Yes, but with a parent or guardian as a co-owner

Most banks let you open a checking or savings account at 14, but they require a parent or guardian to be a joint account holder. You cannot open an account in your name alone until you reach the age of majority in your state—usually 18, sometimes 19 or 21. The adult on the account has full access to the money and can make decisions about the account, though many banks let you manage it online or through an app once it is set up.

Some banks have accounts designed specifically for teenagers, with features like spending limits, parental controls, and lower or no monthly fees. Others let you open a standard account with an adult co-owner. The rules vary by bank, so you will need to check with the specific institution you want to use.

Key Takeaways

  • You need a parent or guardian to co-own the account with you; you cannot open one alone at 14.
  • Bring a government-issued ID (school ID, passport, or state ID), proof of address, and your Social Security number to the bank.
  • Teen accounts often have lower fees and spending controls, but standard accounts work too if a parent is willing to co-own.
  • The adult on the account can see all transactions and withdraw money, so choose someone you trust.

What documents you need to bring

Bring your Social Security number, a form of government-issued ID, and proof of your address. A school ID counts as ID at most banks, though some prefer a state ID or passport. For proof of address, bring a utility bill, lease, or bank statement in your name or your parent's name at your current address.

Your parent or guardian will need to bring their own ID and proof of address as well. Some banks ask for both pieces of ID to be government-issued; others accept a school ID from you if the adult has a state ID or passport. Call the bank ahead of time to confirm what they accept, because requirements vary.

Teen accounts versus standard accounts

Many large banks—Chase, Bank of America, Wells Fargo, and others—offer accounts marketed to teenagers. These often come with no monthly maintenance fee, no minimum balance requirement, and parental controls that let your parent set daily spending limits or get alerts when you use the card. Some include a debit card; others do not.

A standard checking or savings account works just as well if your parent is willing to co-own it. The difference is that teen accounts are designed with your situation in mind, so they tend to have fewer fees and more straightforward rules. If you plan to use the account mainly for saving or receiving allowance, a standard savings account may be simpler. If you want a debit card to spend money, a teen checking account is usually the better choice.

What happens to the account when you turn 18

When you reach 18, the account remains open and active. You become a full account holder in your own right, and your parent can remove themselves as a co-owner if you both want that. Some banks make this automatic; others require you to visit a branch or call to remove the co-owner. You can also leave the account as is, with both of you remaining on it.

At 18, you can also open new accounts in your name alone without a co-owner. Many people keep their teen account and open additional accounts for different purposes—a savings account at a different bank, a high-yield savings account, or a credit card to build credit history.

How to choose between banks

Compare the monthly fee (many teen accounts have none), the minimum balance requirement, whether a debit card is included, and whether the bank has branches near you. If you plan to deposit checks or withdraw cash regularly, a bank with physical locations matters. If you only use online banking and ATMs, an online bank or credit union may offer better interest rates on savings.

Check whether the bank charges overdraft fees if you spend more than you have, and whether they offer parental controls if that matters to you. Read reviews from other teenagers or parents to see what problems people run into. Some banks are known for good customer service; others have a reputation for surprise fees.

Opening the account in person or online

Most banks let you start the process online, but you will need to visit a branch in person to finish it. Bring your documents and your parent or guardian with you. The appointment usually takes 15 to 30 minutes. The bank will verify your identity, confirm your address, check your Social Security number against their records, and set up the account.

Some online banks and credit unions let you complete the entire process online using a video call with a representative, though this is less common for accounts with a minor. If you go this route, you will still need your parent present and both of you will need to verify your identity through the video call. Ask the bank whether they offer this option before you visit.

What you can and cannot do with a teen account

You can deposit money, withdraw cash at ATMs, use a debit card to make purchases, and check your balance online. You cannot take out a loan, open a credit card, or overdraft the account (most teen accounts do not allow overdrafts). Your parent can see all transactions, set spending limits, and receive alerts when you use the card.

You cannot close the account without your parent's permission. If you want to move money to a different bank or stop using the account, you will need to ask your parent to help you close it or transfer the funds. This is one reason to choose a bank you are comfortable with—you will likely be using it for several years.

Frequently Asked Questions

Can I open a bank account at 14 without a parent?

No. Banks require a parent or guardian to co-own the account with you until you reach the age of majority in your state, which is usually 18. You cannot open an account in your name alone at 14.

What if my parent does not want to co-own the account?

Some banks let a guardian or other trusted adult co-own instead of a parent. If neither is available, you will need to wait until you turn 18 to open an account on your own. A few credit unions have different rules, so it is worth calling around.

Do I need a Social Security number to open a bank account?

Yes. Banks are required to collect your Social Security number as part of opening any account. If you do not have one, you can request one from the Social Security Administration before you go to the bank.

Will opening a bank account affect my credit score?

No. Opening a checking or savings account does not build or hurt your credit score. Credit scores are based on borrowing and repayment history, not on deposit accounts. A bank account is separate from credit.

Can I use my school ID as proof of identity at the bank?

Most banks accept a school ID, but some prefer a state ID or passport. Call ahead to confirm what the specific bank accepts. Your parent will likely need a government-issued ID like a driver's license or passport.