You can open a bank account under 18, but a parent or guardian must co-sign or be the account owner

Most banks will not let you open an account alone until you turn 18. Instead, you have two main paths: a joint account where a parent or guardian is the co-owner, or a custodial account where they own it legally but you use it. Some banks also offer teen checking accounts designed specifically for minors, which sit somewhere between the two—your parent has oversight but you have your own debit card and online access.

The exact rules depend on the bank. A few banks let you open an account at 13 or 14 with parental permission; others require you to be 16. The fastest way to find out what your bank offers is to call their customer service line or visit a branch in person with a parent or guardian. Bring a government-issued ID (usually a school ID or passport) and proof of address.

Key Takeaways

  • You need a parent or guardian to co-sign or co-own your account; no bank will let you open one alone before 18.
  • Teen checking accounts let you manage your own money with a debit card while your parent monitors the account online.
  • Custodial accounts are owned by your parent legally but can be transferred to you when you turn 18 or 21, depending on the bank.
  • Bring your ID and proof of address (like a school ID and utility bill) when you visit the bank with your parent.
  • Online banks often have lower minimums and fewer fees than traditional banks, but you may need to visit a branch or use a partner ATM network.

Joint accounts: the most common option

A joint account has two owners—you and your parent—and both names appear on the account. Your parent can see all transactions, set spending limits, and freeze the account if needed. You get your own debit card and can withdraw money, make deposits, and check your balance online or at an ATM.

The main advantage is simplicity: most banks offer joint accounts, and there are no special rules or age restrictions beyond what the bank sets (usually 13 or older). The main disadvantage is privacy—your parent sees everything you spend. When you turn 18, you can ask the bank to remove your parent as a co-owner, though some banks require both of you to agree.

Teen checking accounts: designed for your age

Several large banks and many online banks offer accounts specifically for teenagers. These usually let you open an account at 13 or 16 (depending on the bank) with a parent's permission. You get a debit card, online banking, and sometimes a mobile app. Your parent can set up alerts, control spending limits, and monitor activity, but the account is in your name.

Teen accounts often come with lower or no monthly fees, no minimum balance requirement, and educational tools about money management. Chase, Bank of America, Wells Fargo, and Ally all offer versions. Credit unions in your area may also have teen accounts. The trade-off is that features vary widely—some let you overdraft, others do not; some charge fees for certain transactions, others do not. Ask the bank directly what you get and what it costs.

Custodial accounts: ownership transfers when you're older

A custodial account is owned by your parent or guardian under a legal arrangement called UTMA (Uniform Transfers to Minors Act) or UGMA (Uniform Gifts to Minors Act). Your parent controls the account while you are a minor, but the money is legally yours. When you reach the age of majority—usually 18 or 21, depending on your state and the bank—the account automatically becomes yours to control.

Custodial accounts are useful if a parent wants to set aside money for you without you having access to it yet. They are also common when grandparents or relatives want to give you money as a gift. The downside is that you cannot touch the money until the account transfers to you, so it is not practical if you need a debit card now. Ask your bank what age the account transfers to you in your state.

What documents you need to bring

Bring your parent or guardian and at least two forms of ID. One should be government-issued (passport, school ID, or state ID). The other can be a school ID, report card, or utility bill with your name and address. Some banks also ask for a Social Security number, which your parent likely has on file.

If you are opening the account online, you may be able to upload photos of your documents instead of visiting a branch. However, many banks still require at least one in-person visit with your parent to verify your identity. Call ahead to ask what the bank accepts and whether you can do it all online or need to come in.

Online banks vs. traditional banks

Online banks like Ally, Charles Schwab, and Fidelity often have no monthly fees, no minimum balance, and higher interest rates on savings. They also tend to have fewer age restrictions—some let you open an account at 13 with parental consent. The catch is that you cannot deposit cash at a branch (because there are no branches), so you have to use mobile check deposit or transfer money from another account. ATM access varies; some online banks partner with ATM networks, others charge fees.

Traditional banks like Chase, Bank of America, and Wells Fargo have physical branches where you can deposit cash and talk to someone in person. They usually charge monthly fees unless you meet a minimum balance or set up direct deposit. Many have teen accounts with lower fees. The choice depends on whether you need to deposit cash regularly and whether you want to talk to someone at a branch.

What happens when you turn 18

When you turn 18, you become a legal adult and can open your own account without a parent's signature. If you have a joint account, your parent can stay on it, or you can ask the bank to remove them. If you have a teen account, it usually converts to a regular adult account automatically. If you have a custodial account, it transfers to you at the age set by your state (usually 18 or 21).

You do not have to close your account or move your money. Many people keep the same account they opened as a teenager. However, this is a good time to review the account—check the fees, interest rate, and features to make sure it still makes sense for you. If your parent is still on the account and you want privacy, ask the bank how to remove them.

Frequently Asked Questions

Can I open a bank account without my parent knowing?

No. Banks require a parent or guardian to sign off on any account for someone under 18. You cannot open an account in secret. However, once you turn 18, you can open accounts on your own without telling anyone.

What if my parent won't take me to the bank?

Some online banks let you open an account with a parent's digital signature, so you do not have to visit a branch together. Call the bank and ask if they offer remote account opening. If not, ask a trusted adult—a grandparent, aunt, or uncle—whether they can help you and your parent set up an account.

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

Yes, most banks require a Social Security number. If you do not have one, you can request one from the Social Security Administration. The process takes a few weeks. Some banks may accept an ITIN (Individual Taxpayer Identification Number) if you do not have a Social Security number yet.

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

Yes. Savings accounts work the same way—you need a parent to co-sign or co-own. Savings accounts usually earn interest on your balance, but you cannot use a debit card. If you want both, many banks let you open a checking account and a savings account together.

What if I want to hide purchases from my parent?

A joint account or teen account will not give you that privacy—your parent can see all transactions. A custodial account also does not hide spending because your parent owns it. Once you turn 18, you can open your own account that only you can see. Until then, privacy is limited by design.