Yes, but most banks require a parent or guardian to co-own the account

A person under 18 can open a bank account, but the rules depend on the bank and your age. Most major banks will not let you open an account alone until you turn 18. Instead, they offer youth accounts or teen accounts where a parent or guardian must be a co-owner and co-signer on the account. You and the adult both have full access to the money and can make deposits and withdrawals.

Some banks set a minimum age—often 13 or 14—before they will let you open even a joint account. A few banks and credit unions have no minimum age if a parent opens it with you. Once you turn 18, you can convert the account to your name alone, or open a separate account that belongs only to you.

Key Takeaways

  • Most banks require a parent or guardian to co-own a youth account with you until you turn 18.
  • You will need to bring a parent or guardian to the bank in person, along with their ID and yours (state ID, passport, or school ID).
  • Different banks have different minimum ages—some start at 13, others at 16—so call ahead before you go.
  • Once you turn 18, you can remove the parent from the account or open a new account in your name alone.

What documents you need to bring

To open a joint account with a parent, bring two forms of ID. For you, this can be a state ID, passport, school ID, or driver's license. For the parent or guardian, a driver's license or passport works. Some banks also accept a birth certificate for the minor if you do not have a state ID yet.

The bank will also ask for proof of address—usually a utility bill, lease, or mortgage statement in the parent's name. Bring the original or a recent copy. If you have a Social Security number, bring that too, though some banks can look it up if you provide your name and date of birth.

Types of accounts available to teens

Most banks offer a teen checking account or youth account designed for people under 18. These accounts usually come with a debit card, online banking, and the ability to set up direct deposit. Some banks limit how many transactions you can make per month, or charge a monthly fee if you do not keep a minimum balance.

A few banks offer savings accounts for minors instead of or in addition to checking. These earn interest on the money you deposit, though the rate is usually very low. Credit unions sometimes offer both checking and savings options and may have lower fees than big banks. Ask the bank whether the account has monthly fees, transaction limits, or a minimum balance requirement. Some waive fees if a parent has an account at the same bank, or if you set up direct deposit from a job.

What happens when you turn 18

When you reach 18, you have choices. You can keep the joint account open and ask the parent to remove themselves as a co-owner, leaving you as the sole owner. You can also open a brand-new account in your name alone at the same bank or a different one, and move your money over.

Some banks automatically convert a youth account to an adult account on your 18th birthday. Others require you to visit the bank or call to make the change. Check with your bank about their policy so you are not surprised by a change in fees or features.

Banks and credit unions that offer teen accounts

Most major banks and credit unions have teen account options, though the minimum age and features vary. Chase, Bank of America, and Wells Fargo all offer youth checking accounts starting at ages 13 to 14, with a parent as co-owner. Online banks like Ally typically do not offer teen accounts because they cannot verify your identity without an in-person visit. Many local and regional credit unions have more flexible policies and may accept a different trusted adult if a parent is not available.

Requirements change, so contact your bank directly to confirm the current minimum age and what documents you need. If your bank does not offer a teen account, ask whether they will open a regular checking account with a parent as co-owner. Comparing two or three options before you decide can help you find the lowest fees and best features for your situation.

What to do if you cannot get a parent to co-sign

If a parent or legal guardian is not available, some credit unions will work with a different trusted adult—an aunt, uncle, or older sibling—as the co-owner. Call your local credit union and explain your situation. They have more flexibility than large banks and may be willing to work with you.

If no adult can co-sign, you will have to wait until you turn 18 to open an account in your name alone. In the meantime, you can ask a trusted adult to hold money for you, though this is not as safe as having your own account. Some employers will also set up direct deposit to a parent's account if you are working and need to deposit paychecks.

How to find a bank or credit union near you

Search online for "banks near me" or "credit unions near me" to find branches in your area. Visit the website of each bank or credit union and look for a page about teen accounts or youth banking. Call the branch directly and ask whether they offer accounts for your age, what the minimum balance is, and whether there are monthly fees.

If you have a parent who already banks somewhere, start there—many banks waive fees or offer better terms if multiple family members have accounts. If not, compare at least two or three options before you decide. This takes only a few phone calls and can save you money over time.

Frequently Asked Questions

Can I open a bank account at 13 without a parent?

No. At 13, you will need a parent or legal guardian to co-own the account with you. Some banks do not offer accounts to anyone under 14 or 16, so call ahead. You cannot open an account in your name alone until you turn 18.

What if I want to open an account online instead of going to a branch?

Most online banks do not offer teen accounts because they cannot verify your identity without an in-person visit. You will need to go to a physical branch with a parent. A few online banks partner with local branches to handle teen account openings, so check their website first.

Can my older sibling be the co-owner instead of a parent?

Most banks require a parent or legal guardian. Some credit unions will accept an older sibling or other adult relative if a parent is not available. Call your credit union and ask—they have more flexibility than big banks.

Will opening a bank account hurt my credit score?

No. Opening a checking or savings account does not affect your credit score. Credit scores are based on borrowing and repaying loans, not on having a bank account. You can open an account without any impact on your credit.

What happens if I lose my debit card?

Call the bank immediately and tell them your card is lost. They will cancel it and send you a new one, usually within 5 to 10 business days. Most banks let you order a replacement online or by phone. Until the new card arrives, you can withdraw cash at an ATM or ask the parent on the account to help you access your money.