What You Need to Open an Account for a Child

A minor cannot open a checking account alone—a parent or legal guardian must be present and sign the paperwork. Most banks require the adult to be a joint owner on the account, which means both names appear on the checks and debit card. Some banks let the adult set restrictions so the child cannot overdraft or spend beyond a daily limit.

You will need to bring the child's Social Security number, proof of identity for both the adult and child, and proof of address. A birth certificate or school ID works for the child. The adult typically needs a driver's license or passport. For proof of address, bring a recent utility bill, lease, or bank statement in the adult's name.

The minimum deposit varies by bank and account type—some require $25, others $100, and some have no minimum at all. Call ahead or check the bank's website to confirm what they need before you go in. Many banks now let you open the account online, though you may still need to visit a branch to add the minor's name.

Key Takeaways

  • A parent or legal guardian must be present and become a joint account owner; minors cannot open accounts on their own.
  • Bring the child's Social Security number, birth certificate or school ID, and the adult's driver's license or passport.
  • Different banks have different minimum deposits, ranging from zero to $100, so compare before you choose.
  • Some banks let you start online, but you may need to visit a branch to complete the process with both people present.
  • Joint accounts let the adult set spending limits and overdraft protection, giving the child control while you keep oversight.

Where to Open the Account

You have three main routes: a traditional bank branch, an online bank, or a credit union. Traditional banks like Chase, Bank of America, and Wells Fargo have branches in most towns and let you open accounts in person. Online banks like Ally and Charles Schwab often have lower fees and no minimum deposits, but you open the account entirely online and receive a debit card by mail.

Credit unions are member-owned and often have lower fees than big banks. You must live or work in their service area or have a family member who is already a member. Many credit unions have no minimum deposit and offer youth accounts with built-in learning tools.

If you already bank somewhere, start there—the process is usually faster because the adult already has an account and the bank has your information on file. If you are switching banks, compare fees, minimum deposits, and whether the bank offers parental controls or spending limits before you decide.

What Happens During the Account Opening

When you arrive at the branch or complete the online form, the bank will ask for the documents listed above and will verify both the adult's and child's identities. The adult will sign the account agreement, which explains the rules for the account, overdraft policies, and monthly fees. The child may be asked to sign as well, depending on the bank's policy.

The bank will run a background check on the adult through ChexSystems, a database that tracks banking history. This is routine and does not affect credit scores. If the adult has a history of unpaid overdrafts or fraud at another bank, the account may be denied.

Once approved, the bank will issue a debit card in both names or sometimes in the child's name alone. The card usually arrives by mail within 5 to 10 business days. The adult can set up online banking and mobile app access right away, even before the card arrives, so the child can start using the account to receive direct deposits or transfers.

Setting Limits and Controls

Most banks let the adult set daily spending limits on the debit card—for example, $50 per day or $200 per week. Some banks also let you turn the card on and off from the mobile app, which is useful if the card is lost or if you want to prevent spending at certain times. Check whether the bank allows you to set these controls before you open the account.

Overdraft protection is another control to consider. If you turn it on, the bank will cover purchases that exceed the account balance, but you will pay a fee—usually $25 to $35 per overdraft. Many parents turn this off for minors so the card simply declines if there is not enough money, which teaches the child to track their balance.

Some banks offer "teen" or "youth" accounts that come with parental controls built in. These accounts often include financial education tools, spending alerts sent to the parent's phone, and the ability to set chores or goals that earn the child money. Examples include Greenlight, FamZoo, and accounts from banks like U.S. Bank and Ally.

Fees to Watch For

Monthly maintenance fees range from $0 to $15, depending on the bank. Some banks waive the fee if you keep a minimum balance or set up direct deposit. Others charge no fee at all. Overdraft fees, as mentioned, usually run $25 to $35 each time the account goes negative.

ATM fees apply if you withdraw cash from an ATM that is not owned by your bank. Using your bank's ATM network is free, but using another bank's machine often costs $2 to $3 per withdrawal. Some banks reimburse out-of-network ATM fees if you use their mobile app or keep a certain balance.

Debit card replacement fees are rare but can apply if the card is lost or damaged and you need a rush replacement. Most banks send a replacement card free within 5 to 10 business days. Ask about this fee when you open the account if it matters to you.

Teaching the Child to Use the Account

Once the account is open, show the child how to check the balance using the mobile app or online banking. Explain that every purchase and withdrawal reduces the balance, and that they cannot spend money they do not have unless overdraft protection is on. Have them practice looking at their transaction history so they understand where their money goes.

Set up a system for how money gets into the account—whether through allowance, chores, part-time work, or gifts from family. Direct deposit is the fastest and safest way to move money in. If the child earns money from a job, their employer can deposit their paycheck directly into the account.

Discuss what the debit card is for and what is off-limits. Some parents give the child full access; others restrict it to certain stores or online sites. The more you involve the child in decisions about their own money, the more they learn about budgeting and responsibility.

Moving to an Adult Account Later

When the child turns 18, they can convert the joint account to an account in their name alone, or they can open a new account at a different bank. The adult's name will be removed, and the child becomes the sole owner. Some banks do this automatically; others require a visit to the branch or a call to customer service.

If the child has built good banking habits—no overdrafts, regular deposits, no missed payments—they will have an easier time opening credit accounts later, like a credit card or car loan. The checking account history does not directly affect credit scores, but it shows lenders that the person can manage money responsibly.

Before the child turns 18, talk with them about what account they want to keep and whether they want to stay with your bank or switch. Some young adults prefer online banks for lower fees; others like having a branch nearby. This is a good time to review the account together and make sure it still fits their needs.

Frequently Asked Questions

Can a minor open a checking account without a parent?

No. Banks require a parent or legal guardian to be present and to sign the account agreement. The adult becomes a joint owner and has access to the account. Some banks allow the minor to become the sole owner at age 18 without opening a new account.

What if the parent does not have a valid ID?

The bank will not open the account without proof of the adult's identity. If the parent's driver's license is expired, bring a passport, state ID card, or military ID instead. If none of these are available, you will need to renew one before opening the account.

Can the child use the account without the parent's permission for each transaction?

Yes. Once the account is open and the child has a debit card, they can make purchases and withdrawals without asking the parent each time. The parent can set daily spending limits to control how much the child can spend, but the parent cannot approve or deny individual transactions.

What happens if the account goes negative?

If overdraft protection is on, the bank covers the negative balance and charges a fee, usually $25 to $35. If overdraft protection is off, the debit card simply declines and the purchase does not go through. The account stays at zero and no fee is charged.

Can I remove my name from the account later?

Yes, but the child must be old enough to own the account on their own—usually 18 or older. You can visit the bank and request to have your name removed. The child's name stays on the account and they become the sole owner. Some banks require the child to be present to sign new paperwork.