Yes, minors can open a checking account, but a parent or guardian must co-own it
A minor cannot open a checking account alone. Banks require an adult to be a joint owner on the account, and that adult is legally responsible for how the account is used. The adult's name and Social Security number go on the account alongside the minor's, and the adult can see all transactions and balances.
Most banks allow minors as young as 13 or 14 to be added to a checking account, though some set the age at 16 or 17. A few banks offer accounts specifically designed for minors under 13, but these are less common. The exact age varies by bank, so you'll need to ask the institution directly or check their website.
The account works like any other checking account: the minor can deposit money, write checks, use a debit card, and set up automatic payments. The parent or guardian controls whether the minor can do these things and can restrict access if needed.
Key Takeaways
- A parent or guardian must be a joint owner on any checking account opened by a minor.
- Most banks allow minors starting at age 13 or 14, though some require age 16 or 17.
- The adult on the account can see all transactions and has full control over the account's rules and restrictions.
- Some banks offer accounts with limited features or lower fees designed specifically for minors and teens.
- The minor will need a Social Security number and proof of identity, and the adult will need an ID and proof of address.
What documents you need to open an account
Both the minor and the adult need to bring identification. The minor typically needs a birth certificate or school ID, and the adult needs a government-issued ID like a driver's license or passport. Some banks accept a state ID card instead.
Both people will need a Social Security number. If the minor doesn't have one yet, you can get one from the Social Security Administration before opening the account, or some banks will let you apply for the account and add the number later.
The adult will need to show proof of address—usually a recent utility bill, lease, or mortgage statement. Some banks accept a bank statement or government document instead. Call ahead to confirm what your bank accepts, because requirements vary.
Where to open an account and what to expect
You can open an account at any bank or credit union. Large national banks like Chase, Bank of America, and Wells Fargo all offer accounts for minors. Credit unions often have lower fees and may be more flexible about age requirements, so it's worth checking what's available in your area.
You'll need to go to a branch in person—most banks do not allow you to open a minor's account online. Bring both the minor and the adult, along with the documents listed above. The process usually takes 15 to 30 minutes. The bank will ask questions about the account's purpose and how much money you expect to deposit.
Some banks charge a monthly fee for checking accounts, while others waive the fee if you keep a minimum balance or set up direct deposit. Many banks offer accounts for minors with no monthly fee at all. Ask about fees before you open the account, because they add up over time.
How the account works once it's open
The minor receives a debit card and checks (if the account includes them). The adult can decide whether the minor can use the card right away or whether they need to earn that privilege. Some parents set spending limits on the debit card through the bank's app.
The minor can deposit money by using an ATM, depositing a check at a branch, or having money transferred in from another account. The adult can also deposit money into the account. Both the minor and the adult can see the balance and transaction history through the bank's website or app.
The adult remains the account owner and can close the account, freeze the debit card, or change the account rules at any time. When the minor turns 18, the account usually converts to a standard adult account, though the adult can remain a co-owner if both agree.
Accounts designed specifically for teens
Some banks offer accounts marketed toward teenagers, with features like spending controls, savings goals, and financial education tools. Chase offers Chase First Banking, which lets parents set daily spending limits and receive alerts when the teen uses the card. Bank of America has a similar product called BankAmericard for Students.
These accounts often have no monthly fee and may include perks like higher interest on savings or rewards for good financial habits. The features vary widely, so compare what different banks offer. Some credit unions have teen accounts with even lower fees and more personalized service.
The core function is the same as a regular checking account—the minor can deposit and spend money, and the adult can monitor and control access. The difference is in the tools available to teach financial responsibility and set boundaries.
What happens when the minor turns 18
When a minor turns 18, they become a legal adult and can own an account in their name alone. Most banks automatically convert the account to a standard adult account on or shortly after the 18th birthday. The parent or guardian's name stays on the account unless both parties agree to remove it.
The newly adult account holder can request that the co-owner be removed, and the bank will process that request. If the co-owner wants to stay on the account, both people have to consent. Some young adults keep a parent on the account for a while longer for monitoring or support.
At this point, the young adult is fully responsible for the account and any overdrafts or fees. They can also open new accounts in their name alone if they want to move to a different bank or product.
Frequently Asked Questions
Can a minor open a checking account without a parent?
No. Banks require a parent or legal guardian to be a joint owner on any account opened by a minor. The adult must be present when the account is opened and must provide identification and proof of address.
What if the minor doesn't have a Social Security number yet?
You can get a Social Security number from the Social Security Administration before opening the account. Some banks will let you open the account and add the number later, but this varies by bank. Call ahead to ask whether your bank allows this.
Can the parent see all the minor's transactions?
Yes. The parent or guardian is a joint owner and can see the full balance and all transactions through the bank's app or website. The parent can also set restrictions on the debit card, such as daily spending limits or blocking certain types of purchases.
Do I have to go to a bank branch to open the account?
Yes, most banks require you to open a minor's account in person at a branch. You cannot open one online. Bring both the minor and the adult, along with identification and proof of address for the adult.
What's the difference between a checking account and a savings account for a minor?
A checking account is for regular spending and includes a debit card and checks. A savings account is for storing money and typically earns interest, but has limits on how many withdrawals you can make per month. Many minors have both—a checking account for everyday use and a savings account to build money over time.