Most banks let minors open accounts at any age, but the parent or guardian must be on the account

A minor can open a bank account at virtually any age — some banks accept newborns, others set the floor at age 13. The catch is that until your child reaches the age of majority in your state (usually 18, sometimes 19 or 21), a parent or legal guardian must be a joint account holder. You cannot straightforward hand a five-year-old a debit card and walk away. The adult on the account is legally responsible for the money and the account activity.

The specific age rules depend on the bank or credit union. Some institutions have no minimum age and will open an account for an infant if a parent brings the required documents. Others require the child to be at least 13. A few banks have different rules for different account types — they might let a younger child have a savings account but require age 13 for a checking account with a debit card. Call your bank directly or check their website to find out their specific policy before you visit a branch.

Key Takeaways

  • Most banks allow minors to open accounts at any age, but a parent or guardian must be a joint account holder until the child reaches the age of majority.
  • The age of majority is 18 in most states, but some states set it at 19 or 21, which determines when your child can own an account alone.
  • You will need the child's Social Security number, proof of identity for both the child and the parent, and proof of address to open an account.
  • Some banks offer teen checking accounts with limited debit card features or spending caps, while others treat minor accounts the same as adult accounts.
  • Once your child reaches the age of majority, they can remove the parent from the account or open a new account in their name alone.

What documents you need to bring

To open an account for a minor, bring the child's Social Security number and a form of ID — usually a birth certificate or passport. The parent or guardian will also need to show a photo ID (driver's license, passport, or state ID) and proof of current address, such as a utility bill or lease agreement dated within the last 60 days. Some banks accept a bank statement or government mail as proof of address instead.

If the child does not yet have a Social Security number, you can explore for one at your local Social Security office or online at ssa.gov. The process takes about two weeks. Some banks will let you open the account without the number if you provide it within 30 days, but this varies by institution. Call ahead to confirm what your bank will accept.

The difference between joint accounts and custodial accounts

Most banks open a joint account for a minor, meaning both the parent and child are listed as owners with equal rights. The parent can deposit, withdraw, and manage the account. The child's name is on the account, and they can use the debit card (if the bank issues one). When the child reaches the age of majority, they can keep the account as-is or remove the parent.

Some banks and credit unions offer custodial accounts instead, which are legally distinct. In a custodial account, the parent holds the money in trust for the child until a specific age — often 18 or 21, depending on state law and the account terms. The parent controls the account until that date, and the child does not have direct access. Custodial accounts are less common at retail banks but are standard at some credit unions and investment firms. Ask your bank which type they offer.

When your child can have their own debit card

Most banks issue a debit card to a minor on a joint account once the child is old enough to use one responsibly — typically around age 13, though some banks have no minimum age. The card is linked to the joint account, and the parent can see all transactions. Some banks let you set spending limits or restrict where the card can be used (online only, in-store only, no ATM withdrawals).

A few banks offer teen checking accounts with built-in restrictions: lower daily spending limits, no overdraft protection, or the ability to turn the card off remotely through a mobile app. These accounts are designed to let teenagers learn money management with guardrails. If your bank does not offer a teen account, you can ask whether they allow you to set custom limits on a standard debit card.

What happens when your child turns 18

At age 18 (or 19 or 21, depending on your state), your child becomes a legal adult and can own a bank account without a parent. If you have a joint account, your child can remove you from it, keep it as-is with you still on it, or open a new account in their name alone. The bank will not automatically remove you — your child has to request it.

If you want to step back when your child reaches the age of majority, tell them in advance so they understand what is happening. Some parents keep a joint account open for convenience or to help monitor spending, while others close it and let their child manage independently. There is no legal requirement either way once your child is an adult.

Banks and credit unions with low or no minimum age requirements

Most major banks accept minors at any age on a joint account with a parent. Credit unions often have similar policies. Some institutions known for youth-friendly accounts include Ally Bank, Charles Schwab, Fidelity, and many local credit unions, though policies change and vary by location. Rather than rely on a list, contact the bank or credit union you use or want to use and ask directly: "What is the minimum age to open an account for a minor?"

If you are opening an account specifically to teach your child about money, look for banks that offer features like spending limits, transaction alerts, or the ability to pause the debit card. Some online banks have these tools built in; others do not. A credit union near you may also have youth savings programs or financial literacy resources for families.

Frequently Asked Questions

Can a minor open a bank account without a parent?

No. Until a minor reaches the age of majority (18 in most states), a parent or legal guardian must be on the account. Some banks may allow a minor to have a savings account in their name alone if a parent has opened it for them, but the parent retains legal control until the child is an adult.

What is the age of majority in my state?

The age of majority is 18 in most states. However, Alabama, Nebraska, and Wyoming set it at 19, and Mississippi sets it at 21. Check your state's laws or ask your bank what age they recognize as the point at which a minor can own an account without a parent.

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

Many banks allow you to set daily spending limits, restrict card use to certain types of merchants, or turn the card off remotely through their mobile app. Not all banks offer this feature on standard accounts, but teen checking accounts often include it. Ask your bank what controls are available before you open the account.

What happens to the account if the parent dies?

If a parent on a joint account dies, the account typically passes to the minor child, though the exact process depends on state law and the bank's policies. The child may need a new guardian to manage the account until they reach the age of majority. Contact your bank when ready if this happens so they can guide you through their process.

Can my teenager remove me from the account once they turn 18?

Yes. Once your child reaches the age of majority, they can request that the bank remove you from the account. You cannot prevent this. If you want to stay involved in their finances, discuss it with them beforehand so they understand your reasons and can make an informed choice.