Yes, you can have a bank account under 18, but a parent or guardian must open it with you

Most banks let you open an account before you turn 18, but the rules depend on your age and the bank. If you are under 13, a parent or guardian has to be a joint owner of the account and sign all the paperwork. If you are 13 or older, many banks let you open an account on your own, though a parent still has to be listed as a custodian or co-owner — they do not have to use the account, but they are legally responsible for it until you turn 18.

The specific age when you can open an account alone varies by bank. Some start at 13, others at 15 or 16. A few banks have no minimum age if a parent opens it with you. The account itself works the same way as an adult account — you get a debit card, online access, and the ability to deposit and withdraw money — but your parent retains control and can see all activity.

Key Takeaways

  • You can open a bank account under 18 with a parent or guardian present, and most banks allow this starting at birth.
  • If you are 13 or older, many banks let you open the account yourself, but a parent must still be listed as the account owner or custodian.
  • You will need a Social Security number, proof of identity (usually a school ID or birth certificate), and proof of address to open an account.
  • Once the account is open, you can use a debit card and online banking just like an adult, though your parent can monitor the account.
  • At 18, you can convert the account to a standard adult account and remove your parent's access, depending on the bank's policy.

What you need to bring to open an account

To open an account, bring your Social Security number and a form of ID. For minors, this is usually a school ID, birth certificate, or passport. The bank will also ask for proof of address — a utility bill, lease, or mail from a government agency with your name and the address where you live. If you are opening the account with a parent, bring their ID and Social Security number as well.

Some banks let you open an account online if you have a parent's account with them already. Others require you to visit a branch in person. Call the bank ahead of time to ask what documents they need and whether you can start the process online or have to come in.

How much control your parent has over the account

When a parent is a joint owner or custodian, they can see every transaction, deposit, and withdrawal. They can also move money in and out of the account without asking your permission. This is legal — the account is in their name too, and they are responsible for it. Some parents use this to teach money habits; others step back and let their teenager manage it independently.

You should talk to your parent about what the rules are for your account. Can you withdraw money whenever you want? Will they tell you before they move money? Do they plan to check the balance regularly? These conversations prevent surprises later. Some teens use the account to save toward a goal (a car, college, a trip), and knowing your parent's role helps you plan.

Types of accounts available to minors

Most banks offer a teen checking account or youth account designed for people under 18. These usually come with a debit card, online banking, and mobile app access. Some have no monthly fees; others charge a small fee if you do not keep a minimum balance. A few banks waive fees for accounts opened by minors.

A savings account is another option if you want to set money aside and earn interest. The interest rate is usually very low — often less than 0.01% — but it is better than keeping cash at home. Some banks let you open both a checking and savings account at the same time.

A custodial account is different from a regular joint account. The parent is the custodian, meaning they manage the money until you turn 18 or 21 (depending on state law and the bank). At that age, the account automatically becomes yours and your parent loses access. This is less common for everyday banking but is sometimes used for savings or money gifts.

What happens when you turn 18

At 18, you can convert your account to a standard adult account. The process varies by bank. Some do it automatically; others require you to visit a branch or call and ask. Your parent's name will be removed from the account, and you will have full control. You can change the PIN, set up new online passwords, and manage the account without their involvement.

Before your 18th birthday, ask your bank what the conversion process is. Some banks send a notice a few weeks before your birthday. Others do nothing unless you ask. If you want to keep the account open, make sure you know the steps so there is no gap in service.

Banks that let minors open accounts

Most major banks offer accounts for minors. Chase, Bank of America, Wells Fargo, and Citibank all have teen checking accounts. Credit unions often have youth accounts too, and sometimes with lower fees or better terms than big banks. Online banks like Ally and Charles Schwab also offer accounts for minors, though the process is usually online only.

If you are looking for a specific bank, search their website for "teen account" or "youth account" and read the age requirements. Call the bank directly if the website does not say whether you can open an account at your age. A few banks have minimum age requirements of 16 or 17, so it is worth checking before you go to a branch.

Reasons to open an account before 18

Having a bank account teaches you how to manage money, track spending, and save toward goals. A debit card is safer than carrying cash and gives you a record of every purchase. If you work a part-time job, direct deposit into a bank account is faster and more secure than getting a paper check.

An account also builds your banking history. Banks look at how long you have had an account and how you use it when you later ask for a loan, credit card, or mortgage. Starting early gives you a head start. Some banks also offer rewards or cash back on debit card purchases for teen accounts, so you earn a little money just by using the card.

Frequently Asked Questions

Can I open a bank account without my parent knowing?

No. If you are under 18, a parent or guardian must be present to open the account and sign the paperwork. Banks are required by law to verify the identity of anyone who opens an account, and minors cannot do this alone. Your parent will receive statements and can see all activity.

What if my parent will not let me open an account?

You cannot open a bank account without a parent or guardian until you turn 18. If you have a trusted adult — a grandparent, aunt, uncle, or older sibling — they can open an account with you instead, as long as they have legal guardianship or your parent agrees. Talk to your parent about why you want an account; many will help once they understand your goal.

Can I have a bank account if I do not have a Social Security number?

Most banks require a Social Security number to open an account. If you do not have one, you can request one from the Social Security Administration. The process takes a few weeks. Some banks may accept an Individual Taxpayer Identification Number (ITIN) instead, but this is rare. Call ahead to ask.

Will opening a bank account hurt my credit score?

No. Opening a checking or savings account does not affect your credit score. Banks check your banking history (through ChexSystems or Early Warning Services), not your credit. A bank account is separate from credit and does not show up on your credit report.

Can I use my bank account to buy things online?

Yes, if your account comes with a debit card. You can use it to shop online just like an adult. Some banks put limits on online purchases for minors, or require parental approval for large transactions. Ask your bank what the rules are for your account.