The minimum age depends on the account type and the bank

Most banks will not let you open an account on your own until you turn 18. Before that, you need a parent or legal guardian to co-sign or open a joint account with you. Some banks let you open a savings account at younger ages — as early as age 13 or 14 — but only with an adult on the account. A few banks offer teen checking accounts starting around age 13, though these come with restrictions on what you can do and how much you can spend.

The exact age and rules vary by bank. A bank's website will list the minimum age for each account type it offers. If you are under 18 and want to open an account, call the bank directly or visit a branch — the staff can tell you what documents you and your parent or guardian need to bring.

Key Takeaways

  • You must be 18 to open a bank account by yourself; younger than that, you need a parent or legal guardian to co-sign or be a joint account holder.
  • Some banks offer savings or teen checking accounts to children as young as 13, but an adult must be on the account and may have control over it.
  • Teen accounts often have limits on daily spending, ATM withdrawals, or transfers, and these limits vary by bank.
  • You will need a government-issued ID (or your parent will) and proof of address, such as a utility bill or lease, to open any account.
  • Once you turn 18, you can remove the adult from the account or open a separate account in your name alone, depending on the bank's rules.

Opening an account before age 18

If you are under 18, the adult on your account has legal authority over it. That means they can see all transactions, withdraw money, and close the account. Some banks let you set a PIN or password so the adult cannot access it online, but they can still go to a branch and make changes. Read the account agreement carefully — it will spell out what the adult can and cannot do.

Teen accounts are designed to teach money management while keeping the adult in control. Common restrictions include a daily ATM withdrawal limit (often $200 to $500), a cap on how much you can transfer per day, and no overdraft protection. These limits reset daily or weekly depending on the bank. If you hit a limit, you will have to wait until the next day or week to withdraw or transfer more.

Some banks let you graduate to a regular checking account once you turn 18 without closing the teen account. Others require you to open a new account. Ask the bank what happens on your 18th birthday so you are not surprised.

What documents you need to bring

You will need a government-issued ID. If you are under 16, your state ID or school ID may work, but call the bank first — rules vary. If you are 16 or older, a driver's license or state ID is standard. Your parent or guardian will need their own ID as well.

You will also need proof of address. A utility bill, lease, mortgage statement, or bank statement with your address on it usually works. The document must be recent — most banks accept documents from the last 30 to 90 days. If you live with your parent or guardian, their proof of address is usually enough for both of you.

Some banks ask for a Social Security number. If you do not have one, ask whether the bank can open an account using an Individual Taxpayer Identification Number (ITIN) instead. Not all banks offer this, so call ahead.

Online accounts versus in-person accounts

Most online banks do not let anyone under 18 open an account, even with a parent. They require a legal adult to open the account in their own name and then add the minor as an authorized user. This is different from a joint account — the adult owns it, and the minor has limited access.

In-person banks (those with physical branches) are more likely to offer teen accounts and joint accounts. If you want to open an account before 18, your best option is usually a local or regional bank or credit union. Credit unions sometimes have lower minimum age requirements and more flexible rules for teen accounts.

If you are opening an account online with a parent, the parent will need to provide their own ID, proof of address, and Social Security number. The bank will verify this information before the account is created. The process usually takes a few business days.

Removing the adult from your account at 18

Once you turn 18, you can ask the bank to remove the adult from the account. Some banks do this automatically; others require you to visit a branch or call and request it. You may need to show your ID to prove you are now 18. If the account is in the adult's name only, you cannot remove them — you would need to open a new account in your own name.

If the account is a true joint account (both names on it), either person can usually close it or make changes. Check your account agreement or ask the bank what your options are. If you want to keep the account open but remove the adult, ask whether the bank allows that or whether you need to open a separate account.

Opening an account at a credit union instead of a bank

Credit unions sometimes have different age rules than banks. Some credit unions let you open a youth savings account at age 12 or younger, and a few have no minimum age if a parent is on the account. Credit unions also tend to have lower fees and higher interest rates on savings accounts.

To join a credit union, you usually have to meet a membership requirement — for example, you might need to live in a certain county, work for a certain employer, or be related to someone who already belongs. Ask whether your family qualifies for any credit unions in your area. If you do, visit the branch or call to ask about youth account options.

Frequently Asked Questions

Can I open a bank account at 16 or 17 without a parent?

No. You must be 18 to open an account without a parent or legal guardian. Before 18, an adult must be on the account with you. Some banks let you open a teen account at 16 or 17, but the adult still has control and can see all activity.

What if my parent will not let me open an account?

If you are under 18, you cannot open an account without a parent or guardian's permission and signature. If you are 18 or older, you can open an account on your own at any bank. If you are a minor and your parent refuses, talk to a school counselor or trusted adult about your options.

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

Most banks require a Social Security number. If you do not have one, ask the bank whether it accepts an ITIN. Not all banks do, so you may need to call several banks or try a credit union. You can apply for a Social Security number at your local Social Security office if you are a U.S. citizen or authorized immigrant.

Can I have a bank account if I am homeless?

Yes. Banks must accept proof of address in other forms if you do not have a permanent home — for example, a letter from a shelter, a social services agency, or a trusted adult who lets you use their address. Call the bank and explain your situation; staff can tell you what documents they will accept.

What happens to my teen account when I turn 18?

It depends on the bank. Some automatically convert it to a regular checking account. Others close it and require you to open a new one. Check your account agreement or call the bank before your 18th birthday so you know what to expect and can plan ahead if you need to open a new account.