Yes, minors can have checking accounts, but the account structure depends on the child's age and the bank
Most banks allow children under 18 to open checking accounts, but not independently. A parent or legal guardian must open the account jointly with the child, be listed as a co-owner, and retain full legal control until the child turns 18. The account belongs to both of you until that age threshold, which means you can see all transactions, set spending limits, and close the account if needed.
Some banks set a minimum age—often 13 or older—before a child can be added to a checking account. A few banks have no age minimum and allow accounts for children of any age, though a parent must manage it entirely until the child is old enough to use the debit card. The specific rules vary by bank, so you will need to contact your institution or visit a branch to learn what they offer.
The account gives your child a way to learn money management, receive direct deposits (like allowance or earnings from a job), and make purchases with a debit card. It also creates a banking history that can help them later when they want to open their own account or borrow money.
Key Takeaways
- A parent or legal guardian must open the account with the child and remain a co-owner until the child turns 18.
- Most banks require the child to be at least 13 years old, though some allow younger children if a parent manages the account.
- You will have full visibility into the account and can set restrictions on spending, withdrawals, or card use depending on the bank's tools.
- The account can receive direct deposits, transfers, and debit card purchases, giving your child hands-on experience with banking.
- When your child turns 18, you can remove yourself as a co-owner, and the account becomes theirs alone.
Age requirements and what banks typically allow
Most major banks—including Chase, Bank of America, Wells Fargo, and Citibank—allow children as young as 13 to open a checking account with a parent. Some regional banks and credit unions set the minimum at 16 or 17. A handful of banks, including some online-only institutions, have no stated age minimum and will let you open an account for a younger child if you are the primary account holder.
The age limit matters because it determines whether your child can use a debit card and access the account independently. If your child is younger than the bank's minimum, you can still deposit money into a savings account in their name, but they will not be able to make purchases or withdraw cash on their own until they reach that age.
Before you visit a branch or apply online, call your bank or check their website for their specific age policy. The rules can differ between branches, and some banks have changed their policies in recent years. Having this information ahead of time saves a wasted trip.
What documents and information you will need to bring
To open a joint checking account, bring a government-issued photo ID for yourself (a driver's license or passport), proof of your current address (a recent utility bill or lease), and your Social Security number. Your child will need their Social Security number as well, though they typically do not need a photo ID if they are under 16.
Some banks ask for a second form of ID or proof of address, so check ahead. If you are opening the account online, you may be able to upload images of these documents instead of visiting a branch. If you are opening it in person, bring the originals or certified copies.
You will also need to decide whether your child will receive a debit card immediately or later. If they are very young, you might delay the card until they are old enough to understand how to use it safely. The bank can add the card to the account at any time after the account is open.
How parental controls and spending limits work
Most banks that offer youth checking accounts include tools that let you monitor and restrict spending. These tools vary widely by institution. Some banks let you set a daily spending limit on the debit card, block certain types of purchases (like online transactions or ATM withdrawals), or require your approval before large purchases go through.
Other banks offer real-time alerts—a text or email notification every time your child uses the card—so you know what they are spending without having to log in and check the account. A few banks have apps designed specifically for parents, with features like chore tracking or automatic allowance transfers on a set schedule.
Not all banks offer the same controls, and some offer none at all beyond the basic ability to see transaction history. If parental oversight tools are important to you, ask the bank what options are available before you open the account. You can also change your settings later if you want to give your child more independence as they get older.
How the account transitions when your child turns 18
When your child reaches 18, the account does not automatically close or change. Instead, you have the option to remove yourself as a co-owner, which converts the account to one in your child's name alone. This is a simple process—usually a phone call or a visit to the branch—and takes a few days to process.
If you do not remove yourself, you remain a co-owner and retain access to the account. Some parents choose to stay on the account for a while longer to help their child manage money, while others step back immediately. There is no legal requirement either way, so the choice is yours and your child's.
Before your child turns 18, it is a good idea to talk with them about what will happen and whether they want you to stay on the account. This conversation also gives you a chance to review their spending habits and make sure they understand how to manage the account independently.
Comparing youth checking accounts across different banks
| Bank | Minimum Age | Monthly Fee | Debit Card Available | Parental Controls |
|---|---|---|---|---|
| Chase First Banking | 6 years old | None | Yes, at age 13+ | Spending limits, transaction alerts |
| Bank of America BankSafe | 13 years old | None | Yes | Transaction alerts, card controls |
| Wells Fargo Way2Save | 13 years old | None | Yes, at age 13+ | Spending limits, alerts |
| Greenlight (app-based) | 6 years old | $4.99–$14.99/month | Yes, physical or virtual | Extensive: chores, allowance automation, block merchants |
| Fidelity Youth Account | 13 years old | None | Yes | Spending limits, alerts, investment education |
The table above shows some common options, but it is not exhaustive. Credit unions often have youth accounts too, and their terms may differ from national banks. Fees, features, and age requirements change, so verify current details with the bank before opening an account.
If you are choosing between options, consider whether you want parental controls built in, whether you prefer a traditional bank branch or an app-based service, and whether you are willing to pay a monthly fee for extra features. Many traditional banks offer youth accounts with no monthly fee, while some newer app-based services charge a subscription but offer more detailed parental oversight.
What happens if your child loses the debit card or it is stolen
If your child's debit card is lost or stolen, contact the bank immediately—most banks have a 24-hour fraud line. The bank will cancel the card and issue a replacement, which usually arrives within 7 to 10 business days. While you wait, your child can still access the account through an ATM using a PIN, or you can transfer money to another account if they need cash urgently.
If someone uses the card without permission before you report it lost, federal law limits your liability to $50 if you report the loss within two business days. If you wait longer, your liability can be higher. Most banks also offer fraud protection that covers unauthorized transactions, but you need to report them promptly.
To reduce the risk of loss or theft, teach your child to keep the card in a safe place and to tell you immediately if it goes missing. Some banks also let you temporarily freeze or disable the card through their app if your child cannot find it, which buys you time before you have to cancel it permanently.
Frequently Asked Questions
Can my child open a checking account without me?
No. Federal law requires a parent or legal guardian to open and co-own the account until the child turns 18. Your child cannot open an account in their name alone until they reach 18 years old.
Will my child's checking account affect their credit score?
No. Checking accounts do not appear on credit reports and do not affect credit scores. Only credit products like credit cards, loans, and lines of credit show up on credit reports. A checking account is purely a banking product, not a credit product.
Can I set up automatic allowance transfers to my child's account?
Yes. Most banks allow you to set up recurring transfers from your account to your child's account. Some youth-focused banks and apps (like Greenlight or FamZoo) automate this further and let you schedule allowance payments or tie them to chores. Check with your bank about their transfer options.
What if my child spends all the money in the account?
The account will have a zero balance, but it will not close. Your child cannot overdraft a checking account (go below zero) unless you have specifically linked it to a savings account or overdraft protection. If you want to prevent overspending, use the bank's spending limit tools or monitor the account regularly.
Can my child use the account to receive paychecks from a job?
Yes. If your child has a job, their employer can set up direct deposit to the checking account. This is one of the main reasons to open an account—it teaches your child how to receive and manage earned income. Make sure your child has their account number and routing number to give to their employer.