You can open a bank account at any age, but the rules depend on whether you're a minor or an adult
There is no legal minimum age to open a bank account in the United States. However, anyone under 18 cannot sign a binding contract on their own, which means a parent or guardian must co-sign or open a custodial account. Banks set their own policies, so some will let a child as young as 6 or 7 open an account with a parent present, while others require the child to be at least 13. Once you turn 18, you can open an account entirely on your own without anyone else's permission or involvement.
The type of account you open also affects the age requirement. A custodial account (also called a minor account or youth account) is opened by a parent or guardian in the child's name, and the adult controls it until the child reaches the age of majority—usually 18 or 21, depending on the state and the bank. A joint account is one where both the parent and child are listed as owners and can both access the money. Some banks offer accounts specifically designed for teenagers that require a parent to co-sign but give the teen more independence than a custodial account.
Key Takeaways
- There is no federal minimum age to open a bank account, but your bank may require you to be at least 6, 13, or 16 depending on the account type and the bank's policy.
- Anyone under 18 needs a parent or guardian to open or co-sign an account, because minors cannot enter into contracts.
- Custodial accounts are controlled by the parent until the child reaches 18 or 21, while joint accounts let both the parent and child access the money.
- At 18, you can open a bank account on your own without a parent's involvement, though some banks may still require additional documentation like a Social Security number or proof of address.
What happens when a minor opens an account with a parent
When you open an account as a minor, the parent or guardian must visit the bank in person with you and bring identification for both of you. The bank will ask for your Social Security number, proof of your identity (usually a birth certificate or school ID), and proof of the parent's identity (a driver's license or passport). Some banks also ask for proof of address, such as a utility bill or lease.
The parent will sign the account agreement and any required documents. Depending on the bank and account type, the parent may be listed as a co-owner, a custodian, or an authorized user. This distinction matters: a custodian has full control and the account transfers to you automatically at a certain age, while a co-owner can access the account at any time and may need to formally remove themselves. Ask the bank which role they are taking on before you sign.
Age requirements at major banks
Different banks have different minimum ages. Chase allows minors as young as 6 to open a Chase First Banking account with a parent, though the parent must be a Chase customer. Bank of America requires the child to be at least 8 for a BofA Youth account. Wells Fargo requires 13 for a student account. Credit unions often have lower minimums—many allow accounts for children under 10 if a parent co-signs.
Online banks and fintech companies that serve minors typically require the child to be at least 13, because they rely more heavily on digital verification and cannot easily confirm a young child's identity without in-person steps. If you are under 13 and want to open an account at an online bank, you may need to use a parent's account first and then transfer to your own account once you turn 13.
Call your bank or visit their website to find out their specific age requirement and what documents you need to bring. The policy may vary by branch, so it is worth confirming before you make a trip.
What changes when you turn 18
At 18, you become a legal adult and can open a bank account on your own without a parent's signature or permission. You will need to bring a government-issued photo ID (a driver's license, passport, or state ID), your Social Security number, and proof of address. Some banks also ask for a second form of ID or a phone number to verify.
If you already have a custodial account, the bank will not automatically transfer it to you at 18. You will need to contact the bank and ask them to convert it to an adult account in your name alone. The parent's name will be removed, and you will have sole control. If you have a joint account, you and your parent can decide together whether to keep it joint, convert it to your name alone, or close it and open a new account.
Accounts designed specifically for teenagers
Many banks offer accounts marketed to teenagers aged 13 to 17 that sit between a full custodial account and an adult account. These accounts usually require a parent to co-sign but give the teenager their own debit card, online access, and the ability to make transactions without the parent's approval on each one. Some include features like spending limits that the parent can set, transaction alerts, or financial education tools.
Teen accounts are useful if you want to learn how to manage money independently while still having a parent's oversight. However, they are not required—you can use a regular custodial account and simply ask your parent to give you the debit card and let you make your own decisions. The main difference is that a teen account is designed for this arrangement, so the features and limits reflect it.
What you need to bring to open an account
| Who is opening the account | Documents needed |
|---|---|
| Child under 18 with a parent | Child's birth certificate or school ID, parent's driver's license or passport, proof of address (utility bill or lease), child's Social Security number |
| Adult (18 or older) | Government-issued photo ID, Social Security number, proof of address |
| Teenager opening a teen account | Teen's birth certificate or school ID, parent's driver's license or passport, proof of address, teen's Social Security number |
Bring originals, not copies, unless the bank tells you otherwise. If you do not have a Social Security number, you can still open an account at some banks, but you will need to provide an Individual Taxpayer Identification Number (ITIN) or ask the bank what alternatives they accept. Call ahead if you are unsure whether you have all the documents the bank requires.
Frequently Asked Questions
Can a child open a bank account without a parent?
No, anyone under 18 cannot sign a legal contract, so a parent or guardian must be present and co-sign or open a custodial account. Some banks allow a teenager to open an account with a parent's permission over the phone, but the parent must still be involved.
What is the difference between a custodial account and a joint account?
In a custodial account, the parent controls the money until the child reaches 18 or 21, and the account automatically transfers to the child at that age. In a joint account, both the parent and child can access and withdraw money at any time, and both must agree to close it.
Do I need a Social Security number to open a bank account as a minor?
Most banks require a Social Security number, but some will accept an ITIN or other tax ID. Call your bank to ask what they accept if you do not have a Social Security number yet.
What happens to my account when I turn 18?
If you have a custodial account, you must contact the bank to convert it to an adult account in your name alone. The parent's name will be removed. If you have a joint account, you and your parent can decide whether to keep it joint or change it.
Can I open a bank account online if I am under 18?
Most online banks require you to be at least 13 and have a parent co-sign. Some may require you to open the account in person or have the parent open it first. Check the bank's website or call them to find out their process for minors.