Yes, but banks set the age and rules
Most banks let children open a checking account, but the terms depend on the child's age and the bank's own policy. A child under 18 typically cannot open an account alone — a parent or guardian must be on the account as well, usually as a joint owner or custodian. Some banks allow this as early as age 6 or 7; others wait until age 13 or older. The account itself works like an adult checking account — a debit card, check writing, online access — but with limits the bank or parent sets.
The reason for the age requirement is legal: minors cannot sign binding contracts, so banks need a parent's signature and responsibility. The reason for the limits is practical: banks want to reduce fraud risk, and parents want to teach spending habits without handing over unlimited access.
Key Takeaways
- Most major banks offer checking accounts for children ages 6 to 13 and up, but a parent must be a joint owner or custodian on the account.
- The account comes with a debit card and online access, and the parent can set spending limits, transaction alerts, and restrictions on withdrawals.
- Some banks charge monthly fees for teen accounts; others waive fees if a minimum balance is kept or direct deposit is set up.
- The account reports to the child's credit file only if the parent is a co-signer; a custodial account typically does not build credit history.
- You can compare terms by calling banks directly or visiting their websites, because policies vary widely and change by location.
Age requirements and account types across major banks
Banks offer two main structures for children's accounts. A joint account lists both the child and parent as owners with equal access and responsibility. A custodial account names the parent as custodian, meaning the parent controls the account until the child reaches the age of majority (usually 18 or 21, depending on state law). Joint accounts are more common for younger children; custodial accounts are more common for teens who need more independence.
Chase allows children as young as 6 to open a Chase First Banking account with a parent; the account includes a debit card and online access, and the parent controls spending limits through the Chase mobile app. Bank of America offers a similar product starting at age 8. Wells Fargo allows accounts for children 10 and older. Credit unions often have lower age minimums and fewer fees — many allow accounts for children 7 and up. Local and regional banks vary widely, so calling ahead is worth the time if you have a specific bank in mind.
The account type also affects what the child can do. Most children's checking accounts do not include check-writing privileges until age 13 or older, because younger children are less likely to understand how checks work. Debit cards are standard. Online and mobile banking access is standard, though the parent usually controls what the child can see and do.
What controls and limits parents can set
The main appeal of a children's checking account is that the parent can monitor and restrict spending in real time. Most banks let the parent set a daily spending limit on the debit card — for example, $20 per day or $100 per week. The parent can also turn the card on or off instantly through the mobile app, which is useful if the card is lost or if the child is overspending.
Transaction alerts are another standard feature. The parent can receive a text or email notification every time the child uses the card, or only when the balance drops below a certain amount. Some banks let the parent restrict what types of purchases the card can be used for — for example, blocking online purchases or gas station transactions. The parent can also see the full transaction history and account balance at any time.
Withdrawal limits at ATMs are less common but available at some banks. A few banks let the parent set a maximum amount the child can withdraw per day or per transaction, which can help prevent the child from emptying the account at once. However, most banks do not offer this level of control, so ask before opening an account if this matters to you.
Monthly fees and how to avoid them
Many banks charge a monthly maintenance fee for teen checking accounts — typically $5 to $10 per month. However, most banks waive the fee if one of these conditions is met: a minimum balance is maintained (often $100 to $500), direct deposit is set up (such as from a part-time job or allowance), or the account is linked to a parent's account at the same bank.
Some banks charge no monthly fee at all for children's accounts, especially credit unions and online banks. Ally Bank, for example, offers no-fee checking for teens. Many credit unions offer youth accounts with no monthly fee as a matter of policy. If fees are a concern, compare the fee structure before opening an account — the difference over a year can be $60 to $120.
Overdraft fees are another cost to watch. If the child spends more than the account balance, the bank may charge an overdraft fee of $25 to $35 per transaction. Most banks let the parent disable overdraft protection, which means the card will simply decline if there is not enough money — a safer option for teaching spending discipline.
How a children's account affects credit history
A custodial checking account does not build the child's credit history, because the account is in the parent's name legally. The child's Social Security number may be on file, but the account activity does not report to the credit bureaus. This is actually a benefit: the child's credit file stays clean, and there is no risk of the account damaging their credit score.
A joint account where the child is a true co-signer may report to the credit bureaus, depending on the bank's policy. However, most banks do not report children's accounts to credit bureaus at all, even if the child is a joint owner. If building credit history is a goal, a joint account with a parent who has good credit can help, but you should ask the bank directly whether they report the account to the bureaus.
Once the child turns 18, the account can usually be converted to a standard adult account in the child's name alone, or the child can open their own account. At that point, the child's own financial behavior — payments, balances, credit inquiries — will start to build their credit history.
How to open an account and what you will need
To open a children's checking account, you will need to visit a branch or apply online, depending on the bank. Bring a government-issued ID for the parent (driver's license or passport) and the child's birth certificate or Social Security card. Some banks also ask for proof of address, such as a recent utility bill or lease.
If you apply online, the bank will usually ask you to verify your identity by uploading a photo of your ID and answering security questions. Some banks require an in-person visit to complete the process, especially for younger children. Call the bank ahead of time to confirm what documents you need and whether you can complete the process online or must visit a branch.
Once the account is open, the bank will mail a debit card to the address on file, usually within 5 to 10 business days. The parent can set up spending limits and alerts through the mobile app or online banking portal before the card arrives. Some banks let you set limits before the account is even funded, so the child can start learning the rules immediately.
Alternatives if a bank account is not the right fit
If a traditional checking account feels like too much responsibility or too many fees, other options exist. A prepaid card for kids works like a debit card but is not linked to a bank account — you load money onto the card, and the child can spend only what is loaded. Cards like Greenlight, FamZoo, and GoHenry are designed for this purpose and include parental controls and spending limits. Prepaid cards typically cost $5 to $15 per month but have no overdraft risk and no credit reporting.
A savings account is another option if the goal is to teach saving rather than spending. Most banks offer children's savings accounts with no monthly fee and a small interest rate. The child can deposit money but cannot spend it with a debit card, which removes the temptation to overspend. Many parents open both a savings account and a checking account, with the checking account for spending and the savings account for long-term goals.
A 529 education savings plan is not a checking account but is worth knowing about if the child is saving for college. It offers tax advantages and is not meant for everyday spending. However, if you are looking for a way to help a child save money with tax benefits, a 529 is worth researching.
Frequently Asked Questions
Can a child open a checking account without a parent?
No. A child under 18 cannot sign a contract, so a parent or legal guardian must be on the account. The parent is legally responsible for the account, even if the child uses the debit card. Some banks allow the child to manage the account through an app once they turn 13, but the parent remains the account owner.
What happens to the account when the child turns 18?
The account can stay open and be converted to a standard adult account in the child's name alone, or the child can open a new account. Most banks allow the conversion without closing and reopening, which keeps the account history intact. The parent's name can be removed at that time if both the parent and child agree.
Can the child use the debit card online and at stores?
Yes, most children's debit cards work anywhere a regular debit card works — online retailers, grocery stores, gas stations, ATMs. The parent can restrict certain types of purchases through the bank's app, such as blocking online transactions or setting a daily spending limit. Some banks also let the parent turn the card on or off instantly.
What if the child loses the debit card?
Call the bank immediately to report the card lost or stolen. The bank will cancel the card and mail a replacement, usually within 5 to 10 business days. Most banks do not charge a replacement fee for children's accounts. Until the new card arrives, the child can still access the account through online banking or by visiting a branch with the parent.
Do I need to keep a minimum balance?
It depends on the bank. Some banks waive the monthly fee if a minimum balance is kept, often $100 to $500. Others waive the fee if direct deposit is set up instead. A few banks charge no monthly fee regardless of balance. Check the bank's fee schedule before opening an account, or ask a banker to explain the fee waiver options.