You can open a bank account at any age, but the rules change depending on whether you're under 18
A child under 18 cannot open an account alone—a parent or legal guardian must be present and sign the paperwork. The account will be in both names, and the adult has full access and control. Once you turn 18, you can open your own account without a parent's permission or involvement.
Banks don't have a minimum age requirement, but they do have different account types for different situations. A parent can open a custodial account for a child of any age. Some banks let teenagers open their own accounts at 13 or 14 with a parent co-signing. A few banks offer accounts for kids as young as 6, though these are really savings tools the parent manages.
The specific age at which you can open an account on your own—or with a parent present—depends on the bank. There is no federal rule that says "you must be X years old." Each bank sets its own policy.
Key Takeaways
- Children under 18 need a parent or legal guardian to open a bank account, and the adult's name appears on the account.
- Some banks allow teenagers to open accounts at 13 or 14 with parental co-signature; others require you to be 18.
- Once you turn 18, you can open an account in your name alone without parental permission.
- You will need a Social Security number and proof of identity (yours and your parent's if you're under 18) to open an account.
- Different account types serve different purposes: savings accounts for building money, checking accounts for everyday spending, and custodial accounts for parents to manage money for young children.
What happens when you open an account before age 18
The account is a joint account or custodial account, depending on the bank's terminology. Both names appear on the account. The parent or guardian can deposit money, withdraw money, and see all transactions. You can also use the account—make deposits, withdraw cash, use a debit card if the bank issues one—but the adult retains full legal control.
The parent's Social Security number and the child's Social Security number both go on the account. The bank will run a background check on the adult (not the child). You'll need to bring identification: a state ID, passport, or birth certificate for the minor, and a driver's license or passport for the parent.
When you turn 18, the account does not automatically convert to your name alone. You and the parent can visit the bank together and request that the parent's name be removed, or you can open a new account in your name and transfer the money. Some banks make this transition automatic; others require you to ask.
Banks with accounts for teenagers 13 and up
Some banks let teenagers open accounts earlier than 18, usually between ages 13 and 16, with a parent co-signing. These accounts often come with a debit card and online access. The parent still has visibility into the account, but the teenager can manage it more independently than a younger child would.
Examples include Chase (which allows accounts for customers 13 and up with a parent), Bank of America (13 and up), and Wells Fargo (10 and up, though policies vary by branch). Credit unions often have similar programs. The exact age and rules vary, so call your bank or visit a branch to ask what they offer.
These accounts are useful if you want to teach a teenager to manage money, receive paychecks from a job, or have their own debit card. The parent can set spending limits on some accounts or monitor transactions online.
What you need to bring to open an account
Bring your Social Security number (or your parent's if you don't have one yet). Bring a form of ID: a state ID, passport, school ID with a photo, or birth certificate. If you're under 18, your parent or legal guardian must be present with their own ID—usually a driver's license or passport.
Some banks ask for proof of address, such as a utility bill or lease in the parent's name. A few ask whether you have had a bank account before or whether you've ever had a checking account closed for overdrafts or fraud. Be honest about this; banks check ChexSystems, a database that tracks banking history.
You do not need to bring money to open the account, though most banks require a small opening deposit—often $25 to $100. Some waive this if you set up direct deposit.
The difference between custodial and joint accounts
A custodial account is held "in trust for" the child. The parent is the custodian and has legal control until the child reaches the age of majority (18 in most states, 21 in a few). At that point, the account automatically becomes the child's alone, and the parent's access ends. The parent cannot take the money out once the child turns 18.
A joint account is held by both the parent and the child together. Both names are on the account, and either person can withdraw money or close the account at any time. When the child turns 18, the account remains joint unless one person requests to remove the other's name.
Most banks use the custodial structure for accounts opened for minors, because it protects the money for the child's future. A joint account gives the parent more flexibility but also means the parent could withdraw all the money after the child turns 18 if they wanted to.
What happens at age 18
Once you turn 18, you are a legal adult and can open a bank account in your name alone. You no longer need a parent's permission or signature. You can walk into any bank, provide your ID and Social Security number, and open a checking or savings account.
If you already have an account from childhood, you can keep it as is (with the parent's name still on it), request that the parent's name be removed, or open a new account and transfer the money. If the account was custodial, it becomes yours automatically, and the parent's access ends. If it was joint, the parent's name stays on it unless you both go to the bank and remove it.
At 18, you also become responsible for overdrafts, fees, and any debt on the account. If you overdraw the account, the bank will charge you fees, and the negative balance will appear on your ChexSystems record, which can make it harder to open accounts at other banks in the future.
Why you might want an account before 18
A bank account lets you deposit paychecks from a job, save money safely, and learn how to manage money before you're on your own. If you have a job, your employer may require direct deposit, which means you need a bank account. A debit card attached to the account lets you buy things online or in stores without carrying cash.
An account also builds your banking history. When you turn 18 and want to open a credit card or take out a loan, lenders look at how you've managed bank accounts in the past. A clean record—no overdrafts, no closed accounts—makes it easier to borrow money later.
For parents, a custodial account is a way to teach financial responsibility. The child can see how deposits and withdrawals work, understand that money doesn't appear from nowhere, and practice making decisions about spending and saving.
Frequently Asked Questions
Can I open a bank account without my parent knowing?
No. If you're under 18, a parent or legal guardian must be present and sign the paperwork. The bank will not open an account for a minor without an adult present. Once you turn 18, you can open an account without telling anyone.
What if I don't have a Social Security number yet?
You can still open an account, but the bank will ask for an Individual Taxpayer Identification Number (ITIN) or will issue you a temporary number. You'll need to provide your Social Security number later, usually within 30 days. If you're a newborn, your parent can open a custodial account and add your Social Security number once you receive it.
Can my parent take money out of my account after I turn 18?
If the account is custodial, no—it becomes yours automatically at 18, and the parent's access ends. If the account is joint, yes, unless you remove the parent's name. Visit the bank with your ID and ask to remove the other person from the account.
Do I need to bring my birth certificate?
A birth certificate works as proof of identity, but a state ID or passport is faster. If you don't have either, bring your birth certificate and the bank will accept it. Your parent will need a driver's license or passport.
What if I want to switch banks after I turn 18?
You can open a new account at a different bank and transfer your money. The old account can stay open or you can close it. There's no penalty for switching banks, and you can have accounts at multiple banks at the same time.