Yes, but most banks require a parent or guardian to co-own the account
You can open a bank account at 15, but you will not own it alone. Nearly every bank requires a parent or guardian to be a joint account holder until you turn 18. The account sits in both your names, and the adult has full access to the money and transaction history. Some banks lower the age requirement to 13 with a parent present; a few allow accounts at even younger ages. The rules depend on the bank's own policy, not on state law.
A few banks and credit unions offer teen-specific accounts designed for this exact situation. These accounts often come with debit cards, online banking, and spending limits you and your parent can set together. They are not savings accounts that earn interest—most pay little to nothing. They are checking accounts meant to teach you how money moves and let you practice managing it while someone else watches.
If you want an account without a parent involved, you will have to wait until you turn 18. At that point, you can walk into a bank alone, show an ID, and open an account in your name only.
Key Takeaways
- Most banks allow you to open a joint account at 15 if a parent or guardian co-signs and becomes a joint owner.
- Teen accounts often come with debit cards and spending controls, but rarely earn interest on savings.
- Your parent will have full access to the account, including the ability to see all transactions and withdraw money.
- You can open an account in your name alone once you turn 18, without anyone else's permission or involvement.
- Credit unions sometimes have lower age requirements or different rules than traditional banks, so it is worth asking your local credit union.
What you need to bring to open a joint account
Bring two forms of ID: one for you and one for your parent. A school ID or state ID works for you. Your parent will need a driver's license or passport. The bank will also ask for proof of address—a utility bill, lease, or mortgage statement in your parent's name, dated within the last 60 days.
Some banks ask for a Social Security number at the time you open the account. If you do not have one, you can still open an account in most places, but the bank will ask you to provide it later. Bring your number if you have it; it speeds up the process.
You do not need to bring money to open the account, though many banks require a small opening deposit—often $25 to $100. A few waive this if you set up direct deposit, like a paycheck or allowance transfer.
How much control you actually have
You can use the debit card and make purchases, but your parent sees every transaction. They can also withdraw money, freeze the card, or close the account without asking you first. This is not a privacy issue from the bank's perspective—your parent is the legal owner alongside you.
Some teen accounts let you and your parent set spending limits together. You might agree that you can spend up to $50 per day, or that certain types of purchases (like online shopping) require approval. These limits are optional and depend on the bank. Not all teen accounts offer them.
You will have access to online banking and a mobile app, just like an adult account. You can check your balance, see your transaction history, and set up bill pay. Anything you do in the app, your parent can also see.
Interest rates and fees on teen accounts
Teen checking accounts do not earn interest. The bank holds your money but pays you nothing for keeping it there. If you want to save money and earn interest, you would need a separate savings account—and even then, interest rates at most banks are very low, usually under 0.5% per year.
Most teen accounts have no monthly fee, which is their main advantage. Adult checking accounts often charge $10 to $15 per month if you do not meet certain requirements (like keeping a minimum balance or setting up direct deposit). Teen accounts skip this entirely.
You may face fees if you overdraft—spend more than you have in the account. Overdraft fees range from $25 to $35 per transaction at most banks. Some banks let you opt out of overdraft protection, which means transactions will simply be declined if you do not have enough money. Ask about this when you open the account.
Banks and credit unions that allow accounts at 15
Chase, Bank of America, Wells Fargo, and Citibank all allow joint teen accounts with a parent present. Chase calls theirs a "Chase First Banking" account; Bank of America offers "Student Banking." The specifics vary—some require a minimum opening deposit, others do not; some offer debit cards immediately, others mail them later.
Credit unions often have lower age requirements and more flexible rules. Many allow accounts at 13 or younger with a parent. If you belong to a credit union through your parent's employer or your school, ask whether they have a teen account option. Credit unions are not required to follow the same rules as national banks, so policies vary widely by location.
Online banks like Ally, Charles Schwab, and Discover do not typically offer teen accounts. They require you to be 18 to open an account in your name alone. If you want to bank online at 15, you would need to use a traditional bank's teen account or a credit union.
What happens to the account when you turn 18
The account does not automatically close or change. You and your parent remain joint owners unless one of you removes the other. Many people keep the joint account open even after turning 18—it is convenient, and your parent may want to keep an eye on your spending.
If you want the account to be yours alone, you can ask your parent to remove themselves as a joint owner. The bank will process this, and you become the sole owner. Your parent will no longer see transactions or have access to the money. This is a conversation to have with your parent, not something the bank will force.
Alternatively, you can open a new account in your name alone at 18 and transfer your money there. You can close the joint account afterward, or leave it open if your parent wants to keep it for their own reasons.
Frequently Asked Questions
Can I open a bank account at 15 without a parent?
No. Every major bank requires a parent or legal guardian to be a joint owner if you are under 18. You cannot open an account in your name alone until you turn 18. Some banks may make exceptions for emancipated minors, but this is rare and requires legal documentation.
Will my parent be able to see my purchases?
Yes. Your parent has full access to the account, including transaction history. They can see what you bought, where, and when. If privacy is a concern, this is something to discuss with your parent before opening the account.
What if I want to save money and earn interest?
Teen checking accounts do not earn interest. You would need a separate savings account, which also requires a parent to co-own at 15. Interest rates at most banks are very low—usually under 0.5% per year—so the difference is small unless you are saving a large amount.
Can I get a credit card at 15?
No. Credit cards require you to be 18 and have a credit history. At 15, a debit card is your only option. A debit card draws from money already in your account, so you cannot spend more than you have. A credit card lets you borrow money and pay it back later, which is why banks require you to be older.
What if my parent closes the account without telling me?
They can do this because they are a joint owner. The bank will not stop them. If this happens, any money in the account goes to your parent (since they are also an owner). This is why trust between you and your parent matters when you share an account.