Yes, minors can open bank accounts, but they need a parent or guardian to co-own it
A minor cannot open a bank account alone. Every bank and credit union requires a parent or legal guardian to be a joint account holder on any account opened for someone under 18. The adult is responsible for the account and can see all transactions, balances, and activity. Some banks allow the minor's name to appear on statements and debit cards; others keep the account in the parent's name only with the minor as an authorized user.
The specific rules depend on the bank or credit union. Some institutions have dedicated teen or student accounts with features designed for younger users—lower or no monthly fees, limited overdraft options, and parental controls. Others treat a minor's account the same as any joint account. You'll need to visit a branch or go online with the parent or guardian present to open the account.
Key Takeaways
- A parent or legal guardian must be present and co-own the account; minors cannot open accounts independently.
- Most banks require the adult to bring a government-issued ID, proof of address, and the minor's Social Security number or birth certificate.
- Teen and student accounts often have lower fees and parental controls, but not all banks offer them.
- The minor can usually get a debit card and access online banking, but the parent retains full account control and visibility.
- Once the minor turns 18, they can convert the account to their own name or open a separate account without a co-owner.
What documents you need to bring
The parent or guardian will need to bring a government-issued photo ID (driver's license, passport, or state ID) and proof of current address, usually a recent utility bill, lease, or mortgage statement. The bank will also ask for the minor's Social Security number or, if the minor doesn't have one yet, a birth certificate.
Some banks ask for additional information depending on how the account will be used. If the minor will be receiving direct deposits from an employer or school, the bank may ask for documentation of that income. If the account is being opened for a specific purpose—such as a college savings account—the bank may have slightly different requirements, but the core documents remain the same.
How to open the account in person or online
Most banks require at least one visit to a branch with both the parent and minor present. During that visit, the adult will complete the account application, provide ID and proof of address, and sign the account agreement. The minor may also be asked to sign certain documents. The bank will verify the information, run a background check on the adult, and usually activate the account the same day or within one business day.
Some banks now allow online account opening for minors if the parent has an existing account at that bank. In those cases, the parent can start the application online, and the minor may need to verify their identity through a video call or by visiting a branch later. If you're opening an account at a bank where the parent has no existing relationship, an in-person visit is almost always required.
Debit cards, online access, and what the minor can do
Once the account is open, the minor can usually request a debit card in their own name. The card works like any other debit card—it draws from the account balance and can be used at ATMs, stores, and online. The parent can see every transaction the minor makes because both names are on the account or the parent is the primary account holder.
Most banks also give minors access to online banking and mobile apps so they can check their balance, view transactions, and transfer money between accounts (if the account allows it). Some banks let parents set spending limits or turn off certain features like online transfers or ATM withdrawals. These parental controls vary by bank and by account type, so ask about them when you open the account if monitoring spending is important to you.
Teen and student accounts: features and fees
Many banks offer accounts specifically designed for teenagers or college students. These accounts often have no monthly maintenance fee, no minimum balance requirement, and no overdraft fees—the bank simply declines the transaction if there's not enough money. Some also include perks like fee-free ATM access at a network of banks or reimbursement for out-of-network ATM fees.
Not all banks offer teen accounts, and the features vary widely. A teen account at one bank might include parental controls and spending alerts, while another bank's teen account is simply a regular checking account with no fees. Compare what's available at banks in your area or at online banks you're considering. Ask specifically whether the account converts automatically to a regular adult account when the minor turns 18, or whether you'll need to take action to change it.
What happens when the minor turns 18
At age 18, the minor becomes a legal adult and can own the account in their own name alone. The parent or guardian can be removed from the account if both parties agree. Some banks automatically send a notice around the time the account holder turns 18 asking whether they want to convert the account or open a new one. Others do nothing unless you ask.
If the minor wants to keep the account and remove the parent, they can usually do this online or by visiting a branch with their ID. If they want to open a completely separate account at a different bank, they can do that too. There's no penalty for removing a co-owner or closing a joint account, though the bank may ask why. The minor's transaction history and credit-building activity (if the account was linked to a credit card or reported to credit bureaus) stays with them.
Savings accounts versus checking accounts for minors
A minor can open either a savings account or a checking account, or both. A savings account is useful if the goal is to build a habit of saving money—it usually earns a small amount of interest, though rates vary. A checking account with a debit card is more practical if the minor needs to spend money regularly, such as for school lunches, entertainment, or part-time job earnings.
Some parents open a savings account first to teach saving, then add a checking account later when the minor gets a job or needs to make regular purchases. Others combine both in one account—a checking account that also earns interest. Ask the bank what options are available and what interest rates they offer on savings, since rates change frequently and vary by bank.
Frequently Asked Questions
Can a minor open a bank account without a parent present?
No. Every bank requires a parent or legal guardian to be present and to co-own or authorize the account. A minor cannot open an account alone, even with a Social Security number and ID.
What if the minor doesn't have a Social Security number yet?
You can use the minor's birth certificate instead. The bank will ask for one or the other. If you're planning to open the account soon after birth, a birth certificate is often easier to obtain than waiting for a Social Security number to arrive in the mail.
Can a minor have their own debit card?
Yes. Most banks issue a debit card in the minor's name even though the parent is a co-owner. The card draws from the joint account, and the parent can see all transactions. Some banks allow the parent to set spending limits or disable certain features on the card.
Do minors' bank accounts affect their credit score?
Checking and savings accounts do not appear on a credit report and do not affect credit score. If the account is linked to a credit card or the bank reports account activity to credit bureaus, that information may be recorded, but a basic checking or savings account alone has no credit impact.
Can a minor close their own bank account?
It depends on the bank's policy. Some banks allow the minor to close the account online or by phone if they're old enough. Others require the parent or both parties to be present. Call the bank or visit a branch to ask about their specific rules before the minor tries to close the account.