Yes, minors can open a checking account in Illinois, but a parent or guardian must be on the account
A minor under 18 in Illinois cannot open a checking account alone. Banks require a parent or legal guardian to co-own the account, appear in person at the bank, and sign all paperwork. The adult on the account has full access to the money and can make deposits, withdrawals, and transfers without the minor's permission.
Most Illinois banks offer accounts specifically designed for minors, often called teen checking or youth accounts. These accounts work like regular checking accounts—they come with a debit card, online banking, and the ability to write checks—but with the parent or guardian as the primary account holder.
The rules are the same across Illinois regardless of which bank you choose. State law does not override federal banking requirements, and federal law requires an adult to be responsible for any account held by someone under 18.
Key Takeaways
- A parent or legal guardian must open the account with the minor and remain on it as a co-owner.
- Most Illinois banks offer youth checking accounts with debit cards and online access, designed for teenagers.
- The adult on the account has full legal control and can access all funds without the minor's consent.
- You will need a Social Security number, proof of identity for both the minor and the adult, and proof of address to open an account.
- Some banks set minimum age requirements (often 13 or older) before a minor can have a debit card on the account.
What documents you need to bring to the bank
Both the minor and the parent or guardian must appear in person at the bank branch. Bring a government-issued photo ID for the adult—a driver's license or passport works. For the minor, a school ID, state ID, or passport is acceptable if the bank will take it; some banks only require the adult's ID and the minor's Social Security number.
You will also need proof of address for the household, such as a recent utility bill, lease, or mortgage statement. The bank will ask for the minor's Social Security number. If you do not have one yet, you can apply for one at your local Social Security office before opening the account, though some banks may allow you to open the account and add the number later.
Bring any existing bank statements or account numbers if the minor already has a savings account elsewhere. This speeds up the process and helps the bank link accounts if you want them connected.
Age limits and when minors can get a debit card
Illinois has no statewide minimum age for a minor to have a checking account. However, individual banks set their own rules. Most major banks in Illinois—including Chase, Bank of America, and Fifth Third—allow accounts for minors as young as 13, though some accept younger children if a parent opens the account.
Debit cards are often restricted to a higher age. Many banks will not issue a debit card to anyone under 13, even if the account itself is open. If the minor is younger than the bank's debit card age, the account can still receive direct deposits and transfers, but withdrawals must happen at a teller window or through the parent's online banking.
Once the minor turns 18, they can take full control of the account and remove the parent as a co-owner. Some banks do this automatically; others require the young adult to visit the branch and sign new paperwork.
How parental controls work on youth accounts
The parent or guardian on the account has complete access to all transactions, balances, and activity. They can see every deposit and withdrawal the minor makes. Many banks offer online tools that let parents set spending limits on the debit card, block certain types of transactions, or turn the card on and off remotely.
The minor typically cannot remove the parent from the account or close it without the parent's permission. Some banks allow the minor to set a PIN for their debit card, but the parent can still override it or reset it through online banking. The parent can also freeze the account or cancel the debit card at any time.
These controls are designed to teach financial responsibility while keeping the parent informed. However, they also mean the minor has no privacy regarding money in the account. If privacy is a concern, the minor can ask the parent to remove parental controls once they reach a certain age, though the parent remains a co-owner until the minor turns 18.
Fees and minimum balance requirements
Youth checking accounts in Illinois often have lower or no monthly maintenance fees compared to adult accounts. Many banks waive fees entirely for accounts held by minors, as long as the account stays open and active. However, some banks charge a small monthly fee even for youth accounts, typically between $2 and $5.
Minimum balance requirements vary by bank. Some youth accounts have no minimum; others require $25 to $100 to keep the account open without fees. If the balance drops below the minimum, the bank may charge a fee or close the account. Check with your specific bank about their policy before opening the account.
Overdraft fees apply to youth accounts just as they do to adult accounts. If the minor spends more than the balance, the bank may charge an overdraft fee (usually $25 to $35 per transaction) or decline the transaction. Some banks offer overdraft protection, which links the checking account to a savings account and transfers money automatically if the checking account runs short.
Banks in Illinois that offer youth checking accounts
Major national banks operating in Illinois all offer youth checking accounts. Chase offers Chase First Banking for ages 6 and up, with a debit card available at age 13. Bank of America has a similar program called BankAmericard for Students. Fifth Third Bank, Wintrust Financial, and MB Financial all have youth account options.
Credit unions in Illinois also offer youth accounts, often with lower fees and more flexible rules than large banks. The Illinois Credit Union League can help you find a credit union near you. Local and regional banks may have their own youth programs with different features and age requirements.
Compare accounts based on monthly fees, minimum balance, debit card age, parental control features, and whether the bank has branches near your home or school. Some accounts offer perks like cashback rewards or interest on savings, though youth accounts typically earn very little interest.
What happens when the minor turns 18
Once the minor reaches 18, they become a legal adult and can take control of the account. The parent does not automatically lose access; instead, the young adult must visit the bank and request that the parent be removed as a co-owner. Some banks allow this to happen online; others require an in-person visit.
Until the young adult formally removes the parent, the parent remains a co-owner with full access to the account. The bank will not remove the parent automatically on the minor's birthday. If the young adult wants privacy, they should contact the bank and complete the paperwork to change the account to their name only.
At this point, the young adult can also open additional accounts, apply for a credit card, or change banks if they wish. The original youth account can stay open or be closed and replaced with a standard adult checking account.
Frequently Asked Questions
Can a minor open a checking account without a parent present?
No. Illinois banks require a parent or legal guardian to appear in person and co-sign all paperwork. Some banks may allow the parent to open the account remotely through video verification, but the minor cannot open an account alone at any age under 18.
What if the minor's parents are divorced or separated?
Either parent can open the account with the minor, but only one parent needs to be present. If there is a custody order that restricts one parent's access to the child's finances, bring a copy of that order to the bank so they can note it in the account records.
Can a minor have a checking account if they do not have a Social Security number yet?
Most banks require a Social Security number to open an account. However, some banks will open the account and allow you to add the number within 30 days. Call your bank before visiting to confirm their policy. You can apply for a Social Security number at your local Social Security office.
What if the parent wants to give the minor access to money without being on the account?
The parent can open a separate savings account in the minor's name with themselves as custodian, or simply give the minor cash or a prepaid card. However, a checking account requires the parent to be a co-owner under Illinois and federal banking law.
Can a minor have multiple checking accounts at different banks?
Yes. A minor can have accounts at multiple banks as long as a parent or guardian is a co-owner on each one. There is no legal limit to the number of accounts, though having too many can make it harder to track spending and manage fees.