Most banks require a parent or guardian to open an account for anyone under 18

A minor cannot walk into a bank alone and open a checking or savings account in all 50 states. Banks are required by federal law to verify the identity of account holders, and minors cannot legally sign binding contracts on their own. This means a parent, legal guardian, or sometimes a grandparent must be present and sign the paperwork.

The adult who opens the account with you becomes a joint account holder. They have full access to the account, can see all transactions, and can withdraw money. Some banks let you set up a custodial account instead, where the adult is the custodian but you are the named account owner — though the adult still controls the money until you reach the age of majority (18 or 21, depending on your state).

A few banks and online services have created accounts specifically for teens that require less parental involvement, but even these typically need a parent to verify their identity and approve the account setup. No mainstream bank lets a minor under 16 open an account completely alone.

Key Takeaways

  • Federal law requires banks to verify the identity of all account holders, which means a parent or guardian must be present when a minor opens an account.
  • The adult who opens the account with you becomes a joint holder and has full access unless the bank offers a custodial account structure.
  • Some banks offer teen accounts that give you more independence but still require parental approval and identity verification.
  • Online banks and fintech services sometimes have lower age requirements than traditional banks, but you still cannot open an account without an adult.
  • Once you turn 18, you can open your own account without parental permission, though some banks may still require proof of income or a minimum deposit.

What happens when you open an account with a parent

When you and a parent go to the bank together, the bank will ask for identification from both of you. The parent will need a government-issued ID like a driver's license or passport. You will need to bring a birth certificate, school ID, or state ID if you have one. The bank will also ask for your Social Security number.

The parent signs the account agreement, which makes them legally responsible for the account. They can see your balance, your transactions, and any fees. If the account goes negative, the bank can pursue the parent for payment. On the flip side, the parent can deposit money into your account and help you manage it.

Some banks let you set limits on what you can withdraw or spend per day, even though the parent is a joint holder. This gives you some independence while keeping the parent informed. Ask the bank whether they offer this feature before you open the account.

Custodial accounts versus joint accounts

A custodial account is different from a joint account in one key way: you are the legal owner, and the adult is the custodian. The custodian manages the money on your behalf until you reach the age of majority. At that point, the account becomes yours completely, and the custodian's authority ends.

A joint account means both you and the adult are owners. The adult can withdraw money, close the account, or make changes without your permission. When you turn 18, the account is still joint unless one of you removes the other.

Custodial accounts are often used for savings or money set aside for college. Joint accounts are more common for everyday checking accounts where a parent wants to monitor spending. Not all banks offer both options, so ask what the bank has before you decide.

Teen accounts and online banks with lower age requirements

Some banks have created accounts designed for teenagers that offer more independence than a traditional joint account. Banks like Ally, Greenlight, and Chime offer accounts where you can have your own debit card and make purchases, but a parent still has to set up the account and approve it.

These accounts often come with features like spending limits, purchase notifications sent to the parent, and the ability to turn the card on or off. Some let you set savings goals and earn small amounts of interest. The parent still controls the account until you turn 18, but you get more day-to-day control than you would with a traditional joint account.

Online banks sometimes have lower minimum deposits or no monthly fees, which makes them cheaper than brick-and-mortar banks. However, you still cannot open one without a parent or guardian providing their identity and approval. The process is usually faster online — sometimes just 10 to 15 minutes — but the parental requirement does not go away.

What you need to bring to open an account

Bring your Social Security number (or a tax ID if you do not have one), proof of identity, and your parent or guardian. Proof of identity can be a birth certificate, school ID, passport, or state ID. Some banks will also ask for proof of address, like a utility bill or lease in the parent's name.

If you are opening the account online, you will need to upload photos of these documents. The bank will verify them electronically, and the parent will need to verify their identity too — usually by uploading their ID and sometimes by answering security questions or taking a video call.

Call the bank or check their website before you go in or start an online application. Different banks ask for different documents, and some have specific requirements for minors. Having everything ready speeds up the process.

What happens when you turn 18

When you turn 18, you become a legal adult and can open your own account without a parent's permission. However, if you already have a joint account with a parent, that account does not automatically change. You and the parent can leave it as is, or one of you can ask the bank to remove the other person from the account.

If you want to open a new account in your name alone after you turn 18, you will need your Social Security number, a government-issued ID, and proof of address. Most banks will open the account on the spot. Some banks require a minimum deposit or proof of income, but many do not.

If you have been building a relationship with a bank since you were young, they may offer you better rates or waive fees when you transition to an adult account. It is worth asking what they have available.

Frequently Asked Questions

Can I open a bank account if my parents refuse?

No. Federal law requires a parent or legal guardian to open an account for anyone under 18. If your parents refuse, you could ask a grandparent, aunt, uncle, or other legal guardian to open one with you instead. Some states allow emancipated minors to open accounts alone, but emancipation is a legal process that requires a court order.

Can I open an account with just one parent if my parents are divorced?

Yes. Either parent can open an account with you unless a custody order specifically forbids it. The bank will not ask which parent has custody — they just need one parent or guardian to sign. If there is a custody dispute, the bank may ask for documentation, but this is rare.

What if I want to hide the account from my parents?

You cannot open a bank account without a parent's knowledge if you are under 18, because a parent must be present to sign. However, once you turn 18, you can open accounts that your parents do not know about. If you are under 18 and want financial independence, talk to your parent about opening a teen account where you have your own card and some control over spending.

Do I need a Social Security number to open an account?

Yes, most banks require a Social Security number. If you do not have one, you can apply for one through the Social Security Administration. The process takes a few weeks. Some banks will accept an Individual Taxpayer Identification Number (ITIN) if you do not have a Social Security number, but this is less common.

Can I open an account online without going to a bank branch?

Yes, many banks let you open an account online. Your parent will need to verify their identity by uploading their ID and sometimes by taking a video call. You will upload your documents too. The whole process usually takes 10 to 15 minutes, but the parental requirement is the same as in a branch.