Yes, minors can have a bank account, but the rules depend on age and the bank

A minor can open a bank account at most banks and credit unions in the United States, but you cannot do it alone. A parent or legal guardian must open the account with you, sign the paperwork, and remain on the account as a co-owner until you reach the age of majority — usually 18, though some states set it at 19 or 21.

The specific rules vary by bank and by state. Some banks let minors as young as 13 open accounts with a parent present. Others require you to be 16 or older. A few banks offer teen-specific accounts with limited features or lower fees. Credit unions often have more flexible age requirements than large national banks.

The account itself works like any other checking or savings account: you can deposit money, withdraw it, use a debit card, and set up direct deposit. The main difference is that your parent or guardian has full access to the account and can see all transactions. You do not build credit history from a minor's account — that starts when you are older and take out credit in your own name.

Key Takeaways

  • A parent or legal guardian must open the account with you and co-sign the paperwork; you cannot open an account on your own as a minor.
  • Age requirements vary by bank, ranging from 13 to 16 years old, so call ahead or check the bank's website to confirm what your age group can do.
  • Your parent or guardian remains a co-owner of the account and has full access to it until you reach the age of majority in your state.
  • Teen accounts often come with a debit card, online banking, and sometimes lower or no monthly fees, but features differ by bank.
  • Opening an account as a minor does not build your credit score, but it teaches you how to manage money before you take on credit later.

What you need to bring to open an account

You and your parent or guardian will both need to bring identification. For the minor, this is usually a school ID, state ID, or passport. For the parent or guardian, a driver's license or state ID is standard. Some banks also accept a birth certificate for the minor if no other ID is available.

You will also need proof of address — a utility bill, lease, or mortgage statement in the parent's name, dated within the last 60 days. If you are opening the account in person at a branch, bring these documents with you. If you are opening it online, you may be able to upload photos of them or provide the information verbally during a video call.

Some banks ask for a Social Security number for both the minor and the parent. Have these ready before you go, or look up the bank's requirements online first so you do not make a wasted trip.

Differences between teen accounts and regular accounts

Many banks offer accounts designed specifically for minors and teens. These accounts usually come with a debit card, online banking access, and sometimes mobile app access so you can check your balance and see transactions. Some banks waive monthly maintenance fees on teen accounts, while others charge a small fee — typically $5 to $10 per month.

Teen accounts often have spending limits or transaction limits built in. For example, a bank might cap daily debit card spending at $500 or limit the number of withdrawals per month. These limits are meant to protect young account holders from overspending or fraud. Your parent or guardian can usually adjust these limits or turn them off as you get older and more responsible.

A regular joint account — where you and your parent are both owners — works the same way but may not have these built-in protections or teen-friendly features. It is worth comparing what your bank offers before you decide which type of account to open.

How your parent or guardian's access works

When your parent or guardian co-owns the account, they have the same rights you do. They can deposit money, withdraw money, see all transactions, and change account settings. They can also close the account without your permission, though most banks notify both owners when this happens.

This access is intentional — it lets your parent monitor spending, catch fraud, and help you learn to manage money responsibly. However, it also means your account is not private. Your parent can see what you spend money on and where you use your debit card.

When you turn 18 or reach the age of majority in your state, you have the option to remove your parent from the account. The process varies by bank: some let you do it online, others require a visit to the branch or a phone call. Your parent will usually be notified when this happens. Some banks automatically remove the parent at age 18; check with your bank about their specific policy.

Building money habits before you build credit

A minor's bank account does not report to credit bureaus, so opening one does not help or hurt your credit score. Credit history starts when you are older and borrow money — through a credit card, student loan, or car loan in your own name.

However, the account is a good place to practice the habits that matter for credit later: making deposits on time, not overdrawing your account, keeping track of your balance, and understanding how interest works if you have a savings account. Some teen savings accounts pay a small amount of interest on the money you keep in them, which teaches you how money can grow over time.

If your bank offers it, ask about setting up automatic transfers from your checking account to a savings account. This teaches you to save before you spend, which is a habit that will serve you well when you are older and managing credit.

What happens when you turn 18

At 18, you become a legal adult in most states, and you have the right to remove your parent or guardian from your account. You can also open new accounts in your own name without a co-owner. However, you do not have to remove your parent — some people keep joint accounts with their parents into adulthood for convenience or trust.

If you want to keep the account but remove your parent, contact your bank and ask for the process. You will usually need to provide ID and sign a form. The bank will notify your parent that they have been removed. If you want to close the account entirely and open a new one in your name alone, that is also straightforward — just ask the bank for the steps.

At 18, you also become responsible for any overdrafts, fees, or negative balances on the account. Your parent is no longer liable for these, so make sure you understand your account's terms before your parent is removed.

Where to open an account

Most national banks — Chase, Bank of America, Wells Fargo, Citibank — offer teen accounts or joint accounts for minors. Credit unions often have more flexible policies and lower fees. Online banks like Ally and Discover also offer accounts for minors, though the process is usually done entirely online or by phone.

Before you choose, compare what each bank offers: age requirements, fees, debit card features, spending limits, interest rates on savings, and the process for removing a parent at 18. Many banks let you compare accounts on their website or call their customer service line to ask questions.

If you are not sure where to start, ask your parent which bank they use. Many families open teen accounts at the same bank where the parent already has an account, which makes it easier to transfer money and manage the account together.

Frequently Asked Questions

Can I open a bank account without my parent knowing?

No. A parent or legal guardian must be present and co-sign the paperwork for any account opened by a minor. Banks are required by law to verify the identity of both the minor and the adult before opening the account. If you are concerned about your parent's involvement, talk to a trusted adult — a school counselor, relative, or social worker — who can help you understand your options.

What if my parent refuses to help me open an account?

If your parent is unwilling or unable to help, a legal guardian, grandparent, or other court-appointed guardian can open the account with you instead. If you do not have a parent or guardian available, contact your school counselor or local social services office for resources and support.

Can I use my account to build credit?

No. A minor's bank account does not report to credit bureaus and does not build your credit score. Credit history starts when you are 18 and borrow money in your own name — through a credit card, loan, or other credit product. However, the account teaches you money management skills that matter for credit later.

What happens if my account goes negative or I overdraft?

If you spend more than you have, the bank may charge an overdraft fee — typically $25 to $35 per transaction. Your parent or guardian is usually responsible for paying this fee while you are a minor, though this varies by bank. Once you turn 18 and your parent is removed from the account, you become responsible for any fees or negative balances.

Can I have more than one account as a minor?

Yes. You can open multiple accounts at the same bank or at different banks, as long as a parent or guardian co-signs each one. Some teens open a checking account for spending and a separate savings account to keep money set aside. Each account will have its own debit card and online login, though your parent can usually see all of them.