You can open a bank account at any age, but the rules change depending 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 stay on the account as a co-owner. Once you turn 18, you can open an account entirely in your own name without anyone else's permission or involvement. Some banks let you open an account at age 13 or 14 if a parent is present, while others require you to be 16 or 17. The exact age varies by bank and account type.

The account a minor can open is usually called a youth account, teen account, or custodial account. It works like a regular checking or savings account, but the parent controls it and can see all transactions. When you turn 18, you can convert it to an adult account or open a new one on your own terms.

Key Takeaways

  • Minors can open bank accounts, but a parent or guardian must be a co-owner and can monitor all activity.
  • The minimum age for a minor's account ranges from 13 to 17 depending on the bank; call ahead to confirm your bank's policy.
  • At 18, you can open a bank account without a parent's involvement or signature.
  • Youth accounts often have lower fees and limited overdraft options to protect young account holders.
  • You will need a Social Security number and proof of identity (or your parent will) to open any account.

What you need to open an account as a minor

If you are under 18, bring a parent or legal guardian to the bank in person. Most banks require this; they will not let you open an account online or by mail without an adult present. Bring your Social Security number and a form of ID—usually a school ID, passport, or state ID. Your parent will also need to show ID and provide their Social Security number.

Some banks ask for proof of address, such as a utility bill or lease in your parent's name. A few banks waive this if you already have a relationship with them—for example, if your parent banks there. Call your bank's customer service line before you go to confirm what documents to bring; requirements vary.

What you need to open an account at 18

Once you turn 18, you can walk into a bank or credit union alone and open an account. You will need your Social Security number and one form of government-issued ID—a driver's license, passport, or state ID card. That is usually all a bank requires.

If you do not have a government ID yet, some banks will accept a school ID plus a utility bill or other proof of address. A few will let you open an account online with just your Social Security number and a photo of your ID taken on your phone, though this is less common. Call ahead if you are unsure whether your ID will work.

How youth accounts differ from adult accounts

A youth account is designed to teach money management without the risk of large overdraft fees. Most youth accounts have no monthly maintenance fee and no minimum balance requirement. They often come with a debit card so you can practice spending and withdrawing money.

The main limitation is that your parent can see every transaction and can freeze or close the account. Some youth accounts also limit how much you can withdraw per day or how many transactions you can make per month. Overdraft protection—the ability to spend more than you have and pay a fee—is usually turned off on youth accounts, so your card will simply decline if you run out of money.

When you turn 18, you can ask the bank to convert the account to an adult account. This removes your parent as a co-owner and gives you full control. Some banks do this automatically; others require you to ask. If the bank does not offer conversion, you can open a new adult account and transfer your money.

Opening an account at a bank versus a credit union

Banks and credit unions both offer youth accounts, and the process is similar at both. The main difference is that credit unions are member-owned nonprofits, while banks are for-profit. Credit unions often have lower fees and higher interest rates on savings, but they may have fewer branches and ATMs.

If you belong to a credit union through a parent's job or membership, you may be able to open a youth account there. If not, you can join most credit unions by opening an account; membership and account opening happen at the same time. Ask whether the credit union has any age restrictions or membership requirements before you go.

What happens when you turn 18

Your youth account does not automatically close when you turn 18. Instead, you have the option to convert it to an adult account. The bank will remove your parent as a co-owner, and you will have full control of the money and the account.

If you want to switch banks or open a new account elsewhere, you can do that too. Transfer your money by asking the new bank to pull funds from your old account (called an ACH transfer), or withdraw cash and deposit it yourself. Close the old account once the money has moved and you have confirmed the new account is working.

Opening an account if you do not have a Social Security number

A Social Security number is the standard way banks verify your identity, but it is not the only way. If you are not a U.S. citizen or do not have a Social Security number yet, you can use an Individual Taxpayer Identification Number (ITIN) instead. An ITIN is issued by the IRS and works like a Social Security number for banking purposes.

Some banks will also accept a passport or other government ID from another country, especially if you have a parent with a U.S. bank account. Call your bank to ask what documents they will accept. If your bank refuses, try a different bank or credit union; policies vary widely.

Frequently Asked Questions

Can a 13-year-old open a bank account without a parent?

No. Anyone under 18 must have a parent or legal guardian co-own the account and be present when it opens. The parent will have access to the account and can monitor all transactions.

What if my parent will not take me to open an account?

You will need a parent or legal guardian to open a youth account. If you are in an unsafe situation, talk to a school counselor, teacher, or trusted adult about other options. Some organizations help young people in difficult circumstances, though they cannot override the legal requirement for parental involvement.

Can I open an account online if I am under 18?

Most banks require you to open a youth account in person with a parent present. A few online banks may allow it, but this is rare. Call your bank to ask whether online opening is an option.

Do I lose my money if I switch banks at 18?

No. Your money stays yours. You can transfer it to a new bank using an ACH transfer (which takes a few business days) or by withdrawing cash and depositing it yourself. Close the old account once you confirm the money arrived at the new bank.

What if I turn 18 but do not want to remove my parent from the account?

You can keep your parent on the account if you both want to. The bank will offer to convert it to an adult account, but you can decline. Your parent will continue to see all transactions and have access to the money.