Yes, you can open a bank account under 18, but a parent or guardian must be on the account with you

Most banks let you open a checking or savings account before you turn 18, but they require a parent or legal guardian to co-own the account or be listed as a custodian. You cannot open an account entirely in your own name until you reach the age of majority in your state—usually 18, though a few states set it at 19 or 21. The adult on the account has full access to the money and can make decisions about it, so choose someone you trust.

The specific rules vary by bank. Some banks have dedicated teen or student accounts with lower minimum balances and fewer fees. Others let you open a regular account as long as a parent signs. A few banks set a minimum age—some require you to be at least 13, others accept younger children. Call ahead or check the bank's website to confirm what they offer before you go in.

Key Takeaways

  • A parent or legal guardian must be on the account with you until you reach the age of majority in your state, usually 18.
  • Different banks have different rules about minimum age and account types for minors, so check with your bank first.
  • Teen and student accounts often have lower fees and lower minimum balances than regular accounts.
  • You will need a Social Security number, proof of identity, and proof of address to open an account.
  • Once you turn 18, you can remove the adult from the account or open your own account without them.

What documents you need to bring

Bring your Social Security number or tax ID number. You will also need a photo ID—a school ID, state ID, or passport all work. If you do not have a photo ID yet, some banks will accept a birth certificate or school records instead, but call first to confirm.

Bring proof of address. This can be a utility bill, lease, mortgage statement, or school enrollment letter in your name or your parent's name. If you live with your parent, their bill with your address on it counts. Some banks also accept a recent bank statement or government mail.

Your parent or guardian will need to bring their own photo ID and proof of address as well. They may also need to provide their Social Security number and sign paperwork authorizing the account.

Teen accounts versus regular accounts

Many banks offer accounts designed for teenagers that come with features meant to teach money management. These accounts often have no monthly fee, no minimum balance requirement, and limited overdraft fees. Some include a debit card with spending limits you and your parent can set together. Others offer tools to track spending or set savings goals.

A regular checking or savings account works too, but it may have a monthly maintenance fee if you do not keep a minimum balance. Teen accounts are usually free as long as you meet basic requirements like having direct deposit or keeping a small balance. Compare what your bank offers—the teen version is often the better deal if you are just starting out.

How to open the account in person or online

Most banks let you open an account in a branch with your parent present. You both bring your IDs and proof of address, fill out the application, and sign the paperwork. The account is usually ready to use the same day or within a few business days. You will get a debit card in the mail within one to two weeks.

Some banks also let you start the process online. You can fill out the application on their website, but you will still need to verify your identity—usually by uploading a photo of your ID or visiting a branch in person. A parent will need to sign electronically or in person depending on the bank's rules. Online applications can be faster, but confirm with your bank whether a parent signature is required before you start.

A few banks do not let minors open accounts online at all. If the bank's website does not show an option for minors, call their customer service line or visit a branch to ask what they offer.

What happens when you turn 18

Once you reach 18, you have options. You can keep the account as is with the adult still on it, or you can ask the bank to remove them and make it your account alone. Some banks do this automatically when you turn 18; others require you to go to a branch and sign new paperwork. Check with your bank about their policy.

You can also open a new account in your own name at 18 and transfer the money over if you want a fresh start. This is useful if you want to separate your finances from your parent's or if you want to switch banks. There is no penalty for closing the teen account once you have moved the money.

What to do if the bank says no

If your bank does not offer accounts for minors, try a different bank or a credit union. Credit unions often have more flexible rules and may let younger teens open accounts. Online banks sometimes have lower age minimums than traditional banks, though they may still require a parent on the account.

If you cannot open a bank account for other reasons—such as not having a Social Security number or proof of address—ask your parent about a savings account in their name that you can use. This is not ideal because you do not build your own credit history, but it lets you start saving money safely. Once you have the documents you need, you can open your own account.

Frequently Asked Questions

Can I open a bank account without my parent knowing?

No. Banks require a parent or legal guardian to be on the account with you, and they must sign the paperwork. The adult will receive statements and can see all transactions. If you are in foster care or have a different legal guardian, that person can sign instead of a parent.

What is the youngest age a bank will let me open an account?

It depends on the bank. Most banks accept minors as young as 13, but some go lower—a few accept children as young as 7 or 8 with a parent. Check with your specific bank to find out their minimum age.

Can I get a debit card with a teen account?

Most teen accounts come with a debit card, but not all. Some banks issue the card automatically; others require you to request one. Ask when you open the account whether a debit card is included and how long it takes to arrive.

Will opening a bank account hurt my credit?

No. Opening a checking or savings account does not affect your credit score. Credit scores are based on borrowed money and how you repay it, not on bank accounts. You can open a bank account without any impact on your credit.

What if my parent wants to close the account?

Since your parent is on the account, they can close it without your permission. If you are concerned about this, talk to them about keeping the account open. Once you turn 18, you can open your own account that only you control.