You can open a bank account at any age, but the rules change depending on whether you're under 18
A child under 18 cannot open a bank account alone. A parent or legal guardian must open it with them, sign the paperwork, and remain on the account. The adult's name appears on the account alongside the child's, and the adult has full access to the money and account decisions.
At 18, you can open your own account without a parent present. Some banks let you start the process online; others require you to visit a branch in person. You'll need a government-issued ID and proof of address.
The age at which a young person can manage the account independently—without the parent's permission for withdrawals or transfers—varies by bank. Some banks allow this at 16 or 17; others wait until 18. The account type matters too: a basic savings account often has fewer restrictions than a checking account with a debit card.
Key Takeaways
- Children under 18 need a parent or guardian to open a bank account, and that adult remains a co-owner with full access.
- At 18, you can open your own account without a parent, though some banks have different rules for online versus in-person opening.
- The age at which you can use the account without parental permission varies by bank and account type—check with your bank directly.
- A custodial or minor account is the standard product for children; some banks also offer teen checking accounts with limited features.
- You will need a government ID and proof of address to open an account at 18; younger children need only the parent's documents.
What happens when a parent opens an account for a child
The parent or guardian brings their own ID and proof of address to the bank, along with the child. Some banks ask for the child's Social Security number; others do not. The adult signs the account agreement and becomes a co-owner, meaning they can deposit, withdraw, and manage money without asking the child's permission.
The child's name is on the account, and the child can use a debit card or passbook to access the account once they're old enough to use it safely. But the parent retains full control. If the child wants to close the account or move the money, the parent must approve it.
Most banks call this a custodial account or minor account. The account stays in this form until the child reaches the age of majority in their state—usually 18, sometimes 19 or 21. At that point, the account automatically converts to a regular adult account, and the parent's co-ownership ends.
Opening your own account at 18
Once you turn 18, you can walk into a bank branch or visit a bank's website and open an account in your name alone. You will need a government-issued ID (driver's license, state ID, or passport) and proof of address (a utility bill, lease, or bank statement with your name and current address).
Many banks let you open a checking or savings account online without visiting a branch. The process usually takes 10 to 15 minutes. You'll provide your personal information, choose an account type, and set up online banking access. Some banks mail a debit card within 5 to 10 business days; others issue a temporary card number you can use immediately.
A few banks still require you to open an account in person at a branch, especially if you're opening a checking account with overdraft protection or a credit card. Call or check the bank's website to confirm their policy before you go.
Teen checking accounts and limited-access products
Some banks offer teen checking accounts designed for teenagers aged 13 to 17. These accounts let a young person use a debit card and online banking while the parent monitors spending and can set limits on daily withdrawals or transfers.
Teen accounts typically come with parental controls built in. A parent can see all transactions, set spending caps, and receive alerts when the account balance drops below a certain amount. The teen can use the debit card at stores and ATMs, but cannot overdraft or take out a loan.
Not all banks offer teen accounts, and the features vary widely. Some allow the teen to transfer money between accounts; others block transfers entirely. Ask your bank whether they have a teen product and what restrictions come with it. If they don't, a standard custodial account is the alternative.
When the parent's access ends
The exact age at which a parent loses co-ownership depends on your state's law and your bank's policy. In most states, the account converts to an adult account at 18. In a few states (California, for example), the conversion happens at 21.
When the conversion happens, the parent's name is removed from the account, and the parent can no longer see transactions or move money. The young person now owns the account outright. Some banks send a notice before the conversion; others do it automatically without warning. Contact your bank before your 18th birthday to ask when and how the conversion will happen.
If you want the parent to stay on the account after you turn 18, you can usually request that in writing. The bank will ask both you and the parent to sign a new agreement. This is useful if you want the parent to help manage the account or co-sign for a loan later.
What you need to bring to open an account
| Your age | What you need | What the parent needs |
|---|---|---|
| Under 18 | Social Security number (sometimes); may not need ID | Government ID, proof of address, Social Security number |
| 18 or older | Government ID, proof of address, Social Security number | Not required |
Proof of address can be a utility bill, lease agreement, mortgage statement, or recent bank statement with your name and current address. A cell phone bill usually does not count. If you don't have a document in your name, ask the bank what alternatives they accept—some will take a letter from a landlord or a government benefits letter.
If you don't have a Social Security number, some banks will still open an account using an Individual Taxpayer Identification Number (ITIN) or a passport. Call ahead to confirm what your bank accepts.
Banks with no minimum age requirement
Most major banks (Chase, Bank of America, Wells Fargo, Citibank) allow parents to open accounts for children of any age, including infants. Credit unions often have the same policy. Some smaller banks set a minimum age of 13 or 16 for custodial accounts, but this is less common.
If you're looking to open an account for a very young child, call your bank or visit a branch to confirm they accept that age. Online banks (Ally, Charles Schwab, Discover) typically do not offer custodial accounts; they require the account holder to be 18 or older.
Frequently Asked Questions
Can a 16-year-old open a bank account without a parent?
No. Anyone under 18 needs a parent or legal guardian to open and co-own the account. A few banks offer teen checking accounts that let a 16-year-old use a debit card and online banking, but the parent remains the co-owner and can see all activity.
What happens to the account when I turn 18?
The account automatically converts from a custodial account to an adult account, and the parent's name is removed. You now own it outright. The bank usually sends notice before this happens, but contact them beforehand to confirm the exact date and process.
Can I open a bank account online at 18?
Most banks let you open a checking or savings account online at 18. You'll need a government ID and proof of address. Some banks mail a physical debit card; others give you a temporary card number to use right away. A few banks still require an in-person visit—check your bank's website first.
Do I need a Social Security number to open an account?
Most banks require a Social Security number, but not all. If you don't have one, ask your bank whether they accept an ITIN or passport instead. Some banks will open an account without any ID if a parent co-signs.
Can my parent stay on my account after I turn 18?
Yes. You and your parent can both sign a new account agreement to keep the parent as a co-owner after the automatic conversion. This is useful if you want help managing money or if the parent needs to co-sign for a loan later.