What you need to open a checking account for a minor
A parent or guardian must open the account with the minor present at most banks. You will need a government-issued ID for yourself, a Social Security number for the minor, and proof of address (a utility bill, lease, or bank statement in your name). Some banks also ask for a second form of ID or proof of the minor's identity, though a birth certificate usually works if the minor does not have a state ID yet.
The minor does not need their own ID to open the account, but they do need to be there. Banks want to see the person whose name will be on the account. A few online banks let you open accounts for minors without a branch visit, but most require at least one in-person appointment to verify identity and signatures.
Call ahead or check the bank's website before you go. Account requirements and documentation vary by institution, and some banks have age limits — a few will not open accounts for children under 13, while others have no minimum age. Knowing what to bring saves a trip back.
Key Takeaways
- A parent or guardian must be present and open the account jointly with the minor; the minor cannot open an account alone.
- Bring your government ID, the minor's Social Security number, and proof of your address; most banks also want to see the minor in person.
- Account features differ by bank — some allow the minor to use a debit card immediately, while others restrict access until a certain age.
- Monthly fees, minimum balances, and parental controls vary widely, so compare banks before you choose one.
- Once the account is open, you can set up direct deposit of allowance or earnings, which teaches the minor to track money without handling cash.
Choosing between a joint account and a custodial account
A joint account has both your name and the minor's name on it. You both can withdraw money, and you both can see all transactions. This is the most common type for minors and the easiest to set up — most banks offer it with no special paperwork. The account stays joint until the minor turns 18 or 21, depending on the bank, at which point it may convert to an account in the minor's name alone.
A custodial account is held in the minor's name, but you control it as the custodian until they reach the age of majority (18 or 21, depending on state law). The minor's name is on the account, but the bank knows you are the decision-maker. Custodial accounts are less common for everyday checking and more often used for savings or investment accounts, but some banks offer them for checking too.
For most families, a joint account is simpler and faster. Custodial accounts require more paperwork and some banks do not offer them at all. Choose a joint account unless you have a specific reason to keep the account legally separate — for example, if you are managing money for a minor who is not your child and you need clear legal documentation of your role.
What to expect during the account opening process
Bring all your documents to the bank and plan for 30 to 45 minutes. A banker will verify your ID, check the minor's Social Security number against federal records, and ask you both to sign paperwork. They will explain the account features, show you how to use online banking and the mobile app, and discuss debit card options.
The banker will ask about the minor's age and may recommend account features based on it. For very young children, some banks offer accounts with limited debit card access or parental controls that let you approve transactions over a certain amount. For teenagers, the banker may discuss overdraft protection or savings goals features.
Once you sign, the account is usually active the same day. A debit card may be issued on the spot or mailed to you within 5 to 10 business days. Online banking access is typically available immediately, so you can log in and set up direct deposit or transfers right away.
Debit card options and spending controls
Most banks issue a debit card for the minor's account, but the timing and restrictions vary. Some banks give you the card immediately; others mail it separately. A few banks let you order a card through the app and have it arrive in a few days.
Many banks now offer parental controls on debit cards for minors. You can set daily spending limits, block certain types of purchases (like gas stations or online retailers), require approval for transactions over a set amount, or turn the card on and off from your phone. These tools let the minor practice spending while you keep oversight.
Ask the banker which controls are available before you leave. Not all banks offer them, and the ones that do may charge a small monthly fee for the feature. If parental controls matter to you, compare banks on this feature — it can make a real difference in how much supervision the account requires.
Fees, minimum balances, and account maintenance
Monthly maintenance fees range from zero to $15, depending on the bank and account type. Many banks waive the fee if you set up direct deposit, keep a minimum balance (often $100 to $500), or maintain a certain number of debit card transactions per month. Some banks have no monthly fee at all.
Overdraft fees apply if the minor spends more than the account balance. Typical overdraft fees are $25 to $35 per transaction. Some banks let you link a savings account to cover overdrafts automatically; others let you opt out of overdraft protection entirely, which means the card will simply decline if there is not enough money. Opting out is often the better choice for teaching a minor to manage money responsibly.
ATM fees may apply if you use an out-of-network machine. Banks that are part of a shared network (like Allpoint or MoneyPass) usually have free ATM access at thousands of locations. Check whether the bank you choose has ATMs near your home, school, or work, or whether you will pay fees regularly.
Banks and credit unions that offer accounts for minors
Most major banks offer checking accounts for minors, including Chase, Bank of America, Wells Fargo, and Citibank. Credit unions often have lower fees and more flexible requirements. If you belong to a credit union, ask whether they offer youth accounts — many do, and membership requirements may be easier to meet than at a large bank.
Online banks like Ally, Discover, and Charles Schwab also offer accounts for minors, though they require online account opening and may not have physical branches. These accounts often have no monthly fees and no minimum balance, which makes them cheaper than traditional banks. The trade-off is that you cannot walk into a branch if you have questions.
Compare at least two or three banks before you decide. Look at monthly fees, minimum balance requirements, ATM access, parental controls, and debit card features. Many banks let you see account details on their website without committing, so you can research before you visit.
Setting up direct deposit and teaching money management
Once the account is open, you can set up direct deposit of the minor's allowance, paycheck, or other income. Direct deposit is free and usually takes one to two business days to process. Ask your employer or the source of the payment for the bank's routing number and the account number — both are on the bottom of a check or available through online banking.
Direct deposit teaches the minor to see money arrive without handling cash, which makes it easier to track spending and savings. You can also set up automatic transfers to a savings account on the same day the deposit arrives, which builds the habit of saving before spending.
Many banks offer tools to help minors learn about money — spending trackers, savings goals, and alerts when the balance gets low. Show the minor how to log into the account and check the balance regularly. This habit, started early, makes managing money feel normal rather than overwhelming.
Frequently Asked Questions
Can a minor open a checking account without a parent?
No. A parent or legal guardian must open the account and be present. The minor cannot open an account alone, even as a teenager. Once the minor turns 18, they can open their own account without a parent, though some banks may still require a co-signer if the minor has no credit history.
What happens to the account when the minor turns 18?
Most banks convert the joint account to an account in the minor's name alone. You will no longer have access unless the minor adds you as an authorized user. Some banks send a notice before the conversion happens, giving you time to discuss what happens next. Check your bank's policy when you open the account.
Do I need to report the minor's account to the IRS?
No, not for a regular checking account. If the account earns interest, the bank will send a 1099-INT form if interest exceeds $10 in a year. Report that interest on the minor's tax return if they file one. A checking account itself does not trigger any tax reporting.
Can I set up an account for a child who does not have a Social Security number?
Most banks require a Social Security number to open an account. If the minor does not have one yet, you can apply for one at your local Social Security office or online at ssa.gov. The process takes about two weeks. Some banks may accept an Individual Taxpayer Identification Number (ITIN) instead, so call ahead to ask.
What if the minor's account gets overdrawn?
If overdraft protection is turned on, the bank will cover the overdraft and charge a fee (usually $25 to $35). If overdraft protection is off, the transaction will decline and no fee applies. Turning off overdraft protection teaches the minor that they cannot spend money they do not have, which is a valuable lesson.