Minimum age requirements vary by bank and account type

Most banks require you to be at least 18 years old to open an account in your own name. However, many banks and credit unions offer accounts for minors—usually starting at age 13—with a parent or guardian as a co-owner or custodian. Some institutions have no stated minimum age if a parent opens the account on behalf of a child.

The exact rules depend on the bank's own policy, not federal law. A bank that requires 18 might sit next to one that opens accounts for 14-year-olds. If you are under 18, call the bank directly or check their website for their specific age policy before visiting a branch.

If you are 18 or older, you can open an account at nearly any bank or credit union without a parent present. You will need a government-issued ID and proof of address, but age itself will not be a barrier.

Key Takeaways

  • You must be 18 to open a bank account in your own name at most institutions, but many allow minors aged 13 and up with a parent as co-owner.
  • Each bank sets its own minimum age policy, so a bank that requires 18 may be across the street from one that accepts 14-year-olds.
  • If you are under 18, bring a parent or legal guardian to the bank, along with their ID and proof of address.
  • Once you turn 18, you can open an account independently using only your government ID and proof of address.

Teen accounts with a parent or guardian

If you are between 13 and 17, most major banks offer accounts designed for minors. These accounts are typically owned jointly by the teen and a parent or legal guardian. The parent has full access to the account and can see all transactions, set spending limits, and manage the account online or by phone.

Common names for these accounts include "Teen Checking," "Youth Savings," or "Student Accounts." They often come with a debit card, online banking access, and sometimes tools to teach money management—such as alerts when the balance drops below a set amount. Some banks charge no monthly fee for teen accounts; others charge $5 to $10 per month.

To open a teen account, both you and the parent or guardian must visit the bank in person. Bring the teen's birth certificate or school ID and the adult's government-issued ID and proof of address. Some banks accept applications online if the parent has an existing account with them.

What happens when you turn 18

When you reach 18, you have two choices: keep the joint account as is, or convert it to an account in your name alone. If you keep it joint, the parent retains access and can still see transactions and manage the account. If you convert it, the parent's access ends and the account becomes yours to control completely.

The conversion process varies by bank. Some allow you to do it online or by phone; others require a visit to a branch. Contact your bank to ask how to convert your account, or simply leave it as is if you are comfortable with the current arrangement. There is no deadline to convert—you can keep a joint account for as long as you want.

If you want to open a separate account in your name alone at 18, you can do so at any bank. You will need a government-issued ID (driver's license, passport, or state ID) and proof of address (utility bill, lease, or bank statement dated within the last 60 days).

Opening an account without a parent if you are under 18

A small number of banks and fintech companies offer accounts for minors without requiring a parent to co-own or be present. These are rare and usually come with restrictions—such as no overdraft, limited transaction amounts, or no check-writing ability. Some require parental consent but not co-ownership, meaning the parent signs off but does not have account access.

If you need an account and cannot get a parent to co-own one, search for "minor bank account no parent" or "teen account independent" and call banks in your area to ask their specific policy. Credit unions sometimes have different rules than large banks, so check local credit unions as well.

Be aware that accounts without parental involvement are uncommon and may come with higher fees or fewer features. A joint account with a parent is the standard and usually the cheapest option.

Documents you will need at any age

If you are 18 or older opening an account alone, bring a government-issued photo ID and proof of address. Acceptable IDs include a driver's license, passport, state ID card, or military ID. Proof of address can be a recent utility bill, lease agreement, bank statement, or government mail dated within the last 60 days.

If you are under 18 opening a joint account with a parent, bring your birth certificate or school ID and the parent's government-issued ID and proof of address. Some banks also ask for a Social Security number for both the minor and the adult.

Call ahead to confirm what documents the specific bank requires. Requirements can differ between branches of the same bank, and some banks accept documents online while others require originals in person.

Online banks and age requirements

Online-only banks (such as Ally, Charles Schwab, or Discover) typically require you to be 18 to open an account. They do not offer teen accounts because they have no physical branches where a parent and minor can sign documents together in person. Some online banks partner with third-party services to allow minors to open accounts, but this is uncommon.

If you are under 18 and want to bank online, look for a traditional bank or credit union with both physical branches and online access. Open the account in person with a parent, then use the online platform once the account is active. This gives you the convenience of online banking without the age restriction.

Frequently Asked Questions

Can I open a bank account at 16?

Many banks allow 16-year-olds to open accounts with a parent as co-owner. Some banks set the minimum at 13, others at 18. Call your local bank or credit union to ask their policy. You will need a parent or guardian to be present and to co-own the account.

What if I do not have a birth certificate or ID?

If you are a minor without a birth certificate, ask the bank what alternative documents they accept—such as a school ID, passport, or state ID. If you do not have any of these, contact your state's vital records office to order a birth certificate, which usually takes one to two weeks. Some banks may hold your application until you provide an acceptable ID.

Can I open a bank account if I am homeless?

Yes. Banks are required to accept alternative proof of address for people without a permanent home. Acceptable alternatives include a shelter address, a letter from a social service agency, or mail addressed to you at a friend's or family member's address. Call the bank ahead of time to ask what they will accept.

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

Most banks require a Social Security number or Individual Taxpayer Identification Number (ITIN). If you do not have one, contact the Social Security Administration or the IRS to apply. Some banks may open an account without an SSN if you provide additional ID, but this is rare. Ask your bank what they require.

What is the difference between a savings account and a checking account for teens?

A teen checking account usually comes with a debit card and is meant for everyday spending. A teen savings account earns interest and is meant for money you want to keep. Many banks offer both, and you can open one or both. Checking accounts typically have no monthly fee for teens; savings accounts may earn very little interest (often less than 0.01% annually).