Yes, you can open a checking account for a child, but the account structure depends on their age

You can open a checking account in your child's name at most banks and credit unions, but the rules change based on whether your child is under 18. For children under 13, you will typically open a custodial account — the account is in your child's name, but you control it as the parent or legal guardian until they reach the age of majority (usually 18). For teenagers 13 and older, many banks offer teen checking accounts that give the young person more control while you retain oversight through monitoring tools.

The key difference is who can sign checks, make withdrawals, and manage the account day-to-day. With a custodial account, you sign all transactions. With a teen account, your teenager can use a debit card and make withdrawals, but you can see the activity and set spending limits. Some banks let you transition from one type to the other as your child gets older.

Key Takeaways

  • Children under 13 typically need a custodial account where you control all transactions, while teenagers 13 and up can use teen checking accounts with parental oversight.
  • You will need your child's Social Security number, proof of identity for yourself, and proof of address to open any account.
  • Most banks and credit unions offer these accounts with no or very low minimum balances, though some charge monthly fees if the balance drops below a set amount.
  • Teen accounts usually come with a debit card and online banking access, letting your teenager practice managing money while you monitor spending.
  • The account remains in your child's name and becomes fully theirs when they turn 18, though some banks require you to convert it to a standard account at that point.

What you need to bring to open the account

Bring your child's Social Security number and a form of ID — usually a birth certificate or passport. You will also need to show your own ID (driver's license or passport) and proof of your current address, such as a utility bill or lease. Some banks accept a state ID card for your child instead of a birth certificate if your child is a teenager.

If you are opening the account in person at a branch, the bank will verify this information on the spot. If you open it online, you will upload images of these documents or answer security questions to confirm your identity. A few banks require you to visit a branch in person for accounts for children under 13, even if you can open teen accounts online.

Custodial accounts for children under 13

A custodial checking account is registered in your child's name with you listed as the custodian. You have full control — you deposit money, you write checks, you authorize withdrawals. Your child does not get a debit card or online access. The account teaches your child about money because they can see the balance and watch deposits and withdrawals happen, but they cannot spend without your permission.

The account earns interest, though most checking accounts earn very little. The interest is taxable income to your child, and you will receive a 1099-INT form at tax time if the interest exceeds $10 in a year. This is rarely a concern with checking accounts, which typically earn less than 0.01% annually, but it is worth knowing.

When your child turns 13, you can usually convert the custodial account to a teen account without closing it. Some banks do this automatically; others require you to request the change. Check with your bank about their conversion process before you open the account.

Teen checking accounts for ages 13 and up

Teen checking accounts give your teenager a debit card, online banking access, and the ability to make withdrawals and check their balance. You retain a parent account linked to theirs, where you can see all transactions, set daily spending limits, and turn the card on or off if needed. Some banks let you receive alerts when your teenager makes a purchase above a certain amount.

Your teenager can deposit checks using a mobile app on many accounts, and they can transfer money between their account and yours. They cannot overdraft — if they try to spend more than they have, the transaction is declined. This prevents surprise fees and teaches them to track their balance.

The account is still in your teenager's name, and you remain the custodian until they turn 18. At that point, the account becomes theirs fully, though some banks require a conversion step where you remove yourself as custodian.

Monthly fees and minimum balance requirements

Many banks charge no monthly fee for custodial or teen checking accounts. Others charge $5 to $10 per month, though they often waive the fee if you maintain a minimum balance (typically $100 to $500) or set up direct deposit. A few banks waive fees for accounts opened by customers under 18 regardless of balance.

Check the fee schedule before you open the account — it is usually listed on the bank's website under "Checking Accounts" or "Teen Accounts". If your child's account will sit mostly empty, a no-fee account is worth the extra step of finding it. If you plan to use direct deposit from your paycheck, the fee waiver for direct deposit might make a higher-fee account worthwhile.

Where to open an account: banks versus credit unions

Both banks and credit unions offer checking accounts for children. Banks are larger and have more branches, which matters if you want in-person service. Credit unions are member-owned and sometimes offer lower fees and higher interest rates, though they have fewer locations.

If you already bank somewhere, check whether they offer teen or custodial accounts before you switch. Many large banks — Chase, Bank of America, Wells Fargo, Citibank — have teen checking products. Credit unions vary by location; you can search for credit unions near you on the CO-OP or Allpoint networks to see which ones are accessible to you.

Online banks like Ally, Charles Schwab, and Discover generally do not offer accounts for minors, so if you want to open an account for a child, you will need to use a traditional bank or credit union.

What happens when your child turns 18

When your child reaches 18, the custodial or teen account becomes a standard adult account in their name. You are no longer the custodian, and you no longer have access to the account unless your child adds you as an authorized user. Some banks require you to formally remove yourself; others do it automatically.

Your child can keep the same account and card, or they can close it and open a new one elsewhere. There is no requirement to do anything — the account straightforward transitions. If you want to maintain visibility into their spending after they turn 18, you would need to ask them to add you as an authorized user, which they can decline.

Frequently Asked Questions

Can I open a checking account for my child without them present?

Yes. You can open a custodial account online or at a branch with just your child's Social Security number and birth certificate. Your child does not need to be there. For teen accounts, policies vary — some banks allow you to open online without your teenager present, while others require them to be there in person or to verify their identity online.

Will my child's account affect my credit score?

No. Checking accounts do not appear on credit reports and do not affect your credit score or your child's. The account is purely for storing and spending money, not for borrowing.

What if my child loses their debit card?

Call the bank when ready and report it lost. The bank will cancel the card and issue a replacement, usually within 5 to 10 business days. Most banks do not charge a fee for a replacement card. Until the new card arrives, your child can withdraw cash at an ATM using their PIN or visit a branch with ID.

Can my child have more than one checking account?

Yes. Your child can have accounts at multiple banks. There is no law limiting the number of accounts a minor can hold. Some families open one account for everyday spending and another for savings, though a single account with a high balance often works just as well.

Do I need to report the account to the IRS?

No. A custodial checking account does not require any special tax reporting. If the account earns interest above $10 in a year, the bank will send a 1099-INT form, which you report on your child's tax return if they file one. Most custodial checking accounts earn so little interest that this is not a concern.