Yes, minors can open a bank account, but the account must be opened with a parent or guardian present
A minor cannot open a bank account alone. Every bank requires a parent or legal guardian to co-own the account, sign the paperwork, and take responsibility for it. The minor's name goes on the account, but the adult is the primary account holder until the minor reaches the age of majority — usually 18, though some banks extend it to 21.
The specific rules vary by bank and by state. Some banks allow minors as young as 13 to have their own debit card tied to a parent-controlled account. Others require the minor to be 16 or older. A few banks have separate teen accounts with built-in spending limits and parental controls. The best approach is to call your bank or visit a branch to ask what they offer for your child's age.
Key Takeaways
- A parent or legal guardian must be present and co-sign when a minor opens a bank account; the minor cannot open one alone.
- Most banks allow minors to open accounts starting at age 13, though some require 16 or older, and rules differ by institution.
- You will need the minor's Social Security number, proof of identity (usually a school ID or birth certificate), and the parent's ID and Social Security number.
- Teen accounts often include a debit card, online banking access, and parental controls that let the adult monitor spending and set limits.
- The account remains under the parent's control until the minor reaches the age of majority, at which point it can be converted to a standard account.
What documents you need to bring to the bank
Bring the minor's Social Security number and a form of ID. Most banks accept a school ID, birth certificate, or state ID card. Some also accept a passport. Call ahead to confirm what your bank takes, because policies vary.
The parent or guardian will need their own ID (driver's license or state ID), Social Security number, and proof of address — usually a recent utility bill or bank statement. Some banks also ask for a second form of ID from the adult. Bring originals, not copies, unless the bank tells you otherwise.
If the minor is opening the account with someone other than a biological parent — a grandparent, aunt, or other relative — bring proof of legal guardianship. A court order or custody document is usually required. If you are unsure whether your guardianship papers will be accepted, contact the bank before you visit.
How age affects what type of account the minor gets
Banks often have different account tiers based on age. A 10-year-old might only be able to open a savings account with no debit card. A 14-year-old might get a teen checking account with a debit card and parental controls. An 17-year-old might open a standard checking account that functions like an adult account, except the parent remains the co-owner.
Parental controls typically let the adult set daily spending limits, block certain types of transactions (like ATM withdrawals), receive alerts when the card is used, and freeze the card remotely if needed. Some banks also offer chore-tracking apps or savings goals tied to the account. These features are most common in accounts for ages 13 to 17.
Once the minor turns 18 (or 21, depending on the bank), the account can usually be converted to a standard adult account. The parent's name may be removed, or the minor may need to open a new account and transfer the balance. Ask your bank what happens at the age of majority so you are not surprised.
The difference between a joint account and a custodial account
Most banks use a custodial account structure for minors. The parent is the custodian, meaning they have full control and legal responsibility. The minor's name is on the account, but they cannot make major changes — like closing the account or removing the parent — without the adult's permission. This protects the minor and gives the parent peace of mind.
Some banks offer a joint account instead, where both the parent and minor are equal owners. Joint accounts are less common for minors because they give the minor more power than is usually safe. If you have a choice, a custodial account is the standard option and the one most banks recommend for children under 18.
The account type affects what happens if the parent dies or the relationship changes. In a custodial account, the funds typically pass to the minor's estate. In a joint account, the surviving owner (usually the parent) may inherit the full balance. Ask your bank which structure they use and what the inheritance rules are.
Fees and minimum balance requirements
Many banks waive monthly fees for teen and minor accounts. Some charge a small monthly fee ($3 to $5) if the balance drops below a certain amount, usually $100 to $500. A few banks have no minimum balance and no monthly fee at all.
Overdraft fees, ATM fees, and out-of-network transaction fees still apply, even for minors. If the minor's account is linked to the parent's account, overdraft protection may transfer funds automatically to cover a shortfall — but this usually costs $35 per transfer. Ask your bank what fees apply and whether you can turn off overdraft protection to prevent surprise charges.
Some banks offer student discounts or waive fees if the minor is enrolled in school full-time. Others waive fees only while the minor is under 18. Read the account terms carefully, because fee structures change when the account converts to an adult account.
How to convert the account when the minor turns 18
When the minor reaches 18, contact your bank to ask what happens next. Some banks automatically convert the account to a standard adult account and remove the parent's name. Others require you to visit a branch or sign new paperwork. A few require the minor to open a new account entirely and transfer the balance.
The parent may be able to stay on the account as a co-owner if both parties agree, or they may be removed automatically. If the parent wants to keep oversight, they can ask to remain on the account — but this is now a joint account between two adults, not a custodial account, and the rules change. The minor now has equal power to make decisions and withdraw funds.
If the minor wants to remove the parent at 18, they can usually do so by visiting the bank with their ID. The parent cannot prevent this. Plan this conversation ahead of time so there are no surprises.
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 physically present or to authorize the account opening in writing. Some banks may allow a parent to open an account for a minor remotely using online forms and video verification, but the parent must still be involved. The minor cannot open an account alone at any age under 18.
What if the minor does not have a Social Security number yet?
Most banks will not open an account without a Social Security number. If the minor was born recently and does not have one yet, you can apply for one at the Social Security Administration office or online at ssa.gov. The process takes a few weeks. Some banks may accept an Individual Taxpayer Identification Number (ITIN) instead, but this is rare. Call your bank to ask.
Can a minor have their own debit card?
Yes, most banks issue a debit card to minors age 13 and up. The card is linked to the custodial account and can be used at ATMs and stores. The parent can set spending limits and receive alerts when the card is used. Some banks allow the parent to freeze the card remotely if it is lost or if the minor is spending too much.
What happens to the account if the parent dies?
In a custodial account, the funds belong to the minor and pass to their estate or to whoever is named as the beneficiary. The account does not automatically close. A new guardian or the minor (if they are old enough) can take over the account. Contact the bank immediately if the parent dies so they can update the account records and explain what happens next.
Can a minor open an account at a different bank than their parent uses?
Yes. The minor and parent can open an account at any bank, regardless of where the parent banks. There is no requirement to use the same institution. However, using the same bank can make it easier to link accounts for transfers and to monitor the minor's spending from the parent's online banking dashboard.