You can open a bank account for a child at any age, but the rules change depending on whether you're the account holder or they are

A parent or guardian can open a savings account in a child's name from birth. Most banks allow this through a custodial account, where you control the money until the child reaches the age of majority — usually 18 or 21, depending on your state. The child's name and Social Security number go on the account, but you make all the decisions about deposits, withdrawals, and how the money is used.

If you want your child to open and manage their own account, the age varies by bank and account type. Most banks let teenagers open a checking account around age 13 to 16, often with a parent as a co-owner. A few banks offer accounts for children as young as 10. At 18, your child can open an account entirely on their own without a parent's involvement.

Key Takeaways

  • You can open a custodial savings account for a child at birth; you control the account until they reach the age of majority in your state.
  • Most banks allow teenagers to open a checking account between ages 13 and 16 with a parent as co-owner.
  • At 18, your child can open a bank account on their own without parental permission or involvement.
  • The specific age and requirements depend on the bank — call ahead or check their website to confirm what they offer.
  • Custodial accounts transfer to the child's full control at the age of majority, which is 18 in most states but 21 in a few.

Custodial accounts for infants and young children

A custodial account is a savings or checking account opened in your child's name, with you as the custodian. You provide the child's Social Security number and your own identification, and the bank issues the account. The money belongs to your child legally, but you have full control over it until they reach the age of majority.

Banks do not charge a minimum age to open a custodial account. You can open one the day your child is born if you have their Social Security number. Many parents use custodial accounts to hold money from relatives, save for future expenses, or teach children about banking before they're old enough to manage an account themselves.

When your child turns 18 (or 21 in some states), the account automatically converts to their name alone. At that point, you lose access and they have full control. Some banks send a notice before the conversion happens; others do not. If you want to discuss what happens next, talk to your child before their birthday so there are no surprises.

Teen checking accounts with a parent as co-owner

Most major banks offer checking accounts designed for teenagers, usually starting at age 13. These accounts typically come with a debit card and online access, and they let your teen practice managing money while you keep oversight. You become a co-owner, which means you can see the account activity and set limits on spending or withdrawals.

Some banks set the minimum age at 16 instead of 13, and a few allow accounts for children as young as 10. The best way to find out what your bank offers is to call or visit their website — age requirements are not always listed clearly online. If your current bank does not offer teen accounts, you can open one at a different bank without closing your own account.

As a co-owner, you remain on the account even after your child turns 18. You can stay involved as long as you both want, or you can ask the bank to remove yourself. Your child can also request to be the sole owner once they reach 18, though some banks require both of you to agree to the change.

What you need to open an account for a minor

To open a custodial or teen account, bring your child's Social Security number and your own government-issued ID to the bank. Some banks also ask for a second form of ID or proof of address. If you're opening the account online or by phone, you'll upload images of these documents instead of showing them in person.

Your child does not need to be present when you open a custodial account for an infant or young child. For teen accounts, some banks require your child to be there in person; others let you open it without them. Call ahead to ask what the bank requires.

If your child does not yet have a Social Security number, you can request one from the Social Security Administration before opening the account. The process takes about two weeks by mail, or you can apply in person at a local Social Security office.

Accounts your teenager can open on their own at 18

At 18, your child becomes a legal adult and can open a bank account without your involvement. They'll need a government-issued ID (driver's license, passport, or state ID) and their Social Security number. Most banks let 18-year-olds open accounts online, by phone, or in person.

If your child has been using a teen account with you as co-owner, they can keep that account or switch to a new one. Some young adults prefer to start fresh with their own account so they have complete privacy and control from the start.

Age of majority by state

The age at which a custodial account transfers to your child's full control depends on your state. In most states, this happens at 18. In a few states — including Alabama, Nebraska, and Wyoming — the age of majority is 19 or 21. Check your state's laws or ask your bank what age applies to your account.

Some banks also let you extend a custodial account past the age of majority if you and your child both agree. This is less common, but it's worth asking about if you want to keep the arrangement in place longer.

Frequently Asked Questions

Can I open a bank account for my child without their Social Security number?

No. Banks are required to collect a Social Security number or Individual Taxpayer Identification Number (ITIN) to open any account. If your child does not have a Social Security number yet, you can request one from the Social Security Administration before opening the account.

What happens to a custodial account when my child turns 18?

The account automatically converts to your child's name alone, and you lose access. You will no longer be able to see the balance or make withdrawals. The bank should notify you before this happens, but timelines vary. Talk to your child ahead of time about what will happen.

Can my teenager have a bank account without me knowing about it?

Yes, once they turn 18. Before that, most banks require a parent or guardian to be involved. Some teens open accounts at 18 without telling their parents, though this is less common. If you want to stay informed, talk to your teen about banking and encourage them to include you in financial decisions.

Do I need to close my child's custodial account when they turn 18?

No. The account stays open and simply transfers to their control. You can keep the account at the same bank or help your child move the money elsewhere if they prefer. There's no deadline to close it or take action.

Can my child have more than one bank account?

Yes. There's no limit to how many accounts a person can have. Some teens open a checking account at one bank and a savings account at another. Your child can manage multiple accounts once they turn 18, or you can help them set up more than one custodial account while they're younger.