Yes, children can have checking accounts, but the rules depend on the child's age and the bank
Most banks let children open checking accounts, but the structure changes based on age. Children under 18 typically cannot open an account alone—a parent or guardian must be a joint owner or co-signer. Some banks allow children as young as six or seven to have a checking account with a parent on the account; others set the minimum at 13 or 16. A few banks offer teen checking accounts designed specifically for older minors, which come with limited debit card access and parental controls. The specific rules depend entirely on which bank you choose.
The account itself works like a regular checking account: the child gets a debit card, can make deposits and withdrawals, and receives a statement. The difference is that the parent retains legal control and can see all transactions. Some banks restrict what the child can do—capping daily spending, blocking online transfers, or requiring parental approval for certain actions.
Key Takeaways
- Children under 18 need a parent or guardian as a joint owner or co-signer; no bank allows a minor to open a checking account alone.
- Minimum age requirements vary by bank, ranging from age 6 or 7 at some institutions to age 13 or 16 at others.
- Teen checking accounts often come with parental controls, spending limits, and transaction alerts that adult accounts do not have.
- The parent's Social Security number and credit history may be checked, even though the account is for the child.
- Some banks charge monthly fees for teen accounts; others waive fees if a parent maintains an account at the same bank.
Age requirements vary by bank and account type
There is no single age at which a child can open a checking account. Banks set their own rules. Some allow children as young as 6 or 7 to open a savings or checking account with a parent present and on the account. Others require the child to be at least 13. Still others offer teen checking only to children 16 and older.
The younger the child, the more limited the account usually is. A six-year-old's account might be savings-only, with no debit card. A 13-year-old might get a debit card but with daily spending caps. A 16-year-old's teen checking account may look almost identical to an adult account, except the parent can still see transactions and set limits.
Before you visit a bank, call ahead or check their website for the specific age requirement and what features come with accounts at each age level. Requirements change, and different branches sometimes enforce rules differently.
What you need to bring to open an account
To open a checking account for a child, bring the child and a parent or legal guardian to the bank together. You will need the child's Social Security number and a form of identification—usually a birth certificate or passport. The parent will need their own ID and Social Security number.
Some banks also require proof of address, such as a utility bill or lease in the parent's name. A few banks ask about the source of funds that will go into the account, though this is less common for children's accounts than for adult accounts.
If the child does not yet have a Social Security number, you can still open an account at many banks, but the process takes longer because the bank will need to verify the number separately. Ask the bank whether you can open the account and add the number later, or whether you must have it before the appointment.
How parental controls and spending limits work
Teen checking accounts often come with built-in restrictions that regular accounts do not. A parent can usually set a daily spending limit—for example, the child cannot spend more than $50 per day with the debit card. Some banks let the parent block certain types of transactions, such as online purchases or ATM withdrawals.
Most banks send the parent a text or email alert every time the child makes a transaction over a certain amount, or every time the account balance drops below a threshold. This lets the parent monitor spending without having to log in constantly. The parent can usually adjust these alerts and limits through the bank's app or website.
The parent's access to the account does not end when the child turns 18. The parent remains a joint owner until both parties agree to remove them. Some banks automatically convert the account to a standard adult account on the child's 18th birthday; others require the parent to take action. Check the bank's policy before opening the account if this matters to you.
Fees and minimum balance requirements
Many banks charge a monthly maintenance fee for teen checking accounts—typically $5 to $10 per month. Some waive the fee if a parent maintains an account at the same bank, or if the account receives a direct deposit each month. A few banks offer teen accounts with no monthly fee at all.
Minimum balance requirements also vary. Some banks require the account to maintain a balance of at least $25 or $100 at all times; others have no minimum. If the balance drops below the minimum, the bank may charge a fee or close the account.
Overdraft fees apply if the child spends more than the account holds. Some banks block overdrafts on teen accounts entirely, meaning the debit card simply declines if there is not enough money. Others allow overdrafts and charge a fee—usually $25 to $35 per overdraft. Ask the bank which approach they use before opening the account.
Debit cards, ATM access, and online banking
Most teen checking accounts come with a debit card, but not all. Some banks issue a card only at age 13 or older. The card works like an adult debit card—the child can use it to buy things in stores, online, or at restaurants—but the parent can set spending limits and see all transactions.
ATM access depends on the bank. Some teen accounts allow unlimited ATM withdrawals at the bank's own ATMs but charge a fee for other ATMs. Others restrict how much the child can withdraw per day. A few banks do not allow ATM withdrawals from teen accounts at all.
Online and mobile banking are usually available. The child can log in to check the balance, see transaction history, and sometimes transfer money between their own accounts. The parent can also log in and see everything the child sees, plus access parental controls.
When a child turns 18
What happens when the child reaches 18 depends on the bank and the account type. Some banks automatically convert the account to a standard adult checking account on the 18th birthday. The parent is removed as a joint owner, and the young adult takes full control. Other banks require the parent to visit the bank or call to authorize the conversion.
A few banks keep the account as a teen account until the young adult is 21 or 25, with the parent remaining a joint owner unless both parties request removal. This is less common, but it does happen.
Before opening the account, ask the bank what the transition looks like at 18. If it matters to you whether the parent stays on the account or not, get the answer in writing or take notes during the conversation.
Frequently Asked Questions
Can a child open a checking account without a parent?
No. All banks require a parent or legal guardian to be a joint owner or co-signer on a minor's account. A child cannot open an account alone until they reach 18, and even then some banks have their own age requirements.
What if the child's parent does not have a bank account?
The parent does not need to have an account at the same bank to be a joint owner on the child's account. However, the parent will still need to provide identification and a Social Security number. Some banks may ask more questions if the parent does not have an existing relationship with them.
Can a child have a checking account at more than one bank?
Yes. There is no rule preventing a child from having accounts at multiple banks. However, each account will have its own fees, minimum balance requirements, and rules. A parent may want to keep accounts at one or two banks to avoid confusion and multiple fees.
Do teen checking accounts affect a child's credit score?
No. Checking accounts do not appear on credit reports and do not affect credit scores, whether the account holder is a child or an adult. Only credit products like credit cards, loans, and lines of credit show up on credit reports.
What happens if the child loses the debit card?
Contact the bank immediately. The bank will cancel the card and issue a replacement, usually within 7 to 10 business days. Most banks do not charge a fee for the first replacement card. In the meantime, the child can still withdraw cash at an ATM using a PIN, or the parent can withdraw money on their behalf.