Yes, you can open a bank account under 18, but a parent or guardian must be on the account with you

Most banks allow minors to open accounts, but they require a parent or legal guardian to co-own the account or act as a custodian. You cannot open an account by yourself until you turn 18. The adult on the account has full access to the money and can make decisions about it, though some banks let you set up separate permissions so you can manage your own debit card and online banking.

The specific rules depend on the bank. Some banks let minors as young as 13 open accounts; others require you to be 16 or older. A few banks have special teen accounts with built-in limits on spending or transfers. Your parent or guardian will need to bring a government ID and proof of address, and you'll need to bring a form of ID — usually a school ID, passport, or state ID card.

Key Takeaways

  • You need a parent or legal guardian to co-sign or co-own your account; you cannot open one alone until age 18.
  • Minimum age requirements vary by bank, ranging from 13 to 16 years old.
  • Your parent will need to provide government ID and proof of address; you'll need an ID of your own.
  • Some banks offer teen accounts with spending limits or restrictions that give you more control while keeping safeguards in place.
  • Once you turn 18, you can convert the account to your name alone or open a separate account without a co-owner.

What documents you and your parent need to bring

Your parent or guardian will need a government-issued photo ID (driver's license, passport, or state ID) and proof of current address. Proof of address can be a recent utility bill, lease agreement, mortgage statement, or bank statement showing their name and address. Some banks accept a government ID as proof of address if it's current.

You'll need an ID as well. A school ID, state ID card, passport, or learner's permit all work. If you don't have any of these, ask the bank whether they accept other forms of ID — some will take a birth certificate or school enrollment letter along with something else that shows your name. Bring both pieces of ID to the appointment; don't rely on the bank having one on file.

How age requirements differ by bank

Chase allows minors as young as 13 to open a Chase First Banking account with a parent. Bank of America has a similar program starting at age 13. Wells Fargo requires you to be at least 16. Credit unions often have lower age minimums — many accept children as young as 12 or 13 if a parent is present.

If you're under the age requirement at your preferred bank, you have two options: open an account at a different bank that accepts younger minors, or wait until you meet the age requirement. Some families open accounts at credit unions because they tend to have lower age minimums and often offer better rates on savings accounts for young people.

Teen accounts and what makes them different

Teen accounts are designed to give you more independence while keeping your parent in the loop. Chase First Banking and Bank of America's Advantaged Youth account both let you use a debit card and online banking, but your parent can set spending limits, see all transactions, and restrict certain types of purchases. Some teen accounts block online shopping or ATM withdrawals above a certain amount.

These accounts are useful if you want to learn how to manage money without your parent having to approve every purchase. The tradeoff is that your parent can still see everything and change the rules. Once you turn 18, you can convert the account to a standard account in your name alone, or your parent can remove themselves as co-owner.

Opening the account in person versus online

Most banks require you to open a teen account in person at a branch, with your parent present. You cannot do it entirely online because the bank needs to verify both your identity and your parent's identity in real time. Call ahead or check the bank's website to see whether you need an appointment or can walk in during business hours.

A few online banks accept minors, but they still require a parent to verify their identity online using a video call or by uploading documents. The process usually takes 10 to 15 minutes if you have all your documents ready. After the account opens, you can manage it online or through the bank's app.

What happens to the account when you turn 18

When you turn 18, you have choices. You can keep the account as is, with your parent still as co-owner — some people do this to maintain a joint account for family purposes. You can ask your parent to remove themselves as co-owner, leaving you as the sole owner. Or you can open a new account in your name alone and transfer the money over.

The bank will not automatically change anything when you turn 18. Contact the bank and tell them what you want to do. If your parent is removing themselves, they'll need to sign a form or visit the branch with you. This process usually takes a few days. If you're moving to a new account, you can set up a transfer between the two accounts, which typically takes one to three business days.

If your parent won't co-sign or you don't have a parent available

If your parent refuses to co-sign, you cannot open a bank account until you turn 18. Some teens in this situation use a trusted adult — an older sibling, grandparent, or aunt or uncle — as the co-owner instead. That adult has the same legal rights as a parent would, so choose someone you trust completely.

If you don't have a parent or guardian available, you may be able to work with a legal guardian, foster parent, or the state agency overseeing your care. Each bank handles this differently, so call and explain your situation. Some banks have procedures for teens in foster care or under state custody. Credit unions are often more flexible in these cases.

Frequently Asked Questions

Can I open a bank account without my parent knowing?

No. The bank requires a parent or legal guardian to be present and to provide ID. You cannot hide an account from your parent — the bank will not open one without them. If you're concerned about privacy, talk to your parent about what information they'll see and whether you can set boundaries around certain transactions.

What if my parent and I disagree about spending limits?

If your parent sets limits you think are too strict, have a conversation with them about what you need the account for. Some banks let you request higher limits, and your parent can approve or deny the request. You can also wait until you turn 18 and open your own account without restrictions.

Do I need a Social Security number to open an account?

Yes. The bank will ask for your Social Security number when you open the account. If you don't have one, you can request one from the Social Security Administration before you go to the bank. The process takes about two weeks.

Can I have a savings account instead of a checking account?

Yes. Most banks offer both. A savings account is simpler if you're just saving money and don't need a debit card. A checking account with a debit card is better if you want to spend money and track purchases. Many teen accounts combine both — a checking account with a debit card and a linked savings account.

What if I want to move my account to a different bank after I turn 18?

You can open a new account at any bank once you turn 18 and transfer your money over. The transfer usually takes one to three business days. You can close the old account once the money arrives, or keep it open if your parent wants to maintain a joint account for other reasons.