No, not until they turn 18. Banks require a parent or guardian to be a co-owner while the minor is under 18. This protects both the bank and the minor by ensuring an adult is responsible for the account.

Do minors need their own Social Security number?

Most banks ask for it, but you can open an account without one and provide it later. If the minor doesn't have a number yet, you can explore at your local Social Security office or online at ssa.gov. The process takes a few weeks.

Will opening a bank account affect the minor's credit?

No. Opening a checking or savings account does not create a credit report or affect credit. Credit reports only start when someone borrows money — through a loan, credit card, or similar product. A bank account is just a place to store money.