Yes, but a parent or guardian must open it with them
A child under 18 cannot open a checking account alone. Banks require a parent or legal guardian to co-own the account, sign the paperwork, and take responsibility for it. The account belongs to both of you until the child turns 18, at which point they can convert it to an account in their name only or keep the joint arrangement.
Most banks and credit unions offer accounts specifically designed for minors. These accounts work like regular checking accounts — the child gets a debit card, can make deposits and withdrawals, and learns to manage money — but with parental oversight built in. The parent can see all transactions and set spending limits or restrictions depending on the bank's tools.
The age at which a child can open an account varies by bank. Some allow accounts for children as young as 6 or 7; others require the child to be at least 13. A few banks have no minimum age if a parent opens it. Check with your bank directly, because their policies differ.
Key Takeaways
- A parent or legal guardian must co-own the account and sign all paperwork; the child cannot open one independently.
- Most banks offer youth or teen checking accounts with features like parental controls, spending limits, and debit cards.
- Minimum age requirements range from 6 to 13 depending on the bank, so you will need to ask your specific bank what it allows.
- The account converts to the child's name alone when they turn 18, though some banks let you keep it joint if you both agree.
- Opening an account teaches money management and gives the child a way to receive paychecks or allowance directly.
What you need to bring to open the account
Bring your government-issued photo ID and the child's birth certificate or Social Security card. Some banks also ask for proof of address, such as a recent utility bill or lease in your name. Call ahead to confirm what your bank requires — requirements vary.
The child should come with you to the bank if possible. Many banks want to see the child in person, especially for accounts with a debit card. If the child is very young, some banks will let you open the account with just your ID and the child's documents, but you should verify this beforehand.
You will need to provide your Social Security number and the child's Social Security number. The bank will run a background check on you (the parent) as part of opening any account. This is standard and does not affect your credit score.
Debit cards, spending limits, and parental controls
Most youth checking accounts come with a debit card in the child's name. The card works at ATMs and stores just like an adult's card. Some banks allow you to set a daily spending limit — for example, $50 per day — so the child cannot overspend. Others let you turn the card on or off from a mobile app if you need to pause it temporarily.
Parental controls vary widely. Some banks send you a text or email alert every time the child makes a purchase. Others let you review transactions only when you log into your account. A few allow you to restrict what types of purchases the card can make — for instance, blocking online purchases or gas station transactions. Ask your bank what controls it offers before you open the account.
The child can also make withdrawals at the bank's ATMs and deposit checks or cash at the branch. Some banks allow mobile check deposit through an app, which is convenient if the child receives a paycheck or birthday money.
When the account converts to the child's name alone
At age 18, the account automatically converts to the child's name in most cases, and you are removed as a co-owner. The child keeps the same account number and debit card, so there is no disruption. However, some banks require you to visit the branch together to complete the conversion, while others handle it automatically.
Before the child turns 18, ask your bank what happens at that age. Some banks let you keep the account joint if you both want to, which can be useful if you are still helping manage finances. Others require the conversion to happen. Knowing the bank's policy in advance prevents surprises.
If the child wants to close the account after turning 18, they can do so without your permission. They can also open accounts at other banks on their own once they reach 18.
Differences between banks and credit unions
Large national banks like Chase, Bank of America, and Wells Fargo all offer youth checking accounts, though the features and minimum ages differ. Chase allows accounts for children 6 and up; Bank of America requires 13. Credit unions often have lower fees and more flexible policies, and many allow younger children to open accounts.
Online banks like Ally and Discover generally do not offer accounts for minors because they have no physical branches where you can verify identity in person. Stick with banks or credit unions that have local branches if you want to open an account for a young child.
Compare the monthly fee (many youth accounts have no fee), the minimum balance required, the debit card features, and the parental controls available. Some banks waive fees if you set up direct deposit of the child's paycheck or allowance, which is worth asking about.
Teaching money management through a checking account
A checking account gives a child a real place to deposit money and practice spending decisions. If the child receives an allowance, a paycheck from a part-time job, or birthday money, depositing it into the account teaches the difference between having money and spending it. The debit card makes the spending visible and immediate in a way cash does not.
Use the account as a teaching tool. Review transactions together each month. Discuss why certain purchases were good choices and others were not. Set a spending limit and let the child learn what happens when they approach it. This hands-on experience builds financial habits before the child is managing money entirely alone.
Some banks offer financial literacy resources for teens, such as videos or articles about budgeting and saving. Ask your bank whether it has these tools available.
What happens if the child overspends or the account goes negative
If the child tries to spend more than the account balance, the transaction will be declined at the point of sale — the card simply will not work. This is different from adult accounts, which may allow overdrafts and charge a fee. Most youth accounts do not permit overdrafts, so the child cannot spend money they do not have.
If a deposit fails to clear or a hold is placed on funds, the account balance may temporarily show less money than expected. Explain to the child that this is normal and that the money will be available once the hold lifts, usually within one to three business days.
If you notice unauthorized transactions or suspect fraud, contact the bank immediately. The child's debit card has the same fraud protections as an adult card, so unauthorized charges can usually be disputed and reversed.
Frequently Asked Questions
Can my child have their own account without me as a co-owner?
No. Banks require a parent or legal guardian to co-own any account for a minor under 18. Once the child turns 18, they can open accounts in their name alone. Some banks allow you to remain a co-owner after age 18 if you both agree, but it is no longer required.
Will opening a checking account affect my child's credit score?
No. Opening a checking account does not build or damage credit. Credit scores are based on borrowing and repayment history, not on deposit accounts. The child will not have a credit score until they borrow money or use a credit card.
What if my child loses the debit card?
Call the bank immediately to report it lost or stolen. The bank will cancel the card and issue a replacement, usually within 7 to 10 business days. Most banks do not charge a fee for a replacement card. In the meantime, the child can still withdraw cash at the bank's ATMs or visit a branch.
Can my child use the account to receive paychecks from a job?
Yes. If the child has a part-time job, the employer can set up direct deposit to the checking account. This is faster and safer than receiving a paper paycheck. The child will need to provide the employer with the account number and routing number, which are printed on checks or available through the bank's app.
What if I want to close the account before the child turns 18?
You can close the account at any time as a co-owner. Visit the bank branch or call customer service. Any remaining balance will be returned to you, usually by check or transfer to another account. The child cannot prevent you from closing it while they are a minor, since you are the co-owner.