What you need to open an account for a minor
Most banks let you open a savings or checking account for a child under 18, but the process differs depending on the child's age and the bank's rules. For children under 13, you will almost always need to be a parent or legal guardian and open a custodial account — an account you control on the child's behalf until they reach the age of majority (usually 18). For teens 13 and older, some banks offer accounts the teen can open themselves with your permission, though you may still need to be listed as a co-owner or guardian.
The specific documents and steps vary by bank and by state. Before you visit a branch or start an online application, call your bank or check their website for their exact requirements for minors — what they call the account, what age groups they serve, and whether they require an in-person visit.
Key Takeaways
- Children under 13 need a custodial account opened by a parent or legal guardian; the parent controls the account until the child reaches adulthood.
- Teens 13 and older may be able to open their own account at some banks, but requirements vary widely — call ahead to confirm your bank's policy.
- You will need a government ID for yourself, proof of the child's identity (birth certificate or Social Security card), and sometimes proof of address.
- Many banks waive monthly fees for youth accounts and offer no-minimum balances, but features like debit cards and online access differ by institution.
- Some banks require an in-person visit to open an account for a minor; others allow online opening if you verify your identity through their app or website.
Documents you will need to bring or provide
For yourself (the parent or guardian), bring a valid government-issued photo ID — a driver's license, passport, or state ID card. The bank needs to verify your identity before they can open any account in your name or on behalf of a minor.
For the child, you will need proof of their identity and Social Security number. Most banks accept a birth certificate, Social Security card, or passport. Some also accept a school ID or state ID if the child is a teen. If you do not have the child's Social Security number yet, you can obtain one from the Social Security Administration — you will need the child's birth certificate, your ID, and proof of your relationship to the child (usually the birth certificate serves both purposes).
Proof of address is sometimes required. A recent utility bill, lease, or mortgage statement in your name usually works. A few banks ask for the child's address separately; if you live at the same address, one document covers both.
Opening an account in person versus online
Many large banks require you to visit a branch in person to open a custodial account for a child under 13. The bank wants to see both you and the child, verify your IDs, and explain the account terms face-to-face. This visit typically takes 15 to 30 minutes. Bring all documents listed above and any debit card or checks you want to order at the time.
Some banks, particularly online-only banks and credit unions, allow you to open a custodial account online. You will upload photos of your ID and the child's birth certificate or Social Security card, verify your identity through your existing account or a video call, and sign documents electronically. This process usually takes a few days to a week for approval, and the bank mails the debit card and account materials to your address.
For teens 13 and older, online opening is more common. The teen may be able to download the bank's app, enter their information, and you approve the account through your own banking app or by signing a form the bank sends. Ask your specific bank whether the teen needs to be present (in person or on a video call) or whether your approval alone is enough.
Custodial accounts and what happens when the child turns 18
A custodial account is a legal arrangement where you, the parent or guardian, own and control the account on the child's behalf. The child's name is on the account, and they can see the balance and make deposits, but you have the power to withdraw money, close the account, or set spending limits. The account is held in trust under a law called the Uniform Transfers to Minors Act (UTMA) or Uniform Gifts to Minors Act (UGMA), depending on your state.
When the child reaches the age of majority — 18 in most states, 19 in Alabama and Nebraska, 21 in Mississippi — the account automatically converts to a regular account in the child's name alone. You lose access and control. The bank will notify you of the conversion date in advance. If you want to discuss the account with the bank after that point, the child must give permission or be present.
Some banks offer a "teen account" or "student account" that is not custodial — the teen is the account holder from the start, and you are listed as a co-owner or authorized user. These accounts do not automatically convert; they simply remain in the teen's name. Ask your bank which type they offer for the age group you are opening for.
Fees, minimum balances, and features to compare
Most banks waive monthly maintenance fees for youth and student accounts. Some charge a small fee ($3 to $5 per month) if the account falls below a minimum balance, but many youth accounts have no minimum at all. Check the fee schedule on the bank's website or ask in the branch.
Debit cards are standard for accounts opened for teens 13 and older. For younger children, some banks issue a debit card; others do not. If the child is very young, you may prefer to manage deposits and withdrawals yourself without giving the child a card. Ask whether a debit card is included and whether you can set spending limits or require your approval for each transaction.
Online and mobile banking access varies. Some banks let the child log in to their own account and see the balance; others restrict the child's access and require you to manage everything through your account. If teaching the child to monitor their own money is important to you, confirm that the bank offers a child-friendly app or online portal.
Where to open an account: banks, credit unions, and online options
Large national banks like Chase, Bank of America, Wells Fargo, and Citibank all offer youth accounts. They have branches nationwide, so opening in person is usually convenient. Their online tools are well-developed, and they often offer educational resources about money management for kids.
Credit unions typically have lower fees and may offer better interest rates on savings. If you are a member of a credit union, ask whether they offer youth accounts and what their requirements are. Credit unions are often more flexible about age and documentation than large banks.
Online banks like Ally, Charles Schwab, and Fidelity offer accounts for minors with no monthly fees and no minimum balance. They do not have physical branches, so you open entirely online. The trade-off is that you cannot visit a branch if you have questions, though most offer phone and email support.
Some banks market accounts specifically for teens and include features like chore-tracking apps, parental controls, or financial literacy tools. These are not necessary, but if your teen is interested in learning to budget, they may be worth exploring.
What to do if the bank denies the account or requires extra steps
If a bank refuses to open an account for your child, the most common reasons are missing documents, an incomplete Social Security number, or a mismatch between the name on your ID and the name on the child's birth certificate (for example, if you remarried and the child's last name differs from yours). Ask the bank exactly what is missing and whether you can provide it in person or by mail.
If you do not have a birth certificate or Social Security card, contact your state's vital records office (for the birth certificate) or the Social Security Administration (for the Social Security number) before you try to open the account. These processes take several weeks, so start early if you know you will need them.
If you are not the biological parent but are the legal guardian, bring the guardianship papers or custody order. The bank needs proof that you have the legal right to open an account on the child's behalf. If you are a grandparent, aunt, uncle, or other relative, the same rule applies — you need legal documentation of guardianship.
Frequently Asked Questions
Can a child open a bank account without a parent?
No. Children under 18 cannot open an account alone. A parent or legal guardian must be involved. For children under 13, the adult must open a custodial account. For teens 13 and older, some banks allow the teen to open an account with parental permission, but the parent is usually listed as a co-owner or authorized user.
What if I don't have the child's Social Security number yet?
Contact the Social Security Administration to request one. You will need the child's birth certificate, your ID, and proof of your relationship (the birth certificate usually covers this). The process takes two to four weeks. Some banks may open an account without a Social Security number if you provide an Individual Taxpayer Identification Number (ITIN) instead, but this is rare — call ahead to ask.
Can the child use the debit card before they turn 13?
It depends on the bank. Some banks issue debit cards for children as young as 6 or 7, with parental controls that limit spending. Others do not issue cards until age 13. If you want your young child to have a card, ask the bank whether they offer one and what controls you can set.
What happens if I close the account before the child turns 18?
You can close a custodial account at any time. The remaining balance is yours to withdraw or transfer. The child does not have a say in closing the account because you are the legal owner. If you want to teach the child about saving, consider moving the money to a new account in their name instead of closing it entirely.
Do I need to file taxes on money in the child's account?
If the account earns interest or dividends, you may need to report that income on your tax return or the child's return, depending on the amount and your state's rules. Interest earned on savings accounts is usually small enough that it does not trigger a tax filing requirement, but ask your tax preparer or the bank about the threshold in your situation.