The short answer: it depends on your age and the bank
If you are under 18, most banks require a parent or legal guardian to open an account with you or to co-own it. A few banks and credit unions allow minors to open accounts independently starting at age 13 or 14, but these are exceptions. If you are 18 or older, you can open an account on your own without anyone else present.
The rule exists because minors cannot legally sign binding contracts in most states, and a bank account is a contract. A parent's signature makes the account legally valid. Some institutions have found ways around this by letting a minor be the primary account holder with a parent as a co-owner, or by treating the account as belonging to the minor with parental permission documented in writing.
Key Takeaways
- Most banks require a parent or guardian to co-sign or co-own any account opened by someone under 18.
- A handful of banks and credit unions offer teen checking accounts that minors can open independently starting at age 13 or 14, though a parent must still verify identity.
- At 18, you can walk into any bank and open an account on your own with just an ID and proof of address.
- If your parent will not help you open an account, a school credit union or a bank that serves minors independently may be your fastest option.
What happens when you are under 18
Banks treat accounts for minors in two main ways. The first is a joint account, where both you and your parent are listed as owners. Either of you can deposit or withdraw money, and the bank reports the account to both of your credit histories. The second is a custodial account, where you are the owner but your parent is the custodian—meaning they have legal control until you turn 18 or 21, depending on state law and the bank's rules.
In both cases, your parent must be present or must sign documents to open the account. They will need to bring their own ID and proof of address. Some banks now allow parents to sign documents remotely using a mobile app or by video call, which means you do not have to go to a branch together.
The account will have restrictions. Many banks limit how much you can withdraw per day, how many transactions you can make per month, or what types of transactions (like wire transfers) you can do. These limits are meant to protect you from fraud and from spending money you do not intend to spend.
Banks and credit unions that let minors open accounts without a parent present
A small number of institutions have created accounts specifically for teenagers that do not require a parent to be present at opening, though a parent must still verify your identity by phone or online. These include some online banks and credit unions, though the list changes and varies by state.
Greenlight, for example, is a debit card and app designed for minors and does not require a parent to be physically present, but a parent must set up the account and link their own payment method. Fidelity Youth Account works similarly—the minor can have the account, but a parent must open it. These are not traditional bank accounts; they are spending and savings tools that work like accounts but may not build credit history or offer all the features of a full checking account.
Credit unions sometimes have more flexibility than large banks. If your school has a credit union or if you belong to a credit union through a parent's employer, call and ask whether they offer teen accounts. Some will let a minor open an account at age 13 or 14 with parental consent given over the phone rather than in person.
What you need at 18 to open an account alone
Once you turn 18, you are legally an adult and can sign contracts. You can walk into any bank or credit union and open a checking or savings account without anyone else present. You will need a government-issued photo ID (a driver's license, passport, or state ID card) and proof of your current address.
Proof of address can be a utility bill, lease, mortgage statement, or a piece of mail from a government agency dated within the last 60 days. Some banks will accept a student ID if it shows your current address, though this varies. If you do not have proof of address, ask the bank what documents they will accept—some will take a phone bill or a bank statement from another institution.
You will also need to provide your Social Security number so the bank can run a background check and report the account to credit bureaus. If you do not have a Social Security number, you can still open an account, but the bank will ask for an Individual Taxpayer Identification Number (ITIN) or will use an alternative verification process.
If your parent will not help you open an account
If you are under 18 and your parent refuses to help, your options are limited but not zero. A school credit union is often the easiest path—call your school's financial aid office or business office and ask if there is a credit union on campus or one that serves students. These institutions sometimes have more flexibility with parental requirements or may have staff who can advocate for you if there are safety concerns.
Some banks have a process for minors whose parents cannot be reached or whose parents are unfit. This usually requires documentation—a letter from a school counselor, social worker, or other adult who can verify that you need an account and that a parent is unavailable. The bank will not open the account without this documentation, but it is worth asking.
If you are in foster care or have a court-appointed guardian, that guardian can open an account with you the same way a parent would. If you are emancipated (legally declared an adult before age 18), you can open an account on your own with your emancipation papers as proof.
If none of these options work and you are in immediate financial need, a prepaid debit card does not require a bank account and does not require a parent's signature. You can buy one at a drugstore or grocery store with cash. It is not a substitute for a bank account—you will not build credit, and fees are higher—but it lets you store money safely and make purchases online.
How a joint account affects your credit and money
If you open a joint account with a parent, the account appears on both of your credit reports. This means your parent's banking behavior affects your credit score, and your behavior affects theirs. If your parent misses payments or overdrafts the account, it can hurt your credit. If you build a good history of deposits and no overdrafts, it can help both of you.
Money in a joint account legally belongs to both of you. If your parent has debts or legal judgments against them, a creditor can sometimes freeze or seize money in a joint account, even if you deposited it. This is rare but possible. If you are concerned about this, ask the bank whether they offer a custodial account instead, where you are the owner and your parent is only the custodian.
When you turn 18 or 21 (depending on the bank and your state), a custodial account automatically converts to an account in your name alone. A joint account stays joint unless you and your parent go to the bank and change it. If you want to remove your parent from the account after you turn 18, you can do this, but your parent will have to agree or the bank may require a court order.
What to bring to the bank
| If you are under 18 | If you are 18 or older |
|---|---|
| Your government-issued photo ID | Your government-issued photo ID |
| Your Social Security number or ITIN | Your Social Security number or ITIN |
| Your parent or guardian's government-issued photo ID | Proof of current address (utility bill, lease, or recent mail) |
| Your parent or guardian's Social Security number | |
| Proof of your current address (or your parent's, depending on the bank) |
Frequently Asked Questions
Can I open a bank account at 16 or 17 without my parent?
Most banks will not let you. A few credit unions and online services designed for teens allow it, but a parent must still verify your identity by phone or online. Call your school credit union or ask your bank directly—policies vary by location and institution.
What if I am 18 but my parent wants to co-own my account?
You can add your parent as a co-owner after you open the account on your own, or you can open a joint account together from the start. Either way, you have the legal right to do this at 18. Your parent cannot force you to add them, and you can remove them later.
Does a custodial account hurt my credit?
No. A custodial account is reported to your credit history, and on-time deposits and no overdrafts help build your credit. Your parent's credit is not affected by a custodial account because they are not the owner—they are only the custodian.
What happens to a joint account when I turn 18?
The account stays joint unless you change it. You can go to the bank and remove your parent, but they must agree or the bank may require a court order. A custodial account automatically converts to your name alone at age 18 or 21, depending on state law.
Can I open an account online if I am under 18?
Some online banks let you start the process online, but a parent must verify their identity and sign documents before the account is opened. You cannot complete the entire process without a parent's involvement if you are under 18.