You can open a bank account at any age, but the rules change based on whether you're a minor or an adult
A child under 18 can have a bank account, but a parent or guardian must open it and co-own it with them. The adult on the account has full access to the money and can make decisions about it. Once you turn 18, you can open your own account without a parent's permission or involvement.
The specific age at which a child can start using the account independently varies by bank. Some banks let kids as young as 13 use a debit card and online banking on a parent-controlled account. Others require the child to be 16 or older. A few banks have no minimum age for the account itself but require a parent to manage it until the child reaches a certain age—often 18, sometimes 21.
Key Takeaways
- Children under 18 need a parent or legal guardian to open and co-own a bank account with them.
- The age at which a child can use a debit card or access online banking on their own ranges from 13 to 16 depending on the bank.
- At 18, you can open your own account without parental involvement, though some banks may still require a parent's signature if you're under 21.
- Accounts opened for minors often have limits on daily spending, transfers, or ATM withdrawals that the parent can adjust.
- When you turn 18, you can request to remove the parent from the account or open a separate account in your name alone.
How accounts work for children under 18
A parent or legal guardian must be present when opening an account for a child. The adult provides their own identification and Social Security number, and the child provides theirs (or the parent provides the child's Social Security number if the child doesn't have one yet). Both names appear on the account, and both are legally responsible for it.
The parent controls the account until the child reaches the age the bank sets for independence. During this time, the parent can see all transactions, set spending limits, and decide whether the child can use online banking or a debit card. Some banks allow the child to have a debit card as early as age 6 or 7, though the card is typically linked to the parent's phone for monitoring. Others don't issue a card until the child is a teenager.
Many banks offer accounts specifically designed for minors, sometimes called youth accounts or teen accounts. These accounts often come with parental controls built in—features that let the parent set daily spending limits, restrict certain types of transactions, or require approval for large purchases. The parent receives alerts when the child makes a transaction, and can freeze the card if needed.
What happens when you turn 18
At 18, you become a legal adult and can open a bank account entirely in your own name. You no longer need a parent's permission or signature. However, if you already have an account that was opened as a minor, the parent's name remains on it unless you take action to remove them.
You have two options: you can ask the bank to remove the parent from the existing account, making you the sole owner, or you can open a new account in your name alone and transfer your money. Some banks make this transition automatic at 18, removing the parent and converting the account to an adult account. Others require you to visit a branch or call to request the change. Check with your bank about their specific process.
If the parent remains on the account after you turn 18, they still have access to see balances and transactions, and can still withdraw money. This is why many young adults choose to open a separate account once they reach 18, especially if they want financial privacy from their parents.
Opening your first account as an 18-year-old
When you turn 18, you can walk into any bank or credit union and open an account on your own. You'll need a government-issued photo ID (a driver's license, state ID, or passport) and your Social Security number. Some banks also ask for a second form of ID or proof of address, such as a utility bill or lease.
Online banks have made this even simpler—many let you open an account entirely through their website or app without visiting a branch. You'll upload a photo of your ID and provide your Social Security number. The account is usually active within a few minutes to a few hours.
At 18, you can also open a joint account with someone else if you choose—a roommate, spouse, or business partner. Both people's names appear on the account, and both have full access. This is different from a minor's account, where one person (the parent) has control and the other (the child) has limited access.
Age requirements for specific account features
Some features of a bank account have their own age rules, separate from the account itself. A debit card can usually be issued to a minor if a parent is on the account, though the age varies. A credit card, however, requires you to be 18 and have a Social Security number. If you're under 21, some credit card companies require a parent to co-sign or show proof of income.
A savings account for a child works the same way as a checking account—a parent must open it and co-own it. However, savings accounts often have fewer restrictions on the child's access because they're designed for long-term saving rather than daily spending. Some banks let a child access a savings account independently at a younger age than a checking account.
Certain accounts, like money market accounts or certificates of deposit (CDs), may have minimum age requirements of 18 or older, even if a parent is involved. This is less common, but it's worth asking your bank if you're interested in these products as a minor.
What to know about accounts for teenagers
Many banks offer teen accounts starting at age 13, designed to teach money management while keeping the parent in control. These accounts typically come with a debit card, online banking access, and parental monitoring tools. The parent can set daily spending limits (often $50 to $500, depending on the bank), restrict certain merchants, or require approval for purchases over a certain amount.
Teen accounts are useful if you want to give your child real-world experience with money—they can make purchases, see their balance, and understand how transactions work—while you maintain oversight. However, the parent's name remains on the account, and the parent can still access all the money. This is not a way to give a teenager complete financial independence.
If you're a teenager and your bank doesn't offer a teen account, you can still have a regular account opened by your parent. The features and controls will depend on what your specific bank offers. Ask your bank what options are available for your age.
Frequently Asked Questions
Can a child open a bank account without a parent?
No. Anyone under 18 must have a parent or legal guardian open the account and co-own it. The adult's name and Social Security number are required on the account. Once you turn 18, you can open an account entirely on your own.
What if I'm 18 but my parent won't let me remove them from my account?
At 18, you are a legal adult, and the bank will remove your parent from the account if you request it in person or in writing. You don't need your parent's permission. Visit your bank's branch with your ID and ask to remove the other owner from the account. The bank will handle it.
Can I have a bank account at age 10?
Yes, but only if a parent or guardian opens it with you. Your parent's name will be on the account along with yours, and they will have full control. You may be able to use a debit card or online banking depending on the bank's rules, but your parent can see all transactions and set limits on spending.
Do I need a Social Security number to open a bank account as a minor?
Yes. The bank needs your Social Security number to open the account. If you don't have one yet, your parent can apply for one at the Social Security Administration office before opening the account. The process takes a few weeks.
What's the difference between a teen account and a regular account for minors?
A teen account is a specific product designed for teenagers, usually starting at age 13, with built-in parental controls and a debit card. A regular account opened for a minor works the same way legally—a parent co-owns it—but may not have as many features designed specifically for teens. Both require a parent to open and co-own the account.