A minor can open a bank account, but the rules depend on their age and the bank
Most banks will not let anyone under 18 open an account alone. Some banks allow minors as young as 13 or 14 to open an account if a parent or guardian co-signs and is listed as a co-owner. Other banks require the minor to be 16 or 17 before they can have any ownership stake, even with a parent present. A few banks have no minimum age if a parent opens the account and keeps full control until the minor reaches 18.
The account type matters. A custodial account (also called a minor account) is owned by the minor but managed by the parent until the minor turns 18 or 21, depending on state law. A joint account means both the minor and parent own it equally and can both withdraw money. A savings account opened by the parent alone in the minor's name gives the parent full control and the minor no legal ownership until the parent transfers it.
Your bank's specific rules are the deciding factor. Call the bank directly or visit a branch to ask what age they allow, whether they require a parent to be present, and what documents you need to bring.
Key Takeaways
- Most banks require a parent or guardian to co-sign any account a minor opens, and many have minimum age requirements between 13 and 17.
- A custodial account is owned by the minor but controlled by the parent until the minor reaches the age of majority in your state, usually 18 or 21.
- Joint accounts let both the minor and parent withdraw money and make decisions, so choose this only if you trust the minor with that level of access.
- Different banks have different rules, so you need to contact your bank or visit a branch to learn what they offer and what documents to bring.
What documents you need to bring
Bring a government-issued photo ID for the parent or guardian. This is usually a driver's license or passport. Bring proof of the minor's identity—a birth certificate, school ID, or passport. Some banks also ask for proof of address, such as a utility bill or lease in the parent's name.
If the minor is old enough to sign their own name, bring them to the bank. If they cannot sign yet, the parent signs on their behalf. Ask the bank ahead of time whether the minor needs to be present in person or whether the parent can open the account alone.
Age requirements vary by bank
Chase allows minors 13 and older to open a checking account if a parent is a co-owner. Bank of America requires the minor to be at least 15. Wells Fargo allows minors 14 and older. Smaller banks and credit unions often have different rules—some allow younger children if a parent has an account there, and some have no age minimum at all.
Online banks like Ally and Marcus do not offer accounts for minors under 18, even with a parent co-signing. If you want an online bank, you may need to open a traditional account at a brick-and-mortar bank first.
Call your bank and ask directly: "What is the minimum age for a minor to open an account?" and "Does a parent need to be a co-owner?" Write down the answer and the name of the person who told you, in case you need to reference it later.
Custodial accounts versus joint accounts
A custodial account is legally owned by the minor. The parent manages it and can withdraw money, but when the minor turns 18 (or 21 in some states), the account becomes theirs alone and the parent loses all control. The minor can then spend it however they want. This is useful if you want to teach the minor about saving and give them ownership of their money.
A joint account is owned equally by both the minor and the parent. Both can withdraw money without asking permission. The parent does not lose control when the minor turns 18—both owners keep full access forever unless one of them closes the account or removes the other. This is simpler to manage day-to-day but means the minor can drain the account at any time.
A parent-only account in the minor's name gives the parent complete control. The minor has no legal ownership and no access until the parent decides to transfer it. This is the most restrictive option but also the simplest if you want to save money for the minor without them being able to touch it.
What happens when the minor turns 18
If the account is custodial, it automatically converts to a regular adult account in the minor's name alone. The parent's access ends. The bank will send paperwork explaining this, usually a few months before the conversion date. The minor should read it carefully because they are now responsible for all account activity and fees.
If the account is joint, nothing changes automatically. Both the minor and parent remain co-owners with full access. If you want to remove the parent from the account, both of you must go to the bank together and sign paperwork to change it. If only one person wants out, the bank will usually close the account and split the money.
If the parent opened the account in their own name but intended it for the minor, the parent must formally transfer ownership or add the minor as a co-owner. This does not happen automatically, so talk to the bank about how to do it before the minor turns 18.
How to find a bank that works for your situation
Start by calling or visiting the bank where you already have an account. They know you and may have simpler rules for existing customers. If they do not offer what you need, ask them to recommend a bank that does.
If you do not have a bank account yet, call three banks in your area and ask the same questions: minimum age, whether a parent must be present, what documents you need, and whether they offer custodial or joint accounts. Write down the answers so you can compare.
Credit unions sometimes have lower age minimums and more flexibility than large banks. Call your local credit union and ask what they offer. You may need to live or work in a certain area to join, so ask about membership first.
What to do if the bank says no
If your bank will not open an account for your minor's age, you have two options. Wait until the minor is old enough for that bank, or switch to a bank with a lower age requirement. Switching is free—close the account at one bank and open it at another.
If you need the account right away, open a parent-only account in the minor's name at your current bank. You can transfer it to a custodial account later when the minor is old enough, or you can keep it as-is and transfer the money to the minor when they turn 18.
Some parents open a savings account for their child at birth and add the minor as a co-owner later when the bank allows it. This works fine and gives you time to shop around for the best option.
Frequently Asked Questions
Can a minor open a bank account without a parent?
No. All banks require a parent or legal guardian to be involved if the account holder is under 18. The parent must either co-sign the account, be present when it opens, or open it themselves in the minor's name. Some banks allow minors 16 or 17 to have some ownership, but a parent must still be listed on the account.
What is the youngest age a minor can open a bank account?
It depends on the bank. Some banks allow minors as young as 13, while others require 15 or 16. A few banks have no age minimum if a parent opens the account and keeps full control. Call your bank to ask what age they allow.
Can a minor access their own money in a custodial account?
It depends on the bank and the account rules. Some custodial accounts give the minor a debit card and online access so they can see the balance and make withdrawals. Others let only the parent withdraw money. Ask the bank what access the minor will have before you open the account.
Do I need to bring the minor to the bank to open an account?
Most banks prefer the minor to be present, but some allow the parent to open the account alone. Call ahead and ask. If the minor is very young, the bank may not require them to be there.
What happens to the account if the parent and minor disagree about spending?
In a joint account, either person can withdraw all the money without permission from the other. In a custodial account, the parent controls withdrawals until the minor turns 18. If conflict is likely, a custodial account gives the parent more protection, but once the minor turns 18, they own the money outright and can spend it however they want.