Key Takeaways
- You can open a checking or savings account at 15 with a parent or guardian as a co-owner or co-signer, but the bank sets the minimum age.
- Bring a government-issued ID (passport, state ID, or learner's permit), proof of address, and your Social Security number to the bank.
- Some banks offer teen accounts with limited features or lower fees; others treat a teen account the same as an adult account once a parent signs.
- Your parent or guardian will have full access to the account and can see all transactions, deposits, and withdrawals.
- Once you turn 18, you can remove the co-owner or convert the account to your name alone without closing it.
What Banks Require to Open an Account at 15
You need to bring your parent or guardian to the bank in person. Most banks will not open an account for a minor without a parent or legal guardian present, and some require that person to be a joint owner of the account from the start. A few banks allow a parent to sign remotely, but this is less common.
Bring your government-issued ID — a passport, state ID, or learner's permit all work. You'll also need your Social Security number and proof of your address, which can be a utility bill, lease, or school document in your name or your parent's name. The bank will verify this information before opening the account.
Ask the bank whether they have a minimum age requirement. Some banks allow accounts at 15; others require you to be 16. A few have no stated minimum but may refuse in practice. Calling ahead or checking the bank's website saves a trip if they don't serve your age group.
How a Joint Account Works When You're a Minor
When your parent or guardian is a co-owner, they have the same access to the account as you do. They can see every transaction, deposit, and withdrawal. They can also withdraw money, close the account, or change account settings without your permission. This is standard — the bank treats both owners as having equal rights.
You can use the account to receive paychecks from a job, deposit birthday money, or save for something you're working toward. Your parent can also deposit money into the account for you. If the account has a debit card, you can use it to make purchases or withdraw cash at ATMs, but your parent will see those transactions on the statement.
Some banks set limits on teen accounts — for example, a cap on daily ATM withdrawals or a requirement that the parent approve certain transactions. Read the account agreement to see what limits apply. These rules vary widely, so two banks may offer very different teen accounts.
Types of Accounts Available at 15
Most banks offer a standard checking account for teens, which works like an adult checking account but with a parent as co-owner. You get a debit card, online banking access, and the ability to write checks (if the account includes a checkbook). Some banks charge a monthly fee for teen checking accounts; others waive the fee if you maintain a minimum balance or set up direct deposit.
Savings accounts are also available at 15 and work the same way — your parent is a co-owner, and you can deposit and withdraw money. Interest rates on savings accounts vary by bank and change over time, so compare rates if you're planning to keep money in savings for a while.
A few banks offer accounts designed specifically for teens, with features like parental controls, spending limits, or financial education tools. These accounts may have different fee structures or require the parent to manage certain settings. Ask whether the bank has a teen-specific product before you open a standard account.
What Happens When You Turn 18
Once you turn 18, you become a legal adult and can own an account in your name alone. You have two options: keep the account as a joint account with your parent (if you both want to), or remove them as a co-owner and convert it to a solo account. The bank can do this without closing the account or changing the account number.
If you remove your parent, they will no longer see your transactions or have access to the account. You'll be solely responsible for managing it. If you keep it as a joint account, your parent retains full access unless you later remove them.
Some banks automatically convert teen accounts to adult accounts on the account holder's 18th birthday. Others require you to request the change. Check your account agreement or call the bank to find out what happens in your case.
Banks That Offer Accounts for 15-Year-Olds
Major national banks vary in their policies. Chase allows checking accounts for customers 15 and older with a parent or guardian as a co-owner. Bank of America has a similar policy. Wells Fargo requires customers to be 16. Credit unions often have lower minimum age requirements and may allow accounts at 15 or even younger with a parent present.
Online banks like Ally, Charles Schwab, and Discover generally do not offer accounts for minors under 18, because they require remote account opening and cannot verify identity in person. If you want to use an online bank, you may need to wait until you're 18.
Local and regional banks vary widely. Some welcome teen customers; others do not. Call your bank or visit a branch to ask about their policy before you go in with your parent.
Documents to Bring to the Bank
Bring your government-issued ID (passport, state ID, or learner's permit). Bring your Social Security number — you can write it down or have it memorized. Bring proof of your address, such as a utility bill, lease, school document, or bank statement in your name or your parent's name. If you don't have a document in your name, your parent's address proof will work.
Bring your parent or guardian and their ID as well. They will need to sign documents and may need to provide their own proof of address if it differs from yours. Some banks also ask for a phone number and email address, so have those ready.
If you have a job and want to set up direct deposit, bring a recent pay stub or ask your employer for your bank routing number and account number once the account is open. You can add direct deposit later, so it's not necessary to have this information on the day you open the account.
Frequently Asked Questions
Can I open a bank account at 15 without a parent?
No. Banks require a parent or legal guardian to co-sign or be a joint owner for anyone under 18. You cannot open an account alone at 15, even if you have a job or your own income. You'll need to wait until you turn 18 to open an account in your name only.
Will my parent see all my transactions?
Yes, if they are a co-owner of the account. They have the same access you do and can see every deposit, withdrawal, and purchase made with the debit card. This is standard for joint accounts. If privacy is a concern, talk to your parent about what they plan to monitor.
Can I get a debit card at 15?
Most banks will issue a debit card for a teen checking account. The card works like an adult debit card — you can use it to make purchases and withdraw cash at ATMs. Some banks set daily spending or withdrawal limits on teen debit cards, so ask the bank what limits apply to yours.
What if my bank doesn't allow accounts for 15-year-olds?
Try a different bank or a local credit union, which often have lower minimum age requirements. You can also wait until you turn 16 or 18, depending on the bank's policy. Call ahead to confirm the bank's minimum age before you visit with your parent.
Do I need a job to open a bank account at 15?
No. You can open a bank account at 15 whether or not you work. Banks do not require proof of income for teen accounts. You can deposit money from any source — a job, birthday gifts, allowance, or savings.