Yes, but with a parent or guardian as co-owner

You can open a bank account before age 18, but most banks require a parent or legal guardian to be a joint account holder. The account will be in both your names, and your parent or guardian will have full access to it—they can see transactions, withdraw money, and close the account. Some banks call this a "youth account" or "teen account"; others simply open a regular joint checking or savings account.

A few banks and credit unions offer accounts for minors without a co-owner, but these are less common and usually come with restrictions: lower withdrawal limits, no overdraft protection, or limited access to certain features. You will need to ask your specific bank what they offer.

The age at which you can open an account alone varies by bank and state, but most allow it at 18. A handful permit it at 17 with parental consent, and a very small number at 16—but these are exceptions, not the rule.

Key Takeaways

  • Most banks require a parent or guardian to co-own the account with you until you turn 18, giving them full access to your money and transactions.
  • Some banks offer youth or teen accounts with lower limits on withdrawals or transfers, designed specifically for minors.
  • At 18, you can convert a joint account to your name alone, or open a new account in your name only, depending on the bank's policy.
  • You will need a Social Security number and a government-issued ID (or your parent's ID if you do not have one) to open any account.
  • Credit unions sometimes have different rules than traditional banks, so it is worth asking what your local credit union offers.

What documents you need to bring

To open an account before 18, bring your Social Security number and a form of ID. If you have a government-issued ID—a state ID, driver's license, or passport—bring that. If you do not, your parent or guardian's ID will usually work in its place, since they are signing the paperwork anyway.

Some banks also ask for proof of address, such as a utility bill or lease in your parent's name. A few may ask for your school ID or a report card, though this is less common. Call your bank ahead of time to ask what they need; it saves a trip.

If you are opening the account online, you may be able to skip the in-person visit. Many banks now allow you to upload photos of your ID and sign documents electronically. Your parent or guardian will still need to verify their identity and sign, usually through the same online process.

How a joint account works once you turn 18

When you turn 18, you have options. Some banks automatically convert the account to your name alone on your birthday. Others require you to visit a branch or call to remove your parent or guardian as a co-owner. A third group leaves it as a joint account unless you ask to change it.

If the account stays joint after you turn 18, your parent or guardian retains full access unless you go to the bank and formally remove them. This is an important step if you want privacy: your parent will still be able to see every transaction and withdraw money. If you want to close the account and open a new one in your name only, that is also an option, though you may lose any account history or rewards tied to the original account.

Ask your bank now what their policy is. Some banks make this transition automatic and painless; others require paperwork. Knowing in advance prevents surprises.

Banks and credit unions with youth account options

Most major banks offer some form of youth or teen account. Chase, Bank of America, Wells Fargo, and Citibank all have programs, though the details vary. Chase's "Chase First Banking" account, for example, requires a parent or guardian to be a co-owner and includes a debit card. Bank of America's "BankAmericard for Students" is designed for ages 13 and up but still requires a parent or guardian.

Credit unions often have more flexible rules. Many allow minors to open accounts with a parent present but do not require co-ownership in the same way. Some credit unions also offer lower fees or no minimum balance requirements for youth accounts. If you belong to a credit union through your school, employer, or family membership, ask what they offer.

Online banks like Chime, Ally, and SoFi generally do not offer accounts for minors under 18, even with a co-owner, because they cannot verify identity in person. Stick with a traditional bank or credit union if you are under 18.

Why your parent or guardian must co-own the account

Banks require a co-owner because minors cannot legally sign binding contracts in most states. A bank account is a contract between you and the bank. Your parent or guardian signs on your behalf, making the contract valid. They also become responsible if you overdraw the account or if there is a dispute.

This is also why your parent or guardian has full access. They are not just supervising—they are legally liable. If you withdraw money and do not repay an overdraft, the bank can pursue your parent for the debt. This shared responsibility is why banks insist on it.

Once you turn 18, you can sign contracts yourself, so the co-owner is no longer legally necessary. That is why most banks allow you to remove them at that point.

What happens if your parent or guardian refuses to co-own

If your parent or guardian will not go to the bank with you, you cannot open an account at a traditional bank or credit union. There is no legal workaround for this—the bank will not open an account for a minor without a co-owner or authorized representative.

Your options are limited. You could ask another trusted adult—a grandparent, older sibling, aunt, or uncle—to co-own the account instead. They would have the same access and responsibility as a parent would. Alternatively, you could wait until you turn 18 to open an account in your name alone.

Some young people use prepaid debit cards or savings apps designed for teens, which do not require a bank account. These are not the same as a bank account—your money is not FDIC-insured, and you have fewer protections—but they can serve as a temporary tool for saving or receiving paychecks.

How to move to your own account at 18

A few weeks before your 18th birthday, contact your bank and ask what happens automatically and what requires your action. Some banks send a notice; others do not. Do not assume the account will convert on its own.

If you want to keep the same account, ask the bank to remove your co-owner and update the account to your name alone. This usually takes a few days. If you want to open a new account in your name only, you can do that at any time after you turn 18—you will need your ID and Social Security number, just as you did before.

If you are moving to a different bank, you can transfer money from the old account to the new one using a wire transfer or ACH transfer. Your old bank can walk you through this. Close the old account once the money has arrived in the new one.

Frequently Asked Questions

Can I open an account without telling my parent or guardian?

No. Banks require a co-owner or authorized representative to sign the paperwork, and that person must be present or verify their identity online. You cannot open an account without their knowledge or consent.

What if I want to hide money from my parent or guardian?

A joint bank account is not the tool for this. Your co-owner has full access. If you need privacy, wait until you turn 18 and open an account in your name alone. Until then, a joint account means shared visibility.

Can my older sibling co-own the account instead of my parent?

It depends on the bank. Most require the co-owner to be a parent or legal guardian, but some allow any adult over 18. Call your bank and ask. If your sibling can co-own, they will have the same access and responsibility as a parent would.

Do I need a Social Security number to open an account?

Yes, in the United States. Banks use your Social Security number to report interest earned and to check your banking history. If you do not have a Social Security number, you cannot open a bank account.

What is the difference between a youth account and a regular joint account?

A youth account is usually a regular joint account with a different name and sometimes lower limits on withdrawals or transfers. The mechanics are the same: your parent or guardian is a co-owner with full access. The main difference is marketing and sometimes a lower minimum balance requirement.