Yes, you can open a bank account under 18, but you'll need a parent or guardian
Most banks let you open an account before you turn 18, but the process differs from opening one as an adult. You cannot open an account alone — a parent or legal guardian must be present and sign the paperwork. The account will be in both your names, and they will have access to it and control over it until you reach the age of majority in your state (usually 18, sometimes 19 or 21).
The specific rules depend on the bank and your state. Some banks have dedicated teen or student accounts with lower minimum balances and fewer fees. Others let you open a regular checking or savings account with a parent co-signer. A few banks set their own age limits — some require you to be at least 13, others 16 — so calling ahead saves a wasted trip.
Key Takeaways
- You need a parent or legal guardian present in person to open an account; they will be a co-owner until you reach the age of majority in your state.
- Bring your Social Security number, a government ID (school ID may work), and proof of address; your parent will need their ID and proof of address too.
- Teen and student accounts often have no monthly fees, no minimum balance, and limited overdraft risk, making them simpler than regular accounts.
- Once you turn 18, you can remove your parent from the account or open a separate one in your name alone, depending on the bank's policy.
What documents you and your parent need to bring
Bring your Social Security number and a government-issued ID. A school ID counts at many banks, though some require a state ID, passport, or learner's permit. If you don't have any of these, ask the bank what they will accept before you go.
You will also need proof of your current address — a utility bill, lease, or bank statement in your name or your parent's name works. Your parent will need their own government ID (driver's license, passport, or state ID) and proof of their address. Some banks ask for both documents; others accept just the ID if the address is on it.
If you're opening the account online or by mail, the bank will tell you how to submit these documents — usually by uploading a photo or mailing copies. In-person is faster and reduces the chance of rejection due to unclear photos.
How teen and student accounts differ from regular accounts
Teen accounts are designed for people under 18 and typically have no monthly maintenance fee. Regular checking accounts often charge $10 to $15 per month if you don't keep a minimum balance, so a teen account saves money if you're starting with small amounts.
Teen accounts also limit overdraft risk. Many have no overdraft protection, meaning if you spend more than you have, the transaction is declined rather than approved and charged a fee. Some banks let you opt into overdraft protection, but it's not automatic. Regular accounts often charge $30 to $35 per overdraft, so this protection matters if you're learning to manage money.
Debit card access is the same — you get a card and can use it online and in stores. Online banking and mobile apps work the same way too. The main difference is that your parent can see all transactions and set spending limits on the debit card at some banks.
What happens when you turn 18
When you reach 18, you have options. You can ask the bank to remove your parent as a co-owner, making the account yours alone. You can also open a new account in your name only and transfer the money over. Some banks do this automatically; others require you to visit a branch or call and request it.
Check with your bank about their specific process before your 18th birthday. Some banks charge a fee to remove a co-owner; most do not. If your parent wants to stay on the account for oversight, they can, but you can also ask them to leave.
If you've built a good history with the bank — regular deposits, no overdrafts, no fraud — turning 18 is a good time to ask about higher limits on your debit card or a credit card to start building credit.
Banks and credit unions that accept under-18 accounts
Most major banks offer teen or student accounts. Chase, Bank of America, Wells Fargo, and Citibank all have programs for people under 18. Credit unions often have lower fees and simpler requirements — ask your parents if they belong to one, because many let family members join.
Online banks like Ally, Charles Schwab, and Discover have fewer physical branches, so you may need to open the account online or by mail with your parent's help. Call or check their website first to confirm they accept under-18 account holders and what their age minimum is.
Local and regional banks vary widely. Some welcome teen accounts; others don't. A quick phone call to your bank's customer service line will tell you whether they offer them and what you need to bring.
Opening an account if your parent can't come with you
If your parent cannot visit a branch in person, many banks let you open an account online or by mail. Your parent will need to verify their identity and sign documents electronically or by mail. The process takes longer — usually one to two weeks instead of same-day — and requires uploading clear photos of both your IDs and proof of address.
Some banks use video verification, where you and your parent both appear on a video call with a bank representative who confirms your identities and watches you sign the paperwork electronically. This is faster than mailing documents and takes about 15 minutes.
If neither of you can visit a branch and the bank doesn't offer online or video opening, you may need to wait until you can both go in person. A few banks will not open accounts for minors without an in-person visit, so ask first.
What to do if a bank turns you down
Banks rarely reject under-18 applicants if a parent is present and both of you have valid ID. The most common reason for rejection is missing documents — for example, no proof of address or an ID that's expired. Ask what's missing and bring it back.
If the bank says they don't accept account holders under a certain age (like 16), try another bank. Credit unions are often more flexible. If you've been rejected multiple times, it may be because of a ChexSystems report — a record banks check to see if you've had fraud or unpaid overdrafts at other banks. You can request a free copy of your ChexSystems report online and dispute errors.
If your parent has a poor banking history or credit issues, the bank may still open an account for you, but confirm this before you go. Some banks will not open a joint account if the co-owner has recent fraud or unpaid fees at that bank.
Frequently Asked Questions
Can I open a bank account without my parent knowing?
No. You need a parent or legal guardian present to open an account under 18, and they must sign the paperwork. If you're in foster care or have a court-appointed guardian, that person can co-sign instead of a biological parent.
Will my parent be able to see all my transactions?
Yes, as a co-owner they have full access to the account and can see every deposit and withdrawal. Some banks let you set up alerts so your parent is notified of large transactions, but they cannot be hidden. If privacy matters to you, talk to your parent about what they plan to monitor.
Can I get a credit card under 18?
Not a traditional credit card in your name alone. You can become an authorized user on your parent's credit card, which builds your credit history without requiring your own account. Once you turn 18, you can open a credit card in your name, though you may need a co-signer if you have no credit history.
What if I lose my debit card?
Call the bank's customer service number on the back of your card or go to a branch. They will cancel the old card and send a replacement, usually within 5 to 10 business days. Most banks issue a temporary card number you can use online while you wait, or your parent can lend you theirs.
Do I need a minimum balance to keep the account open?
Teen accounts usually have no minimum balance requirement. Regular accounts often require $100 to $500 to avoid monthly fees. Check your bank's specific rules before you open the account, because this affects whether you'll be charged fees if your balance drops.