What you need to open a minor's account

A parent or legal guardian must open the account in person at a bank or credit union branch. You cannot open a minor's account online, by phone, or through mail — the institution needs to see both the adult and the child together, and verify the adult's identity with a government-issued ID.

Bring the child's Social Security number (or Individual Taxpayer Identification Number if the child doesn't have a Social Security number), proof of the child's identity or birth certificate, and your own government-issued ID. Some banks also ask for a second form of ID or proof of address, so call the branch ahead to confirm what they need.

The account itself costs nothing to open. Most banks and credit unions offer youth or teen checking and savings accounts with no monthly fees, no minimum balance, and no overdraft charges — though the specific features vary by institution.

Key Takeaways

  • A parent or legal guardian must be present in person at a bank or credit union branch to open a minor's account; online and phone applications are not available.
  • Bring the child's Social Security number, proof of the child's identity (birth certificate or ID), and the adult's government-issued ID to the appointment.
  • Most youth accounts have no monthly fees, no minimum balance requirements, and no overdraft charges, though features differ between institutions.
  • The account is typically set up as a custodial account, meaning the parent or guardian has full access and control until the child reaches the age of majority (usually 18 or 21, depending on state and bank).
  • Some banks allow the child to use a debit card when ready; others require the child to be a certain age (often 13 or older) before issuing one.

Types of accounts available for minors

Most banks offer a custodial savings account, which is the simplest option. The parent or guardian controls all deposits and withdrawals, and the child can watch the balance grow. This account typically earns a small amount of interest, though rates are currently very low across most institutions.

A custodial checking account comes with a debit card and check-writing ability (though checks are rarely used by minors). The parent still controls the account, but the child can make purchases and withdrawals. Some banks pair this with a savings component so money can be moved between the two.

A joint account is less common for young children but may be offered for teenagers. Both the parent and child have equal access and can deposit or withdraw money. This is different from a custodial account because the child's name appears on the account as an owner, not just a user.

Credit unions often offer the same account types as banks, and sometimes with lower or no fees. If your family belongs to a credit union, check what they offer before visiting a bank.

What happens when the child turns 18 or 21

The age at which a custodial account converts to a regular account varies by state and by bank. Some states set it at 18; others at 21. The bank will notify you before the conversion happens, usually 30 to 60 days in advance.

When the account converts, the parent's access ends and the child becomes the sole owner. The child can then change the account type, add or remove features, set up online banking, and manage the account independently. The money in the account stays in the account — nothing is frozen or removed.

If you want to maintain oversight after the child turns 18, you can ask the child to add you as an authorized user on their account, but they have to agree and can remove you at any time. This is different from a custodial account, where you have automatic control.

Where to open an account: banks vs. credit unions

National banks (Chase, Bank of America, Wells Fargo, Citibank) have many branches, so finding a location near you is usually straightforward. They offer youth accounts with debit cards and online banking, though fees and features vary. Some require a minimum deposit to open.

Regional and local banks often have lower fees and more flexible requirements. They may not have as many branches, but if you live near one, they can be a good option.

Credit unions typically have lower fees and higher interest rates on savings accounts than banks. You must be a member to open an account, which usually means working for a specific employer, belonging to a certain organization, or living in a specific area. If you're already a member, a credit union is often the cheapest option.

Online banks (Ally, Charles Schwab, Discover) do not offer custodial accounts for minors, so they are not an option for this purpose.

Steps to take before you visit the branch

Call or visit the bank's website to confirm what documents you need and whether the branch offers youth accounts. Some smaller branches may not have them in stock, and you might need to visit a larger location or order the account materials in advance.

Ask whether the child can get a debit card when ready or if there is an age requirement. Some banks issue cards to children as young as 6; others wait until 13 or older.

Find out what the interest rate is on the savings portion, if any. Rates change frequently and vary widely — some accounts earn almost nothing, while others (usually at credit unions) offer slightly better rates.

Ask whether there are any restrictions on how much money can be deposited or withdrawn per month. Most youth accounts have no limits, but some do.

What to expect during the appointment

The appointment usually takes 15 to 30 minutes. The bank representative will ask for your ID and the child's information, explain the account features, and have you sign paperwork. You will receive account numbers, a debit card (if applicable), and instructions for online banking.

The account is typically active when ready, though the debit card may take 7 to 10 business days to arrive by mail. You can usually start depositing money and using online banking right away.

If the child is old enough to understand, the bank representative may explain the account to them directly. This is a good time for the child to ask questions about how the account works.

Common reasons an process might be declined

Banks rarely decline a minor's account process, but it can happen. The most common reason is that the parent or guardian does not have a valid government-issued ID or cannot verify their identity. If this is the case, ask what documents the bank will accept instead.

If the parent has a history of fraud or unpaid debts with that specific bank, the bank may decline. This is rare but possible. If declined, you can try a different bank or credit union.

If the child's Social Security number cannot be verified, the bank may ask for an Individual Taxpayer Identification Number instead, or may require additional documentation. This is not a reason to decline, but it may delay the process.

Frequently Asked Questions

Can a minor open a bank account without a parent or guardian?

No. A parent or legal guardian must be present in person and sign all paperwork. If the child is in foster care or has a court-appointed guardian, that person must be present instead of a biological parent.

What if the parent doesn't have a government-issued ID?

Call the bank ahead of time and ask what alternative documents they will accept. Some banks accept a passport, military ID, or state ID card. If you don't have any of these, you may need to visit a different bank or credit union that has different requirements.

Can the child use the account to receive direct deposit from a job?

Yes. Once the account is open, the child can provide the account and routing numbers to an employer for direct deposit. The money will appear in the account within one to two business days of payday.

What happens if the child loses the debit card?

Call the bank when ready and report it lost or stolen. The bank will cancel the card and issue a replacement, which usually arrives within 7 to 10 business days. In the meantime, the child can withdraw cash at an ATM or in person at a branch using the account number.

Can I set spending limits on the child's debit card?

Some banks allow parents to set daily spending limits or transaction limits through their online banking portal. Not all banks offer this feature, so ask when you open the account. If the bank doesn't offer it, you can manage spending by controlling how much money you deposit into the account.