Most banks let minors open accounts from birth, but the account type and who controls it depends on age
A minor can open a bank account at nearly any age, but what that account looks like and who has access to the money changes as the child gets older. Newborns can have accounts opened in their name through a parent or guardian. Teenagers can often open their own accounts around age 13 to 16, depending on the bank. By 18, a minor becomes a legal adult and can open and manage accounts without a parent's involvement.
The key difference is control. Until a child reaches the age of majority in their state (usually 18), a parent or guardian must be on the account or have legal authority over it. Once they turn 18, they can open accounts independently and make all decisions about the money themselves.
Key Takeaways
- Infants and young children can have bank accounts opened in their name by a parent or guardian, usually through a custodial or UTMA account.
- Most banks allow teenagers to open their own checking or savings accounts between ages 13 and 16, though a parent typically remains on the account as a co-owner or monitor.
- At age 18, a person can open and fully control their own bank account without parental involvement in most states.
- The specific age a bank allows independent account opening varies by institution, so checking directly with your bank is the fastest way to find out their policy.
Accounts for infants and young children
A parent or guardian can open a bank account for a child at any age, even a newborn. These accounts are typically set up as custodial accounts or under the Uniform Transfers to Minors Act (UTMA). The parent controls the account and all deposits until the child reaches the age of majority, which is 18 in most states.
Custodial accounts are common for savings accounts where money is set aside for the child's future — birthday gifts, inheritance, or college savings. The parent can withdraw money for the child's benefit, but the account legally belongs to the child. When the child turns 18 or 21 (depending on state law and the account type), control transfers to them automatically.
To open a custodial account, you will need the child's Social Security number, proof of the child's identity (birth certificate), and proof of your own identity. Most banks can set this up in person or online.
Teen accounts with parental co-ownership
Most banks allow teenagers to open checking or savings accounts starting at age 13, though some banks set the minimum at 14, 15, or 16. These accounts typically require a parent or guardian to be a co-owner or authorized signer. The teen can use a debit card and make deposits and withdrawals, but the parent retains full access and control.
Teen accounts are designed to teach money management while keeping parental oversight. Many banks offer versions with spending limits, transaction alerts sent to the parent, or restrictions on ATM withdrawals. Some banks call these "teen checking" or "youth accounts" and market them specifically for this age group.
To open a teen account, bring the teenager and a parent or guardian to the bank together, along with both of their IDs and the teen's Social Security number. Some banks allow online opening if the parent already has an account with them. Ask the bank whether the parent must remain on the account until the teen turns 18 or whether the teen can remove the parent earlier.
What changes at age 18
At 18, a person becomes a legal adult in all states and can open and manage bank accounts independently. They no longer need a parent's permission or co-signature. However, a parent can remain on the account if both parties agree — this is common when a parent wants to monitor spending or help manage money, and it is entirely voluntary on both sides.
If a teen wants to remove a parent from an account at 18, they can do so by visiting the bank and requesting it. The parent's name comes off, and the account becomes solely the young adult's responsibility. Some banks automatically convert teen accounts to standard adult accounts on the account holder's 18th birthday.
State variations in the age of majority
Most states set the age of majority at 18, meaning that is when a person has full legal rights to sign contracts, open accounts, and make financial decisions without parental consent. However, a few states have different rules for specific situations. For example, some states allow 17-year-olds to open certain accounts or sign certain documents.
The age of majority does not affect when a bank will let a minor open an account — that is the bank's own policy. But it does affect when a parent's involvement becomes optional rather than required. If you are unsure about your state's rules, contact your bank directly or check your state's government website.
How to find your bank's specific age policy
Because each bank sets its own minimum age for teen accounts, the fastest way to know what your bank offers is to ask them directly. Call the customer service number on the back of a debit card or visit a branch in person. Ask whether they offer teen accounts, what the minimum age is, whether a parent must be a co-owner, and what happens to the account when the teen turns 18.
If your current bank does not offer teen accounts at the age you need, other banks in your area may have different policies. Credit unions often have teen account options as well. Comparing a few institutions takes an hour and can save confusion later.
What you need to open an account for a minor
To open any account for or with a minor, bring:
- The minor's Social Security number
- Proof of the minor's identity (birth certificate, passport, or state ID)
- A parent or guardian's ID and proof of address
- Initial deposit (amount varies by bank; some have no minimum)
For a custodial account for an infant or young child, you typically only need the parent's ID and the child's birth certificate and Social Security number. For a teen account, both the teen and parent usually need to be present, though some banks allow the parent to open it alone if they already have an account there.
Online account opening is increasingly common, but many banks still require at least one in-person visit to verify identity for a minor's account. Ask whether your bank allows online opening or whether you need to visit a branch.
Frequently Asked Questions
Can a child open a bank account without a parent?
Before age 18, no — a parent or guardian must be involved because minors cannot sign legal contracts. At 18, a young adult can open an account entirely on their own. Some banks may allow a teen to open an account independently before 18, but this is rare and usually requires parental consent in writing.
What happens to a custodial account when the child turns 18?
Control of the account transfers to the young adult automatically. The parent no longer has access unless the young adult adds them back. The account itself does not close — it simply becomes a standard adult account in the young adult's name alone.
Can a parent remove money from a teen's account?
Yes, if the parent is a co-owner or authorized signer. The account legally belongs to the teen, but the parent can withdraw funds. Once the teen turns 18 and removes the parent from the account, the parent can no longer access it.
Do I need to open a special account for a minor, or can they use a regular adult account?
A minor cannot open a regular adult account alone. They need either a custodial account (for young children) or a teen account (for teenagers), both of which require parental involvement. At 18, they can switch to a standard adult account if they want.
What if my bank does not offer teen accounts?
Try another bank or credit union in your area — many have teen account options. Alternatively, you can open a custodial savings account and wait until the teen is 18 to open a checking account in their own name. Some parents also add a teenager as an authorized user on their own account as a temporary solution.