What You Need to Open a Chase Account for a Child

Chase lets you open a savings account for a child under 18 by going to a branch in person with the child and a valid ID. You'll need your government-issued ID (driver's license, passport, or state ID), the child's Social Security number, and an initial deposit—usually $25 for a Chase Savings Account, though this can vary by location and current promotions.

The account is set up as a custodial account, meaning you (the parent or legal guardian) control it until the child reaches the age of majority in your state, typically 18 or 21. Chase does not currently offer online account opening for minors, so a branch visit is required.

You cannot open the account by phone or through Chase's website. The bank requires in-person verification to confirm your identity and the child's information before creating the account.

Key Takeaways

  • You must visit a Chase branch in person with the child, your ID, and the child's Social Security number to open an account.
  • An initial deposit of around $25 is typically required, though the exact amount may differ by branch and current offers.
  • The account operates as a custodial account under your control until the child reaches the age of majority in your state.
  • Chase offers a basic savings account for minors with no monthly maintenance fees, though interest rates are very low.
  • Once the child turns 18 or 21 (depending on your state), the account automatically converts to a standard adult account.

Documents and Information to Bring to the Branch

Bring your government-issued photo ID (driver's license, passport, or state ID card). Chase will scan or copy this during account opening. Bring the child's Social Security number—you'll need to provide it verbally or on a form; the bank will not ask for a Social Security card itself.

Bring a debit card, check, or cash for the initial deposit. Most branches accept all three. If you're unsure whether your local branch has a current deposit minimum or promotion, call ahead to confirm the amount.

If you are the child's legal guardian but not the biological parent, bring documentation of guardianship—a court order or custody agreement. Chase may ask to see this before proceeding.

Steps to Complete the Account Opening

Walk into your nearest Chase branch with the child and your documents. Tell a banker you want to open a savings account for a minor. The banker will ask for your ID and will verify your identity in their system.

Provide the child's name, date of birth, and Social Security number. The banker will enter this information into Chase's system and will explain the account terms—what the interest rate is (usually very low), whether there are any fees, and how the account works.

You will sign paperwork establishing yourself as the custodian. The child may be asked to sign as well, depending on the branch and the child's age, though this is not always required.

Make your initial deposit. The banker will process it and will give you a receipt. You'll receive a debit card in the mail within 7 to 10 business days, and online banking access will be set up immediately so you can monitor the account.

What Happens When the Child Turns 18 or 21

The account automatically converts to a standard Chase Savings Account when the child reaches the age of majority in your state. In most states this is 18, but some states set it at 21. Chase will send you and the child a notice before the conversion happens.

After the conversion, the child has full control of the account and can withdraw money, close it, or change the account type without your permission. Your access as custodian ends. If you want to remain involved in the account, the child will need to add you as an authorized user, which they can do through online banking or at a branch.

The child can also choose to move the account to a different bank at this time. There is no penalty for closing a Chase account.

Chase Savings Account Features for Minors

Chase Savings Accounts for minors have no monthly maintenance fees and no minimum balance requirement after the initial deposit. The interest rate is set by Chase and changes based on market conditions—it is typically very low, often less than 0.01% annually, meaning a $100 balance might earn less than a penny per year.

The account comes with a debit card, online banking access, and the ability to set up automatic transfers. You can transfer money between the child's savings account and a checking account if you open one, or between the child's account and your own Chase account.

The account is FDIC-insured up to $250,000, meaning if Chase fails, your money is protected by federal insurance. For a minor's account, this protection applies to the custodial account separately from your own accounts at Chase.

Alternatives if Chase Is Not Convenient

If you don't have a Chase branch nearby or prefer a different bank, most major banks and credit unions offer savings accounts for minors. Bank of America, Wells Fargo, Citibank, and most regional banks have similar programs requiring in-person opening with a parent or guardian and a child's Social Security number.

Some online banks like Ally and Marcus do not offer accounts for minors under 18. Credit unions often have lower fees and slightly better interest rates than large banks, though you must be a member or meet membership requirements to open an account.

If you want to teach the child about saving without opening a formal bank account, some parents use a simple savings jar or a spreadsheet to track money. This has no interest and no FDIC protection, but it requires no paperwork or branch visit.

Common Issues and How to Resolve Them

If you arrive at a Chase branch and the banker says they cannot open an account for a minor, ask to speak with a manager. Policies can vary slightly by branch, and a manager may be able to override a restriction or explain why the branch cannot proceed. Call your local branch ahead of time to confirm they open minor accounts.

If the child's Social Security number is not yet issued, you can still open the account in most cases—Chase will ask you to provide it within 30 days. If you don't have it yet, contact the Social Security Administration to request one; processing takes about two weeks.

If you lose access to the account or forget your online banking password, call Chase customer service at the number on the back of the debit card or visit a branch. You'll need to verify your identity with your ID.

Frequently Asked Questions

Can I open a Chase account for a minor online or by phone?

No. Chase requires in-person account opening for minors. You must visit a branch with the child, your ID, and the child's Social Security number. Phone and online opening are not available for accounts under 18.

What if the child doesn't have a Social Security number yet?

You can open the account and provide the Social Security number within 30 days. If you don't have one yet, request it from the Social Security Administration—processing usually takes about two weeks. Call your local Chase branch to confirm they will hold the account open while you obtain the number.

Do I need to bring the child to the branch?

Yes. Chase requires the child to be present during account opening. The banker needs to see the child in person to verify the information you provide and to explain the account terms.

What is the interest rate on a Chase minor savings account?

Chase Savings Account interest rates are very low—typically less than 0.01% annually. The exact rate changes based on market conditions and is set by Chase. You can check the current rate on Chase's website or ask at your branch.

Can the child withdraw money without my permission?

No, not while the account is custodial. You control the account until the child reaches the age of majority (18 or 21, depending on your state). Once the account converts to an adult account, the child has full control and can withdraw money anytime.