Yes, 13-year-olds can have a bank account, but with restrictions
A 13-year-old can open and use a bank account in the United States, but not independently. Banks require a parent or legal guardian to co-own the account, sign all paperwork, and retain control until the child reaches the age of majority (18 in most states, 19 in Alabama and Nebraska, 21 in Mississippi). The account itself belongs to both of you jointly, which means you can see all transactions, set spending limits, and freeze or close it at any time.
The type of account available to a 13-year-old depends on the bank. Most major banks offer youth savings accounts or teen checking accounts designed specifically for this age group. These accounts typically come with a debit card, online banking access, and parental controls built in. Some banks allow the teen to manage the account through a mobile app while the parent monitors activity through their own app or online portal.
A few banks allow minors as young as 13 to open accounts without a parent present, but the parent must still be listed as a joint owner and must verify their identity and sign consent forms. No bank will open an account for a 13-year-old without parental involvement, regardless of how much money the child has or who is funding it.
Key Takeaways
- A 13-year-old needs a parent or legal guardian to co-own the account and sign all paperwork; the account cannot be opened in the child's name alone.
- Most banks offer youth or teen checking and savings accounts with debit cards, online access, and parental monitoring tools built in.
- The parent retains full legal control of the account and can view all transactions, set spending limits, and close the account at any time.
- Different banks have different minimum balance requirements, fees, and features, so comparing options before opening an account saves money and frustration.
- The account remains joint until the child reaches the age of majority, at which point the parent can be removed and the account becomes the child's alone.
What banks require to open a youth account
To open an account for a 13-year-old, bring the parent's government-issued photo ID (driver's license, passport, or state ID), proof of the parent's current address (utility bill, lease, or mortgage statement dated within the last 60 days), and the child's Social Security number. Some banks also ask for the child's birth certificate or school ID, though this is less common.
Both the parent and the child usually need to be present at the bank branch, though some banks now allow the parent to start the process online and complete it in person, or to complete it entirely online with a video call. Call ahead to ask whether your bank requires both of you to show up or whether one parent can open the account alone.
The parent will sign a signature card and consent form stating that they authorize the account and accept responsibility for it. The child may also sign a signature card so the bank has their signature on file, but this is not always required. No credit check is run on a 13-year-old, and no credit history is needed.
Checking versus savings accounts for teens
A teen checking account comes with a debit card and is designed for regular spending and bill payments. The child can withdraw cash from ATMs, make purchases online and in stores, and set up automatic payments. Most teen checking accounts have no monthly fee if the account stays above a minimum balance (often $0 to $100) or if direct deposit is set up. Some banks waive fees entirely for accounts opened before age 18.
A teen savings account earns interest on the balance and is meant for money the child is not spending right away. Interest rates vary widely—some accounts earn less than 0.01% annually, while high-yield savings accounts at online banks may earn 4% to 5%. The tradeoff is that savings accounts usually limit how many withdrawals you can make per month (often six), whereas checking accounts have no withdrawal limit. Many families open both: a checking account for the child's spending money and a savings account for money they are saving toward a goal.
Some banks offer a hybrid account that combines features of both, with a debit card and interest earnings. Ask your bank whether the teen account earns interest and whether there are withdrawal limits before you open it.
Parental controls and monitoring tools
Most banks that offer teen accounts include parental controls in their mobile app or online banking portal. These tools let you see every transaction in real time, set daily spending limits on the debit card, turn the card on or off remotely, and receive alerts when the child makes a purchase or withdraws cash. Some banks allow you to block certain types of transactions (like online gambling or alcohol purchases) or restrict where the card can be used (for example, only at grocery stores or gas stations).
The level of control varies by bank. Some apps show you the merchant name and amount but not the category of purchase, while others break down spending by category (food, entertainment, gas) so you can see where the money is going. A few banks let you set up automatic allowance transfers on a set day each week or month, which teaches the child about budgeting without you having to hand over cash.
Ask the bank to show you the parental controls before you open the account. If monitoring tools are important to you, compare what different banks offer—some are much more detailed than others.
Fees and minimum balances to watch for
Many banks charge no monthly maintenance fee for teen accounts, but some do. Common fees include a monthly account fee (usually $5 to $15), overdraft fees (charged if the account goes negative, typically $25 to $35), ATM fees (if you use an out-of-network ATM), and foreign transaction fees (if the card is used outside the United States). A few banks charge a fee to replace a lost or damaged debit card, though most waive this for the first replacement.
Minimum balance requirements also vary. Some banks require $0 to open and maintain the account, while others require $100 to $500. If the balance falls below the minimum, the bank may charge a fee or close the account. Check the account terms before you open it so you know what to expect.
Online banks and credit unions often have lower fees and higher interest rates than large national banks, but they may not have physical branches where you can deposit cash or get help in person. Weigh convenience against cost based on your family's needs.
When the account transitions to the child's name alone
When the child reaches the age of majority (18 in most states), the account does not automatically become theirs alone. The parent must take action to remove themselves from the account. This usually involves visiting the bank in person or calling and requesting that the parent's name be removed from the account title. Once the parent is removed, the child becomes the sole owner and the bank no longer shares information with the parent.
Some families keep the account joint even after the child turns 18, which allows the parent to continue monitoring spending or helping manage money. This is a choice you and your child can make together. If you do keep it joint, be aware that the parent retains legal access to the account and can withdraw funds or close it at any time, even without the child's permission.
If the child wants to move the account to a different bank after turning 18, they can do so without the parent's permission. They can also open new accounts in their name alone at that point. Some teens choose to keep the original account and add new ones as their financial needs change.
Frequently Asked Questions
Can a 13-year-old use the account without the parent present?
Yes. Once the account is open, the 13-year-old can use the debit card to make purchases, withdraw cash from ATMs, and access the account through a mobile app or online banking. The parent does not need to approve each transaction. However, the parent can set spending limits or turn off the card remotely if needed.
What happens if the account goes negative?
If the child spends more than is in the account, the bank may decline the transaction (most teen accounts do not allow overdrafts). If the account does go negative, the bank will charge an overdraft fee, usually $25 to $35. The parent is responsible for paying the negative balance, not the child.
Can a 13-year-old have a credit card instead of a debit card?
No. Credit card companies do not issue cards to anyone under 18, and even then, applicants must be 18 and have a source of income or a co-signer. A debit card is the only card option for a 13-year-old. Some banks offer prepaid cards as an alternative, though these are not linked to a bank account and do not build credit history.
Does opening a bank account affect the child's credit score?
No. Opening a checking or savings account does not create a credit report or affect credit score. Credit scores are based on borrowing and repayment history, not on bank accounts. A 13-year-old with a bank account will still have no credit history until they borrow money (through a loan or credit card) and repay it.
Can the parent be removed from the account if the child wants privacy?
Not until the child reaches the age of majority. Before that, the parent is the legal owner and must remain on the account. Once the child turns 18, they can request that the parent be removed, and the bank will honor that request. At that point, the parent will no longer have access to the account or see transactions.