Yes, but the rules depend on your child's age and the bank

You can open a bank account for your son, but what you can actually do with it depends on how old he is and which bank you use. Most banks let you open an account for a child under 18, but you will be the account owner until he reaches the age of majority—usually 18, sometimes 21. You control the money, the card, and the decisions until then. Some banks have specific youth accounts with lower minimums and restrictions; others let you open a regular account with a parent as co-owner.

The key difference is between accounts where you are the sole owner (you hold the account in your name for his benefit) and joint accounts (both names on the account, both can withdraw). Most banks default to a joint account when a parent and minor child open together, which means you both have full access to the money. A few banks offer custodial accounts, where you are the legal custodian but the account is technically his—this matters mainly for tax purposes and when he turns 18.

Key Takeaways

  • Most banks let you open an account for a child under 18 with you as co-owner or custodian, and you control the account until he reaches the age of majority.
  • Joint accounts give both you and your son access to the money immediately; custodial accounts are legally his but you manage them until he turns 18 or 21.
  • Youth accounts often have no monthly fees, no minimum balance, and come with a debit card; some banks restrict transfers or require parental approval for certain transactions.
  • You will need your son's Social Security number, proof of identity for both of you, and proof of address to open the account.
  • When your son turns 18, the account converts to his sole control—you lose access unless he adds you as an authorized user.

What you need to bring to open the account

Bring your son's Social Security number and a form of ID for him—a birth certificate, passport, or state ID if he has one. You will also need your own ID (driver's license or passport) and proof of your address, usually a recent utility bill, lease, or mortgage statement. Some banks accept a government-issued ID as proof of address if it is current; others require a separate document. Call the bank ahead to confirm what they accept, because requirements vary.

If your son does not have a Social Security number yet, you can still open an account at some banks, but they will assign an Individual Taxpayer Identification Number (ITIN) temporarily. You will need to provide his SSN within a set period—usually 30 to 90 days—or the account may be closed. If you are opening the account online, the bank may require you to visit a branch in person with your son present, even if he is very young.

The difference between joint accounts and custodial accounts

A joint account has both your names on it from day one. You and your son can both deposit and withdraw money. Most banks set this up automatically when a parent and minor open together. The advantage is simplicity—no special paperwork, and your son can start using a debit card right away if the bank allows it. The disadvantage is that he has full legal access to the money, even though he is a minor, and you both owe taxes on any interest earned.

A custodial account is opened in your son's name, but you are the custodian—the legal manager. He does not have direct access until he turns 18 or 21 (depending on state law and the account type). You make all the decisions. The account is technically his property, which can matter for financial aid purposes later, and interest earned is taxed to him at his (usually lower) rate. Custodial accounts are less common at regular banks; you may need to ask specifically or look at investment firms if you want this structure.

Most parents choose a joint account for simplicity. If you want a custodial structure, ask the bank whether they offer it—many do not, or they only offer it for investment accounts, not checking.

Youth accounts and what they offer

Many banks have accounts designed for children and teens, often called youth accounts, student accounts, or teen checking. These typically have no monthly maintenance fee, no minimum balance requirement, and come with a debit card. Some offer a small interest rate on the balance. The trade-off is usually restrictions: you may not be able to write checks, make transfers above a certain amount, or use the card internationally without parental approval.

Some youth accounts let you set spending limits on the debit card—you control how much your son can spend per day or per transaction. Others require your approval for any transaction over a certain amount, or let you turn the card on and off from your phone. A few banks offer a parent app that shows every purchase in real time. These features vary widely, so compare what different banks offer if monitoring spending or teaching limits is important to you.

Youth accounts usually convert to a regular adult account when your son turns 18, sometimes automatically and sometimes requiring a visit to the branch. Check what happens at that point—some banks waive fees for a period after the conversion; others start charging a monthly fee unless you meet a minimum balance.

What happens when your son turns 18

On his 18th birthday, the account legally becomes his sole property. If it was a joint account, you lose access unless he adds you as an authorized user—which he can refuse to do. If it was a custodial account, your role as custodian ends, and the account becomes his to control. He can close it, move the money, or change the terms without your permission. Some banks send a notice before this happens; others do not.

If you want to maintain visibility into the account after he turns 18, you need to ask him to add you as an authorized user or to share login credentials with you. He is not required to do either. If you are concerned about his spending or want to help manage his money, have that conversation before his birthday so you can set up whatever access you both agree to.

Opening an account online versus in person

Some banks let you open a youth account entirely online; others require at least one in-person visit. Online opening is faster—usually 10 to 15 minutes—but the bank may still mail a debit card and checks, which takes 5 to 10 business days. In-person opening takes longer but you walk out with a card the same day at many banks. If your son is very young, some banks require him to be present in the branch; others let you open it with just your ID and his documents.

If you open online, you will upload photos of IDs and proof of address. The bank verifies these and may call you to confirm. If anything is unclear, they may ask you to visit a branch to complete the process. Starting in person saves this back-and-forth if you are unsure whether your documents will pass the online check.

Fees and minimum balances to watch for

Youth accounts almost always have no monthly fee and no minimum balance. Regular accounts opened for a minor may have a fee if you do not maintain a minimum balance—often $100 to $500—or if you exceed a certain number of transactions per month. Check the fee schedule before you open, because these can add up if you are not watching.

Some banks charge a fee to add a debit card, though most waive it for youth accounts. A few charge for paper statements or for going over a transaction limit. Interest rates on savings are usually very low—often 0.01% or less—so do not expect the account to earn money. If you want your son to earn interest, you may need to look at a savings account or money market account separately, though these often have higher minimums.

Frequently Asked Questions

Can I open an account for my son without him being present?

Yes, at most banks. You can open a joint account or custodial account with just your ID and his documents. Some banks require him to visit the branch in person at some point, but not necessarily at opening. Call ahead to confirm the bank's policy for your son's age.

What if my son is under 13?

You can open an account for him at any age. Most banks have no age minimum for joint or custodial accounts. A few banks restrict debit card access until age 13, but the account itself can exist. If he is very young, you will manage the account entirely until he is old enough to understand how to use it.

Will opening an account affect his credit score?

No. A checking or savings account does not appear on a credit report and does not affect credit. Credit scores are based on borrowed money and payment history, not on bank accounts. Your son will not have a credit score until he borrows money or is added as an authorized user on a credit card.

Can I transfer money from my account to his account?

Yes. You can transfer money between your account and his at the same bank instantly, or use ACH or wire transfer if the accounts are at different banks. ACH transfers usually take one to three business days. There is no limit on how much you can transfer to an account in your son's name.

What if I want to close the account before he turns 18?

You can close a joint account or custodial account at any time as the parent or custodian. The bank will return the balance to you. If it is a joint account and your son is old enough to understand, tell him what is happening. If you are closing because of misuse, have a conversation about why so he understands the consequence.