What a minor can withdraw depends on the account type and the bank's rules
A minor can usually withdraw money from a custodial or teen account, but the exact process varies by bank and by age. Some banks let minors withdraw at ATMs and in branches starting at age 13 or 14. Others require a parent or guardian to be present for any withdrawal until the minor turns 18. A few banks don't allow independent withdrawals until age 16 or 17. The account paperwork you signed when opening the account should spell out what your minor can do — if you don't have it, call the bank and ask what withdrawal options come with your specific account type.
If the account is a custodial account (held in the minor's name but controlled by a parent or guardian), the minor's withdrawal rights depend entirely on what the bank permits and what the account agreement says. If it's a teen checking account, the bank has built in specific rules about ATM use, branch withdrawals, and whether a parent signature is needed. The key difference is that a custodial account is legally the minor's money, while a teen account is often designed with parental oversight built in.
Key Takeaways
- Most banks allow minors to withdraw money at ATMs using a debit card once they reach age 13 or 14, but some require a parent present for branch withdrawals until age 18.
- Your bank's specific rules are in the account agreement you received when you opened the account — call the bank if you need to know what your minor can do.
- A minor can usually withdraw their own money, but a parent or guardian controls the account until the minor reaches the age of majority (usually 18).
- If a minor needs cash and doesn't have ATM access, a parent can withdraw on their behalf, or the minor can ask a parent to take them to the branch.
ATM withdrawals for minors with debit cards
Most banks issue a debit card to minors on custodial or teen accounts, and that card works at ATMs just like an adult's card does. The minor can use the card to withdraw cash 24/7 without a parent present. However, the bank may set a daily withdrawal limit — common limits are $100 to $500 per day for teen accounts, though this varies. The limit is usually set by the bank to prevent fraud and to give parents some oversight, not because minors can't legally withdraw their own money.
If your minor has reached the withdrawal limit for the day, they will have to wait until the next calendar day to withdraw more. Some banks let you raise the daily limit by calling customer service or logging into the online account, but others don't allow changes to teen account limits. Check with your bank about whether the limit can be adjusted and what the process is.
In-branch withdrawals and parental presence requirements
Some banks require a parent or guardian to be present when a minor withdraws money in a branch, even if the minor is old enough to use an ATM. This is not a legal requirement — it's the bank's own policy. Banks that enforce this rule typically do so for accounts held by minors under 16 or 17. Once the minor reaches a certain age (often 16 or 18, depending on the bank), they can usually walk into a branch alone and withdraw cash.
If your bank requires a parent present and your minor needs to withdraw money, you have two options: go to the branch together, or the minor can use an ATM instead. If neither option works, you can withdraw the money yourself as the account holder and give it to your minor. Call your bank's customer service line to confirm whether a parent must be present for your specific account and your minor's age.
What happens when a minor turns 18
When a minor reaches 18, they become a legal adult and the custodial account typically converts to a standard adult account. At that point, all withdrawal restrictions lift — the young adult can withdraw any amount at any time without a parent's permission or presence. Some banks require the account holder to visit a branch or call to formally convert the account, while others do it automatically on the 18th birthday.
Before the conversion happens, ask your bank what paperwork or steps are needed. Some banks will send a notice in the mail, but not all do. If your teen is about to turn 18, call ahead to understand the process so there are no surprises when they try to access their money.
If the minor doesn't have a debit card or ATM access
Not all teen accounts come with a debit card, and some banks don't issue cards until age 13 or 14. If your minor needs to withdraw cash and doesn't have a card, the parent or guardian can withdraw the money from the account and give it to the minor. This is the simplest route when a minor is very young or when the account doesn't include card access.
Alternatively, the minor can go to the branch with a parent and ask to withdraw money. The teller will process the withdrawal, and the parent can authorize it if needed. Some banks will also let a minor withdraw a small amount (often $20 to $50) without a parent present, even without a debit card, if they bring a valid ID and know their PIN or account number. Ask your bank what options exist for your minor's age and account type.
Savings accounts versus checking accounts for minors
Minors can withdraw from both savings and checking accounts, but the rules differ slightly. A checking account usually comes with a debit card and ATM access, so withdrawals are quick and frequent. A savings account may not have a debit card, and some banks limit how many withdrawals you can make per month (federal rules used to enforce this, though they have loosened). If your minor has a savings account without a card, they will need to visit a branch or ask a parent to withdraw the money for them.
If your minor regularly needs access to their money, a checking account with a debit card is usually more convenient. If the account is meant to be long-term savings that the minor shouldn't touch often, a savings account may be the better choice — the limited withdrawal access can actually help teach saving habits.
Frequently Asked Questions
Can a minor withdraw money without telling their parent?
Yes, if the minor has a debit card and ATM access, they can withdraw money without a parent knowing at that moment. However, the parent or guardian who controls the account can see all withdrawals on the account statement. The parent retains legal control of the account until the minor turns 18, even if the minor can access the money independently.
What if the bank won't let my minor withdraw their own money?
Call the bank and ask what the specific rule is for your account type and your minor's age. If the rule seems unreasonable, you can ask whether the account can be upgraded to one with more withdrawal freedom, or you can consider switching to a different bank that offers more access. Some banks are more restrictive than others.
Can a minor withdraw money if the account is in their name only?
If the account is truly in the minor's name only with no parent listed, the minor should be able to withdraw their own money, though they may need a parent present depending on their age and the bank's policy. However, most accounts for minors are custodial accounts where a parent is listed as the custodian. Check the account paperwork to see whose name is on it.
What if my minor lost their debit card?
Contact the bank immediately to report the card lost or stolen. The bank will cancel it and issue a replacement, which usually arrives in 5 to 10 business days. In the meantime, your minor can withdraw cash at a branch with a parent, or you can withdraw the money and give it to them. Some banks offer rush delivery on replacement cards for a fee.
Can a minor withdraw money from a joint account with a parent?
Yes, a minor on a joint account can usually withdraw money the same way they would from a custodial account — with a debit card at an ATM, or in a branch depending on the bank's age rules. Both account holders have equal legal rights to the money, though the bank's withdrawal policies for minors still apply.