What you need to open an account for a teenager
A teenager can open a bank account at most banks and credit unions, but you will need to be present as a parent or legal guardian. The teenager does not need to be 18. Most institutions allow accounts for anyone age 13 and up, though some accept younger children if a parent co-owns the account.
Bring the teenager's government-issued ID—a state ID, passport, or school ID depending on what the bank accepts. You will also need your own ID and proof of address, usually a recent utility bill, lease, or mortgage statement. Some banks ask for a Social Security number for the teenager; others do not require it for a basic savings account, though you will need it eventually if the account earns interest.
Call ahead or check the bank's website to confirm what documents they need and whether they require an in-person visit. Some banks and credit unions now allow you to open an account online with a video call, though this varies by institution and by the teenager's age.
Key Takeaways
- You must be present as a parent or legal guardian, and most banks allow accounts for teenagers age 13 and up.
- Bring the teenager's government ID, your ID, and proof of your address; a Social Security number may be required depending on the account type.
- Some banks offer teen checking accounts with limited overdraft risk and parental controls; others offer basic savings accounts with no monthly fees.
- The teenager can use a debit card immediately after opening the account, though some banks delay card delivery by a few business days.
- You can monitor the account through a parent portal on most banks' apps, and you can set spending limits or require approval for certain transactions.
Teen checking accounts versus regular savings accounts
Banks market teen checking accounts as accounts designed for teenagers, usually with no monthly maintenance fee and no minimum balance. These accounts typically come with a debit card and online banking access. The main difference from an adult account is that the bank may limit overdraft protection—meaning the account cannot go negative, or can only go negative by a small amount before the transaction is declined.
A regular savings account works the same way but usually has no debit card and no check-writing ability. It earns a small amount of interest on the balance, though the rate varies by bank and changes over time. Savings accounts are useful if the goal is to teach the teenager to save rather than spend, since there is no card attached.
Some banks offer both: a teen checking account paired with a linked savings account. This lets the teenager use the checking account for everyday purchases and the savings account for money they want to set aside. You can usually transfer money between the two accounts through the bank's app or website.
Parental controls and monitoring options
Most banks that offer teen accounts include a parent portal or app feature that lets you see transactions, set spending limits, and sometimes require your approval before certain purchases go through. The level of control varies widely. Some banks let you set a daily spending cap; others let you block certain types of merchants, like gas stations or online retailers.
You can usually see the account balance and transaction history in real time through your own banking app or a separate parent dashboard. Some banks send you alerts when the teenager makes a purchase above a certain amount or when the balance drops below a threshold you set.
These controls are optional—you can turn them off or adjust them as the teenager gets older and more responsible. Many parents use strict limits at first and gradually loosen them, or remove limits entirely once the teenager turns 18 or demonstrates consistent good judgment.
Debit cards and how they work for teenagers
The debit card attached to a teen checking account works like an adult debit card: the teenager swipes or inserts it to pay, and the money comes directly out of the account. The card usually arrives in the mail within 5 to 10 business days after the account opens, though some banks offer a temporary digital card you can use immediately through a mobile wallet like Apple Pay or Google Pay.
A debit card has no credit line and no debt risk—the teenager can only spend what is in the account. This makes it safer than a credit card for learning to manage money. However, debit cards offer less fraud protection than credit cards in some situations. If the card is stolen or used fraudulently, the money is gone from the account immediately, though most banks will refund unauthorized charges within a few business days if you report them.
The teenager can use the debit card at ATMs to withdraw cash, at stores to pay for purchases, and online to buy things. Some banks restrict ATM withdrawals or require parental approval for online purchases, depending on the account type and the controls you set.
Age requirements and when to open an account
Most banks allow teenagers age 13 and up to open an account with a parent or guardian present. A few banks have a minimum age of 15 or 16. Credit unions often have lower age minimums and may allow accounts for children as young as 10 if a parent co-owns the account.
There is no maximum age—a teenager can open an account at any point. Many parents open accounts around age 13 or 14 to teach money management before the teenager starts earning money from a job. Others wait until the teenager has a job and needs somewhere to deposit paychecks.
Once the teenager turns 18, they can own the account independently and you can remove yourself as a co-owner if you choose. Some banks automatically convert teen accounts to adult accounts at age 18; others require you to request the conversion.
Comparing banks and credit unions
Large national banks like Chase, Bank of America, and Wells Fargo all offer teen checking accounts with debit cards and parental controls. These banks have many branches and ATMs, which can be useful if the teenager needs to deposit cash or withdraw money in person. However, they often charge monthly fees if the account does not meet certain requirements, like a minimum balance or direct deposit.
Online banks like Ally and Charles Schwab offer accounts with no monthly fees and no minimum balance, but they have no physical branches. If the teenager needs to deposit cash, they will have to use an ATM or transfer money from another account.
Credit unions are member-owned financial institutions that often have lower fees and higher interest rates on savings accounts than banks. Many credit unions offer teen accounts and waive monthly fees. You will need to be a member of the credit union to open an account there, which usually means living or working in a certain area or having a family member who is already a member.
What happens when the teenager turns 18
When the teenager turns 18, they become a legal adult and can own a bank account independently. Most banks automatically convert a teen account to a standard adult account on the teenager's 18th birthday. You will no longer have access to the account unless the teenager adds you as an authorized user, which they can do at any time.
If you want to stay involved in the account after the teenager turns 18, you can ask them to add you as an authorized user. This gives you the ability to see transactions and the balance, but the account remains in their name. Alternatively, you can simply close the teen account and help them open a new adult account at a different bank if they prefer a fresh start.
Some teenagers keep the same account they opened at 13 or 14 for years after turning 18. Others switch banks when they turn 18 because they want a different type of account or because they want to move away from parental oversight.
Frequently Asked Questions
Do I need to be a customer at the bank to open an account for my teenager?
Most banks do not require you to be an existing customer, but some do. Check the bank's website or call ahead to confirm. If you are already a customer, the process is usually faster because the bank already has your information on file.
Can my teenager open an account without me being present?
No. You must be present as a parent or legal guardian. Some banks now allow you to open an account online with a video call, but you will still need to verify your identity and the teenager's identity during the process.
What if my teenager loses the debit card?
Call the bank immediately and report the card lost or stolen. The bank will cancel the card and usually send a replacement within 5 to 10 business days. Most banks offer a temporary digital card through a mobile wallet while you wait for the replacement to arrive. You can usually freeze the card through the bank's app instead of canceling it, which lets you reactivate it if the teenager finds it.
Can my teenager use the account to receive paychecks from a job?
Yes. The teenager can give their employer the account number and routing number to set up direct deposit. This is the fastest and safest way to receive paychecks. The money usually appears in the account within one or two business days of payday.
What if the account goes negative or the teenager overspends?
Most teen checking accounts do not allow overdrafts, so transactions will be declined if there is not enough money in the account. The teenager will not be charged an overdraft fee. If the account does allow small overdrafts, you will see a negative balance and may be charged an overdraft fee, though many banks waive the first one. You can adjust the overdraft settings through the parent portal or by calling the bank.