Yes, a 13-year-old can open a checking account, but it requires a parent or guardian
A 13-year-old cannot open a checking account alone. Banks require a parent or legal guardian to co-own the account, sign all paperwork, and take responsibility for it. The account is jointly owned, which means both the teen and the adult have access and can make deposits or withdrawals.
Most major banks and credit unions offer teen checking accounts specifically designed for this age group. These accounts often come with debit cards, online banking, and mobile apps. Some banks set a minimum age at 13; others allow accounts starting at 10 or 12. A few require the teen to be 15 or older.
The parent or guardian must bring identification and proof of address to the bank branch. The 13-year-old should come along with their own ID—a school ID, passport, or state ID card works. Some banks will open the account the same day; others mail the debit card within 5 to 10 business days.
Key Takeaways
- A parent or guardian must co-own the account and be present when it opens; the teen cannot open one independently.
- Most banks allow teens as young as 13 to have a checking account, but the minimum age varies by institution.
- You will need the parent's ID and proof of address, plus the teen's ID, to open the account in person at a branch.
- Teen checking accounts typically include a debit card and online banking, though some have spending limits or restrictions on transfers.
- The parent can monitor the account and set controls through the bank's app or website, and can close it at any time.
What documents you need to bring
The parent or guardian needs a government-issued photo ID (driver's license, passport, or state ID) and proof of current address. A utility bill, lease, or recent bank statement dated within the last 60 days usually works for the address.
The 13-year-old should bring an ID as well. A school ID, passport, state ID card, or learner's permit all count. If the teen has no ID, some banks will open the account with just the parent's ID and the teen's Social Security number, but this is less common. Call your bank ahead of time to confirm what they accept.
Bring the Social Security number for both the parent and the teen. The bank will use this to run a background check and set up the account in the banking system.
How the account works when a parent co-owns it
A joint account means the parent and teen both own it equally. Either person can deposit money, withdraw cash, use the debit card, or transfer funds. The parent can see all transactions and balances online or through the mobile app.
Most banks allow the parent to set controls on the teen's debit card—for example, limiting daily spending to $50 or blocking certain types of purchases like gas or restaurants. These controls vary by bank. Some banks let the parent turn the card on or off remotely if the card is lost or the teen is overspending.
The account stays joint until the teen turns 18 or the parent removes themselves. At that point, the teen can take full ownership. Some banks automatically convert the account to a standard adult checking account on the teen's 18th birthday.
Banks and credit unions that offer teen checking accounts
Major national banks with teen accounts include Chase, Bank of America, Wells Fargo, and Citibank. Each has different minimum ages and features. Chase allows accounts starting at age 13; Bank of America requires 15. Wells Fargo's teen account is available at 10 and up.
Credit unions often have lower fees and more flexible rules. Many credit unions allow teen accounts starting at age 13, and some go as low as age 10. If your family belongs to a credit union, ask whether they offer a teen account and what the minimum age is.
Online banks like Ally, Charles Schwab, and Fidelity also offer accounts for teens, though they require opening the account online with a parent present (usually via video call or by mailing in signed forms). These accounts often have no monthly fees and no minimum balance.
Fees and minimum balance requirements
Teen checking accounts often have no monthly maintenance fee, especially if the account is linked to a parent's account at the same bank. Some banks waive fees until the teen turns 18, then convert to a standard account with a fee.
Most teen accounts have no minimum balance requirement. A few banks require $25 or $100 to keep the account open, but this is uncommon. Check with your specific bank before opening.
Overdraft fees vary. Some banks charge $35 per overdraft; others charge less or none at all. Many teen accounts have overdraft protection, which means the bank will transfer money from the parent's account if the teen's account runs short, rather than charging a fee. Ask about this when you open the account.
What happens if the teen spends more than they have
If the teen tries to spend more money than is in the account, the transaction may be declined at the point of sale—the debit card simply will not work. This is the most common outcome and protects against overdrafts.
Some banks allow overdrafts on teen accounts, meaning the account can go negative. The bank will then charge an overdraft fee (usually $25 to $35) and may charge daily fees until the account is brought back to zero. The parent is responsible for paying back the overdraft, since they co-own the account.
To avoid this, the parent can set up overdraft protection, which automatically transfers money from the parent's account if the teen's account runs short. This prevents fees but also means the teen does not learn the consequence of overspending. Many parents use this as a teaching tool—allowing one overdraft to happen, then turning off protection so the teen learns to budget.
Online and mobile banking for teens
Most teen checking accounts come with online banking and a mobile app. The teen can check their balance, view transactions, transfer money between accounts (if allowed), and deposit checks by taking a photo of the front and back.
The parent can set up a separate login and see all the same information. Some banks let the parent set up alerts—for example, a notification every time the teen's card is used, or when the balance drops below a certain amount.
Some banks restrict what the teen can do online. For example, the teen might not be able to close the account, change the address, or order new checks without the parent's approval. These restrictions are built into the account type and cannot be changed by the parent.
Frequently Asked Questions
Can a 13-year-old use the account without the parent present?
Yes, once the account is open, the teen can use the debit card, withdraw cash, and access online banking on their own. The parent does not need to be present for everyday use. However, the parent can see all activity and can close the account or remove the teen's card access at any time.
What if the parent and teen disagree about spending?
Since the parent co-owns the account, the parent has the legal right to withdraw money or close the account. This is why it is important to discuss expectations about the account before opening it. Some families set a rule that the teen can only spend money they earned or were given for that purpose.
Can the teen open a second account without the parent?
No. A 13-year-old cannot open any bank account without a parent or guardian. If a teen tries to open an account alone, the bank will refuse. Once the teen turns 18, they can open accounts independently.
Does a teen checking account affect the parent's credit?
No. A teen checking account is not reported to credit bureaus and does not affect the parent's credit score. However, if the account goes into overdraft and the parent does not pay it back, the bank may report it to ChexSystems (a banking history database), which could affect future account openings.
What happens to the account when the teen turns 18?
Most banks automatically convert the account to a standard adult checking account on the teen's 18th birthday. The parent can remove themselves from the account, or both can stay on it if they choose. The teen can now open other accounts independently and take full control of this one.