What you need to open an account for a child
A parent or legal guardian must open the account in person at a bank or credit union branch. You will need your own government-issued photo ID, the child's Social Security number, and proof of your address (a utility bill, lease, or recent bank statement works). Some banks also ask for the child's birth certificate, though not all require it.
The child does not have to be present for the account opening, though many banks encourage it so the child can get a debit card made on the spot. If the child is present, bring their ID or birth certificate so the bank can verify their identity. Some institutions have a minimum age—typically 13 or older—before a minor can have their own debit card, even on a parent-controlled account.
Call ahead to confirm what documents your specific bank wants. Requirements vary between institutions, and some banks have moved to online account opening for minors, which speeds up the process but still requires you to verify your identity through video or in-person confirmation.
Key Takeaways
- You must open the account in person with your photo ID and the child's Social Security number; the child does not have to attend.
- Most banks offer custodial accounts where you control the money until the child reaches the age of majority (18 or 21, depending on state and account type).
- Debit cards for minors are often restricted by age—many banks do not issue them until age 13—and some have spending limits you can set.
- Credit unions and online banks often have lower or no minimum balance requirements than traditional banks, which matters if you are starting with a small deposit.
- The account opening takes 15 to 30 minutes in branch, or one to three business days if done online.
Custodial accounts versus UTMA and UGMA accounts
A custodial account is the simplest option. You open it as the custodian, you control all the money and decisions, and the account transfers to the child when they reach the age of majority (18 in most states, 21 in a few). The child's name and Social Security number are on the account, but you sign all checks and authorize all withdrawals until that transfer date arrives.
A UTMA account (Uniform Transfers to Minors Act) or UGMA account (Uniform Gifts to Minors Act) is a legal structure that lets you put money in the child's name with tax advantages. The money belongs to the child from the moment you deposit it, but you manage it as custodian until they turn 18 or 21. When they reach that age, the account automatically becomes theirs—you lose control. These accounts are often used for gifts or inheritance, not everyday spending.
For a child's first account, a regular custodial checking or savings account is usually the right choice. It gives you full control, costs nothing extra, and you can close it or convert it when the child is old enough to manage their own account. Ask the bank which type they are opening; most default to a simple custodial account unless you specifically request a UTMA or UGMA structure.
Banks, credit unions, and online options
Traditional banks (Chase, Bank of America, Wells Fargo, Citibank) have branches everywhere, which makes it easy to deposit cash or get help in person. They typically require a minimum opening deposit of $25 to $100, though some waive it for minors. Monthly fees range from $0 to $15, depending on the account type and whether you meet balance or direct-deposit requirements.
Credit unions often have lower fees and no minimum balance for youth accounts. You must be a member to open an account, which usually means working for a specific employer, belonging to a certain organization, or living in a specific area. If you may have access to, credit unions are often cheaper than banks over time. Call ahead to confirm membership requirements.
Online banks (Ally, Charles Schwab, Discover) have no branches but offer accounts with no monthly fees and no minimum balance. Some allow you to open a minor's account entirely online; others require an in-person visit to verify identity. Online banks are good if you want to avoid fees, but they do not work well if your child needs to deposit cash frequently—you will have to mail checks or use ATMs.
Debit cards, spending limits, and account controls
Most banks issue a debit card to the child once they reach a certain age, usually 13. The card is linked to the account you control, so you see every transaction and can set spending limits. Some banks let you turn the card on and off from a mobile app, block certain types of purchases (like online shopping), or set daily spending caps.
If the child is younger than 13, you can still use the account to teach money habits—you deposit an allowance, the child learns to check the balance, and you handle all withdrawals. Some parents use this phase to introduce the idea of saving before moving to a debit card later.
Ask the bank what controls are available before you open the account. Features like purchase notifications, spending limits, and the ability to freeze the card vary widely. If monitoring and control are important to you, test the bank's mobile app first—some are much easier to use than others.
What happens when the child turns 18
On the date the child reaches the age of majority (usually 18, sometimes 21), the account automatically converts to a regular adult account in their name. You are removed as custodian and lose access to the account. The child can now withdraw money, close the account, or change the account type without your permission.
Some banks send a notice before this happens; others do not. If you want to discuss the transition with your child or help them understand how to manage the account, start the conversation a few months before their birthday. You can also help them set up online banking, review their balance, and talk through their financial goals before you lose access.
If the account has a high balance and you are concerned about how the child will manage it, you can withdraw the money before the conversion date and open a new account in your name, or discuss with the child whether they want to keep the account open. Once the conversion happens, the decision is theirs.
Opening the account step by step
First, choose a bank or credit union and call to confirm what documents you need and whether they offer online or in-person opening. If opening in person, ask how long it takes and whether you need an appointment.
Gather your photo ID, proof of address, and the child's Social Security number. If the child will be present, bring their birth certificate or ID as well. If you are opening online, have these documents ready to photograph or scan.
Go to the branch or start the online process. If in person, tell the banker you want to open a custodial account for a minor. They will ask you to choose between checking, savings, or both; whether you want overdraft protection; and whether you want a debit card issued. If opening online, you will answer these questions on the bank's website.
Sign the paperwork (or e-sign if online), make your opening deposit, and ask for a receipt. The account is usually active the same day if you open in person, or within one to three business days if you open online. The debit card arrives by mail within 7 to 10 business days.
Common mistakes to avoid
Do not open the account in the child's name alone. Banks will not do this for minors, and if you somehow manage it, you will have no legal control over the money. Always open it as a custodial account with you as the custodian.
Do not assume all banks have the same features. Some offer spending limits and purchase controls; others do not. If these tools matter to you, ask before you open the account, not after.
Do not forget about the age-of-majority conversion. Mark your calendar for when the child turns 18 (or 21, depending on your state and account type) so you can have a conversation about the transition before it happens automatically.
Do not open multiple accounts at different banks unless you have a specific reason. One account is simpler to manage and teaches the child to focus on one place to save and spend.
Frequently Asked Questions
Can I open a bank account for a child without their Social Security number?
No. Banks are required by federal law to collect a Social Security number or Individual Taxpayer Identification Number (ITIN) for any account. If the child does not have a Social Security number yet, you can obtain one from the Social Security Administration before opening the account. The process takes about two weeks by mail or can be done in person at a local office.
What if I do not have proof of address?
A utility bill, lease agreement, mortgage statement, or recent bank statement all work. If you do not have any of these, some banks accept a government-issued ID with your current address, a cell phone bill, or a letter from your employer. Call the bank first to ask what they accept—requirements vary.
Can a grandparent or other relative open an account for a child?
Only a parent or legal guardian can open a custodial account. If you are a grandparent or other relative, you can give money to a parent to deposit into the child's account, or you can open a UTMA or UGMA account in your name as custodian if the bank allows it. Ask the bank what options are available for non-parents.
Do I need to bring the child to the bank to open the account?
No. You can open the account alone with your ID and the child's Social Security number. The child does not need to be present. However, if you want the child to get a debit card made immediately, bringing them to the branch can speed up the process.
What is the difference between a savings account and a checking account for a minor?
A checking account comes with a debit card and check-writing ability, making it better for everyday spending. A savings account earns interest (though rates are usually very low) and is better for teaching the child to save. Many banks let you open both at the same time, which gives the child a place to spend and a place to save.