The minimum age to open a bank account depends on the account type and the bank

Most banks will not open an account for anyone under 18 without a parent or guardian on the account as well. Some banks allow minors as young as 13 to open a checking or savings account if a parent or guardian is a joint account holder and can sign the paperwork. A few banks have no stated minimum age — they require only that a parent or guardian open and manage the account until the minor reaches 18.

The exact age and requirements vary by bank. A child's first account is almost always a custodial account or minor account, which means the parent or guardian has legal control over the money and the account until the child reaches the age of majority (18 in most states, 19 in Alabama and Nebraska, 21 in Mississippi).

Once a minor reaches 18, they can open their own account without a parent or guardian present, though some banks may still require proof of identity and a Social Security number or Individual Taxpayer Identification Number (ITIN).

Key Takeaways

  • Most banks allow a parent or guardian to open a custodial account for a child as young as 13, though some have no stated minimum age.
  • A custodial account is jointly owned by the parent and child, and the parent controls the account until the child turns 18.
  • At 18, a minor can open their own account without a parent present, though they will need a government-issued ID and a Social Security number or ITIN.
  • Different banks have different rules — calling ahead or checking the bank's website saves a trip to the branch with the wrong documents.

What happens when a minor turns 18

When the minor reaches 18, the account does not automatically convert to a solo account. The parent or guardian must visit the bank with the now-adult account holder to remove the parent's name from the account, or the bank may require the young adult to open a new account in their name alone.

Some banks handle this transition automatically by sending a notice to both account holders before the 18th birthday, explaining the steps needed. Others do nothing unless the account holder or parent requests a change. It is worth asking the bank about this process when the account is first opened, so there are no surprises later.

Documents you will need to bring

The parent or guardian will need a government-issued photo ID (driver's license, passport, or state ID card) and proof of address, usually a recent utility bill or lease agreement. The minor may or may not need an ID — policies vary by bank. Some banks photograph the minor and keep that on file; others do not require ID for anyone under 18.

Both the parent and the minor will need a Social Security number or ITIN. If the minor does not have a Social Security number yet, the bank can usually still open the account, but you will need to provide one within a set time frame (often 30 days) or the account may be closed.

Bring the original documents, not copies. Banks will not accept photocopies of IDs or utility bills for account opening.

Differences between banks and account types

Large national banks like Chase, Bank of America, and Wells Fargo typically allow minors as young as 13 to open a custodial checking or savings account with a parent present. Credit unions often have similar policies, though the minimum age can be 16 or 18 depending on the credit union's bylaws.

Online banks have stricter rules. Most online-only banks do not offer custodial accounts at all and require the account holder to be 18. If you want to open an account for a younger child, you will need to use a traditional bank with physical branches.

Some banks offer teen checking accounts with limited features — no overdraft, no debit card, or a debit card with spending limits set by the parent. These accounts are designed to teach money management and usually have lower or no monthly fees.

What the parent or guardian can and cannot do

A parent or guardian on a custodial account can deposit and withdraw money, set up automatic transfers, and monitor spending. They can also close the account without the minor's permission while the minor is under 18.

The parent cannot use the account as their own personal account. Money in a custodial account is legally the child's money, even though the parent controls it. Using custodial funds for personal expenses can create tax and legal problems, and some banks will close the account if they discover this.

When the minor turns 18, the parent's authority over the account ends. At that point, the young adult can withdraw all the money, close the account, or remove the parent's name — the parent cannot prevent any of these actions.

Opening an account without a parent present

If a minor is 18 or older, they can open an account on their own. They will need a government-issued photo ID (driver's license, passport, or state ID) and a Social Security number or ITIN. Some banks may also ask for a second form of ID or proof of address.

If the 18-year-old does not have a government-issued ID yet, some banks will accept a school ID or passport card, though this varies. Call the bank ahead of time to ask what forms of ID they accept, because policies differ even within the same bank chain.

Frequently Asked Questions

Can a child open a bank account without a parent?

No, not until they turn 18. Anyone under 18 must have a parent or guardian on the account. At 18, they can open an account in their own name without a parent present.

What if the parent and child disagree about closing the account?

Until the child turns 18, the parent has legal authority over the account and can close it. Once the child turns 18, the parent cannot close the account without the now-adult account holder's permission. If you expect conflict, discuss account rules and expectations before opening it.

Do I need to open the account in person, or can I do it online?

For a custodial account, most banks require at least one person (usually the parent) to visit a branch in person to verify identity and sign paperwork. Some banks allow the minor to complete the process online after the parent has opened the account. Online-only banks typically do not offer custodial accounts.

What if the minor does not have a Social Security number yet?

The bank can usually open the account without one, but you will need to provide the number within 30 days. If you do not, the bank may freeze or close the account. If your child was born recently and you have not yet applied for a Social Security number, you can do so at your local Social Security office or online at ssa.gov.

Can a teenager have their own account separate from the parent's?

No. Until they turn 18, any account they open must have a parent or guardian as a joint owner. At 18, they can open a separate account in their name alone and remove the parent from any existing accounts.