What you can open at 13 depends on your bank and whether a parent or guardian co-signs
Most banks will not let you open an account alone at 13. You will need a parent or guardian to open a custodial account — an account held in your name but controlled by an adult until you reach the age of majority (usually 18 or 21, depending on your state). Some banks allow this; others do not offer custodial accounts at all. A few banks and credit unions have teen checking accounts designed specifically for younger teenagers, but these almost always require a parent or guardian to be a co-owner or co-signer.
The account type matters because it determines what you can do with the money. In a custodial account, the adult can see all transactions and may be able to withdraw funds. In a teen checking account, you typically have your own debit card and can make purchases, but the parent retains oversight and can set spending limits. Neither type is truly yours alone until you turn 18 or 21.
If your bank does not offer accounts for minors, you have two other paths: ask a parent to open a regular account in their name and let you use it (you would not be the legal owner), or wait until you turn 18 to open an account in your own name only.
Key Takeaways
- You cannot open a bank account by yourself at 13; you will need a parent or guardian to co-own or co-sign the account.
- Custodial accounts are held in your name but controlled by an adult, and the adult can see all transactions and sometimes withdraw money.
- Teen checking accounts let you use a debit card and make purchases, but the parent retains control and can set limits on spending.
- Not all banks offer accounts for minors, so you will need to call or visit your bank to ask what options exist.
- If your bank has no teen account, you can wait until 18 to open an account in your own name, or use a parent's account with their permission.
Custodial accounts: how they work and when they close
A custodial account is opened by a parent or guardian in your name. The adult is the custodian and has full control over the account — they can deposit money, withdraw it, and see every transaction. You can use the account to receive money (such as allowance or earnings from a job) and make purchases with a debit card, but you cannot close the account or move the money without the custodian's permission.
When you reach the age of majority in your state (18 in most states, 21 in a few), the account automatically converts to a regular account in your name alone. The custodian loses access. Some banks notify you when this happens; others do not, so mark your calendar for the month you turn 18 and contact your bank to confirm the account has transferred. If the bank does not convert it automatically, you may need to sign new paperwork.
Custodial accounts are offered by most large banks (Bank of America, Chase, Wells Fargo, Citibank) and many credit unions and online banks. Call your bank's customer service line or visit a branch to ask whether they offer custodial accounts and what the minimum deposit is. Some require $25 to $100 to open; others have no minimum.
Teen checking accounts: features and limits
Some banks market accounts specifically for teenagers aged 13 to 17. These are different from custodial accounts because they are designed to give you more independence while keeping the parent informed. You get your own debit card, online banking access, and the ability to make purchases and withdrawals. The parent can see transactions and set daily spending limits, but cannot withdraw money from your account without your permission (though they can still deposit).
Teen checking accounts often come with features aimed at teaching money management: purchase notifications sent to the parent's phone, the ability to turn the debit card on or off remotely, and savings goals you can track. Some banks charge a monthly fee ($5 to $10) for teen accounts; others waive the fee if you maintain a minimum balance or set up direct deposit.
Chase, Bank of America, and Capital One offer teen checking accounts. Credit unions often do as well. Not every branch or bank offers them, so search your bank's website for "teen checking" or call customer service to ask. If your bank does not have a teen account, you will need to use a custodial account instead.
What you need to bring to open an account
To open a custodial or teen account, you and the parent or guardian will need to visit a branch or apply online. In person, bring a government-issued photo ID (your state ID, passport, or school ID if the bank accepts it) and the adult's ID. The bank will also ask for a Social Security number for both you and the custodian, and may ask for proof of address (a utility bill or lease in the adult's name).
If you apply online, you will upload photos of your ID and the adult's ID, and enter your Social Security numbers. Some banks verify your identity instantly; others mail a confirmation letter or call to confirm before the account opens. The process usually takes one to five business days.
Bring the adult with you or have them present during the online application. The bank will not open the account without the custodian's consent and signature (or digital signature online).
Using your account before you turn 18
Once the account is open, you can use it to receive money from a job, allowance, or gifts. You can make purchases with a debit card, withdraw cash at ATMs, and transfer money between accounts (if the bank allows it). You cannot write checks unless the bank issued you a checkbook, which is rare for teen accounts.
The custodian can set rules about how you use the account. Some parents allow full access; others restrict daily spending or require approval for large purchases. These are decisions between you and the adult, not rules the bank enforces (except for the daily ATM withdrawal limit, which the bank sets).
If you want to build credit history, ask the custodian whether the bank reports the account to the credit bureaus. Most do not report custodial or teen accounts, so opening one will not help your credit score. A secured credit card (which requires a deposit and is reported to credit bureaus) is a better tool for building credit at 13, but that is a separate product from a bank account.
What happens when you turn 18
On or shortly after your 18th birthday, the custodial account converts to a regular account in your name. The custodian's access ends. You become the sole owner and can withdraw all the money, close the account, or keep it open. The bank should send you a notice before or after the conversion, but do not assume you will receive one — contact the bank yourself to confirm the account has transferred.
If the account does not convert automatically, you may need to sign new paperwork or visit a branch. Some banks require you to confirm your identity again before the conversion is complete. This usually takes a few days.
After the conversion, you can do anything with the account: add or remove authorized users, change the account type, set up automatic bill payments, or close it. The custodian has no further role unless you add them as an authorized user, which is your choice.
Alternatives if your bank does not offer teen accounts
If your bank does not offer custodial or teen accounts, you have three options. First, ask whether another bank in your area does. Credit unions often have more flexible policies than large banks, and some online banks (such as Fidelity or Ally) offer custodial accounts even if they have no physical branches.
Second, ask a parent to open a regular account in their name and let you use it. You would not be the legal owner, but you could have a debit card and access to the money. The downside is that the account is not in your name, so it will not help you build credit or establish a banking history under your own identity.
Third, wait until you turn 18. At that point, you can walk into any bank and open an account in your own name without a parent's permission. This is the simplest path if you can wait a few years and do not need a bank account right now.
Frequently Asked Questions
Can I open a bank account at 13 without a parent?
No. All banks require a parent or guardian to co-own or co-sign an account for someone under 18. You cannot open an account by yourself at 13. You will need to wait until you turn 18, or ask a parent to open one with you now.
Will a custodial account help me build credit?
No. Most banks do not report custodial or teen accounts to credit bureaus, so opening one will not affect your credit score. If you want to build credit at 13, ask about a secured credit card instead, which requires a deposit and is reported to the bureaus.
Can my parent take money out of my custodial account?
Yes. As the custodian, your parent has full control and can withdraw money at any time. This is one reason to talk with your parent about how the account will be used and what rules apply to withdrawals.
What happens to my account if my parents divorce?
The account remains in your name and the custodian's name. If your parents disagree about who should control it, a court may need to decide. Contact your bank to ask what paperwork they need if custody changes, and talk to your parents or a lawyer about how to handle the account during a custody dispute.
Can I have two bank accounts at 13?
Yes. You can open a custodial account at one bank and a teen checking account at another, or two custodial accounts at different banks. There is no law against it. However, you will need a parent to co-own both accounts, and you will have to manage two separate debit cards and online logins.