Most banks require a parent or guardian to open an account for anyone under 18
A teenager cannot walk into a bank alone and open a standard checking or savings account at most major banks. Banks treat minors as unable to enter into contracts, so they require a parent or legal guardian to co-sign and appear in person. The adult becomes responsible for the account and can see all transactions.
Some banks do offer teen accounts designed specifically for this situation — they let a teenager have their own debit card and some account control while a parent maintains oversight. These are not the same as a solo account. The parent still owns the account legally and can freeze it, see the balance, and set spending limits.
A few online banks and fintech companies have created accounts that give teenagers more independence, but even these typically require a parent to verify their identity and set up the account initially. The rules vary significantly by bank and by state, so the answer depends on which bank you approach and how old the teenager is.
Key Takeaways
- A parent or legal guardian must be present and co-sign to open a standard bank account for anyone under 18 at most major banks.
- Teen accounts let a teenager use a debit card and manage money while a parent retains full account access and control.
- Some online banks and fintech platforms offer teen accounts with fewer restrictions, but a parent still must set up the account and verify their identity.
- Age matters — some banks allow more independence at 16 or 17 than at 13, and rules differ by state.
- If a parent cannot be present, a legal guardian or custodian can co-sign instead, though you will need to bring court documents proving guardianship.
What happens when a parent opens a teen account
When a parent and teenager go to a bank together, the parent provides their ID and Social Security number. The teenager provides their ID (usually a school ID, state ID, or passport) and their Social Security number. The bank runs a background check on the parent and may check the teenager's name against fraud databases.
The parent becomes the account owner. The teenager's name appears on the account, but the parent has legal control. The parent can see every deposit and withdrawal, set daily spending limits on the debit card, and close the account without the teenager's permission. Some banks let the parent turn off online transfers or ATM withdrawals if they want to restrict what the teenager can do.
The teenager receives a debit card in their name and can use it to make purchases and withdraw cash. They may also get online banking access so they can check their balance and see their transaction history. The parent can usually see the same information and can set up alerts when the teenager spends above a certain amount.
Banks that let teenagers open accounts with a parent present
Chase, Bank of America, Wells Fargo, and most other major national banks offer teen checking accounts. These typically require the parent to come in person with the teenager. Some branches will not open teen accounts and will direct you to a different location, so call ahead before you go.
Credit unions often have teen accounts as well. If your family belongs to a credit union, ask whether they offer accounts for minors and what the parent's role is. Some credit unions are more flexible about age and oversight than banks are.
Online banks like Ally, Charles Schwab, and Fidelity have teen accounts that can be opened partly online. The parent still needs to verify their identity and sign documents, but they may not need to visit a physical location. The teenager's identity still needs to be confirmed, usually by uploading a photo ID or answering security questions.
Fintech and app-based accounts for teenagers
Companies like Greenlight, FamZoo, and Step offer debit card accounts designed for teenagers. These are not bank accounts in the traditional sense — they are prepaid card platforms that parents load money into. A parent sets up the account through an app, links their bank account, and can transfer money to the teenager's card.
These platforms give teenagers more control than a traditional teen account at a bank. The teenager can see their balance, make purchases, and sometimes set savings goals. The parent can still see all activity and set rules about what the card can be used for — some platforms let parents block certain types of purchases or require approval for spending above a limit.
The tradeoff is that these are not FDIC-insured bank accounts. The money is held by the platform or a partner bank, but if something goes wrong, your protections are different than they would be at a traditional bank. Read the fine print about what happens if the company fails or if the card is lost or stolen.
What to bring to open a teen account
| Document | Who needs it | What counts |
|---|---|---|
| Photo ID | Parent and teenager | Driver's license, state ID, passport, or school ID (varies by bank) |
| Social Security number | Parent and teenager | Card, tax return, or Social Security statement |
| Proof of address | Usually parent only | Utility bill, lease, mortgage statement, or government mail (dated within 60 days) |
| Guardianship papers | Legal guardian (if not parent) | Court order naming you as guardian or custodian |
Call the bank before you go. Different branches sometimes have different requirements, and some banks ask you to bring additional documents like a birth certificate or proof of income. Online banks will tell you exactly what to upload when you start the process.
If the teenager does not have a state ID or passport, a school ID usually works, but call first. Some banks will not accept school IDs and will ask for a passport or state ID instead. If the teenager has neither, you may need to get a state ID before opening the account.
When a parent cannot be present
If a parent is out of state or unable to visit a bank branch, some online banks and fintech platforms let the parent complete the process remotely. The parent verifies their identity through the app or website, and the teenager's identity is confirmed separately. This usually takes a few days longer than an in-person opening.
If a legal guardian or custodian needs to open the account instead of a parent, bring the court order that names them as guardian. Some banks will accept this; others will not and will require a parent. Call ahead to find out whether the bank will work with a guardian.
If neither parent can be involved and there is no legal guardian, the teenager cannot open a bank account. A grandparent, aunt, uncle, or older sibling cannot co-sign for a minor at a bank, even if they have the teenager's permission.
Age and account restrictions
Most banks will open accounts for teenagers as young as 13 or 14. Some have a minimum age of 16. A few will open accounts for children as young as 10, but these usually come with more restrictions — the parent may have tighter control over spending, and the teenager may not be able to use online banking or make transfers.
As the teenager gets older, some banks automatically increase what they can do. At 16 or 17, a teenager might be able to set up direct deposit or make online transfers without the parent's approval. At 18, the teenager can usually convert the account to a solo account without closing it and opening a new one.
State laws vary slightly on what a minor can do with a bank account. Some states allow a teenager to sue the bank if something goes wrong; others do not. These differences rarely affect day-to-day banking, but they matter if there is a dispute over a transaction or a lost card.
Frequently Asked Questions
Can a teenager open a bank account at 16 or 17 without a parent?
No. Even at 16 or 17, a parent or legal guardian must co-sign and be present or verify their identity. A few online banks may allow the parent to complete the process remotely, but a parent is still required. At 18, a teenager can open an account alone.
What if my parents are divorced and only one parent is available?
One parent can usually open a teen account alone. The bank does not require both parents to be present unless there is a custody order that says otherwise. If you have questions about custody, bring the custody order with you and ask the bank how they handle it.
Can a teenager get a credit card without a parent?
No. A teenager under 18 cannot get a credit card in their own name. A parent can add a teenager as an authorized user on the parent's credit card, which gives the teenager a card linked to the parent's account. The parent is responsible for all charges.
What happens to the account when the teenager turns 18?
The account usually stays open and the teenager can keep using it. At 18, the teenager becomes a legal adult and can take full control of the account. The parent's access does not automatically end — the teenager usually has to go to the bank and request that the parent be removed as a co-owner.
Can a teenager open a savings account instead of a checking account?
Yes. The same rules apply — a parent must co-sign. A savings account works the same way as a checking account in terms of who can open it and what control the parent has. Some teenagers have both a checking account (for spending) and a savings account (for money they want to keep).