Yes, but a parent or guardian must open it with them and stay on the account
A 10-year-old cannot open a checking account alone. Banks require a parent or legal guardian to be a joint owner on any account for a child under 18. The adult's name appears on the account, the debit card, and all statements. The parent or guardian has full access and responsibility for the account, including the ability to monitor spending and set limits.
Most major banks and credit unions offer accounts designed for children this age. These accounts typically come with a debit card, online access, and parental controls. Some banks call them "youth accounts" or "teen accounts," though the rules are the same: an adult must be present to open it and must remain on the account.
The specific rules vary by bank. Some require the child to be at least 6 years old; others set the minimum at 8 or 10. A few banks allow younger children if a parent opens a custodial account first. Call your bank or visit their website to confirm their age requirement before you go in.
Key Takeaways
- A parent or guardian must be a joint owner on the account and present when it opens.
- Most banks offer youth checking accounts with debit cards and parental controls for children ages 6 to 17.
- The adult on the account can see all transactions, set spending limits, and freeze the card if needed.
- You will need the child's Social Security number, proof of identity for both the child and parent, and a form of ID for the parent.
- Some banks charge monthly fees for youth accounts; others waive fees if the parent maintains a separate account with them.
What you need to bring to open the account
Bring the child's Social Security number and a form of ID — usually a birth certificate, passport, or state ID card. The parent or guardian will need a government-issued photo ID, such as a driver's license or passport. Some banks also ask for proof of address, such as a recent utility bill or lease.
Call ahead to confirm what your specific bank requires. Requirements differ between banks and sometimes between branches. A few banks allow you to start the process online, but most require at least one visit in person so the adult can sign the account agreement.
Debit cards and spending limits
Most youth checking accounts come with a debit card in the child's name. The parent can usually set daily spending limits through the bank's app or website — for example, a limit of $20 per day or $100 per week. Some banks let you turn the card on and off remotely, which is useful if the card is lost or if you want to restrict spending temporarily.
The child can use the debit card to make purchases at stores and online, and to withdraw cash from ATMs. Transactions typically post within one business day, so the parent can monitor spending in real time through the bank's app or website.
Not all youth accounts include a debit card. Some banks offer savings accounts for children without a card, or charge an extra fee for the card. Ask whether the card is included in the monthly fee or costs extra.
Monthly fees and account costs
Monthly fees for youth checking accounts range from $0 to $15, depending on the bank. Many banks waive the fee if the parent maintains a separate account with them, such as a checking or savings account. Some banks charge a fee only if the account balance falls below a certain amount, such as $100.
A few banks offer youth accounts with no monthly fee and no minimum balance requirement. Others charge a fee but include features like unlimited debit card transactions, online bill pay, or access to a large ATM network. Compare the fee structure and features across banks before you choose.
Ask whether the bank charges fees for overdrafts, ATM withdrawals at other banks, or account transfers. Some youth accounts are linked to a parent's account, so transfers between them are free; others charge a small fee per transfer.
How parental controls work
Most banks give the parent access to a separate app or website portal where they can monitor the child's account. The parent can see every transaction, the current balance, and the debit card status. Some banks send notifications to the parent's phone or email each time the child makes a purchase or withdrawal.
Parental controls typically include the ability to set daily or weekly spending limits, turn the debit card on or off, and lock the account if the card is lost. A few banks allow the parent to restrict certain types of purchases — for example, blocking online transactions or purchases at gas stations — though this feature is less common.
The child usually has access to their own app or online account where they can see their balance and transaction history, but cannot change settings or spending limits. Some banks allow the child to request a higher limit, which the parent can approve or deny through the app.
Savings accounts as an alternative
If your child is not ready for a debit card or you want to focus on saving rather than spending, a youth savings account may be a better fit. Savings accounts earn interest on the balance, though the rate is typically very low — often less than 0.1% per year. The child cannot make purchases with a savings account, but can deposit money and watch it grow.
Many banks link a youth savings account to a parent's account, making it easy to transfer money between them. Some banks offer incentives for saving, such as bonus interest if the balance reaches a certain amount or if the child makes regular deposits.
A savings account teaches the habit of setting money aside without the temptation to spend it immediately. You can open a savings account for a younger child than you would a checking account — some banks allow savings accounts for children as young as 1 year old.
Where to open a youth checking account
Most major banks offer youth checking accounts, including Bank of America, Chase, Wells Fargo, and Citibank. Credit unions often have youth accounts as well, and sometimes with lower fees or higher interest rates on savings. Online banks like Ally and Charles Schwab also offer youth accounts, though you may need to complete the process entirely online or by mail.
Start by checking whether your bank or credit union offers a youth account and what the age requirement is. If your current bank does not offer one, or if the fees are high, compare options at other banks in your area. Many banks let you open an account online or by phone, though some still require an in-person visit.
Ask the bank whether the account can be converted to a regular adult account when the child turns 18, or whether you will need to open a new account. Some banks automatically convert youth accounts; others require you to close the youth account and open a new one.
Frequently Asked Questions
Can my 10-year-old use the debit card online?
Yes, most youth debit cards work for online purchases at retailers and apps. The parent can usually restrict online transactions through the bank's app if they want to limit where the card can be used. Some banks block certain types of online purchases by default, such as gambling or adult websites.
What happens if the account goes negative?
Most youth checking accounts do not allow overdrafts, so the debit card will be declined if there is not enough money in the account. This teaches the child to spend only what they have. A few banks charge an overdraft fee if the account does go negative; ask your bank about their policy.
Can I transfer money into my child's account from my own?
Yes. Most banks allow free transfers between a parent's account and a linked youth account. You can set up a regular transfer — for example, a weekly allowance — or transfer money as needed. Transfers usually post within one business day.
Does the child need their own Social Security number?
Yes. Banks are required to collect a Social Security number for anyone on the account, including children. If your child does not have a Social Security number, you can request one from the Social Security Administration before opening the account.
What age can my child use the account without me?
The child can use the debit card and access their account balance at any age once the account is open. However, the parent remains the joint owner and has full access and control until the child turns 18. At that point, the account can usually be converted to a regular adult account in the child's name alone.