Yes, but with a parent or guardian involved

A person under 18 can open a bank account, but not alone. Every bank requires a parent or guardian to co-own the account until the minor reaches the age of majority — usually 18, though some states set it at 19 or 21. This means the adult's name appears on the account alongside the teen's, and the adult has full access to the money and account activity.

The reason banks do this is legal: minors cannot sign binding contracts, and a bank account is a contract. A parent or guardian signing the paperwork makes the account legally valid. This protects both the bank and the young person.

Different banks call these accounts different things — some say "teen account," others say "minor account" or "youth account" — but the structure is the same. The teen can use a debit card, make deposits, and withdraw money, but the parent retains control and visibility.

Key Takeaways

  • A parent or guardian must open the account with the minor and remain a co-owner until the minor reaches the age of majority in their state.
  • The teen can use a debit card and access the account, but the parent can see all transactions and has equal control over the money.
  • Most banks require the minor to be at least 13 years old, though some accept younger children if a parent opens a custodial account.
  • You will need a government-issued ID for the parent, a Social Security number for the teen, and proof of address for at least one of you.
  • Some banks offer accounts designed for teens with features like spending limits or parental alerts, while others use a standard joint account.

What documents you need to bring

Both the parent and the teen need to be present at the bank, or the bank may allow the parent to open the account online if the teen is not required to sign. Bring a government-issued photo ID for the parent — a driver's license or passport. Bring the teen's Social Security number (you may have the card, or you can provide the number from memory if the parent can verify it). Bring proof of address for at least one of you — a recent utility bill, lease, or mortgage statement.

Some banks also ask for a second form of ID or proof of address. Call the bank before you go in and ask what they specifically need. This saves a trip back home.

If the teen does not yet have a Social Security number, the parent can request one from the Social Security Administration before opening the account. This takes a few weeks, so plan ahead if you are opening an account for a newborn or very young child.

Age requirements vary by bank

Most major banks allow minors as young as 13 to open an account with a parent. Some accept younger children — as young as birth — through a custodial account, which is a legal structure that lets a parent manage money on behalf of a child until the child reaches adulthood. Other banks set the minimum age at 16 or 18.

Credit unions often have different rules than national banks. Some credit unions allow younger minors, while others have higher age minimums. Call ahead or check the bank's website to confirm the age requirement before you visit.

Once the teen reaches the age of majority in their state, the account automatically converts to a single-owner account in the teen's name, or the parent can remove themselves. The process varies by bank — some do this automatically, others require a visit or a phone call to make it official.

The difference between joint accounts and custodial accounts

A joint account is the most common structure for a teen. Both the parent and the teen own the account equally. Both can deposit and withdraw money. Both names appear on the debit card (or the teen gets their own card). The parent can see all transactions. When the teen turns 18, the parent can stay on the account or remove themselves, depending on what the bank allows.

A custodial account is a legal arrangement where the parent holds the money in trust for the child. The parent has full control; the child's name may not appear on the account at all, or appears as a beneficiary. Custodial accounts are more common for very young children or when a parent wants to set aside money for a specific purpose, like education. When the child reaches the age of majority (usually 18 or 21, depending on state law), the account transfers entirely to the child, and the parent loses access.

For a typical teen saving money or learning to manage a debit card, a joint account is simpler and more common. Ask the bank which structure they offer for the teen's age.

What happens to the account when the teen turns 18

The exact process depends on the bank's policy. Some banks automatically convert a joint teen account to a single-owner account on the teen's 18th birthday. Others require the parent and teen to visit the bank or call to make the change official. A few banks allow the parent to stay on the account indefinitely if both parties agree.

If the parent wants to remove themselves from the account, they can usually do so by visiting the bank or calling. If the teen wants the parent to stay on (for example, if the teen is still in school and wants parental oversight), the parent can remain. This is a conversation to have with the teen before they turn 18, so both of you know what to expect.

Some banks charge a fee to convert or modify the account structure. Ask about this when you open the account, so there are no surprises later.

Debit cards and spending limits

Most teen accounts come with a debit card in the teen's name. The teen can use it to buy things, withdraw cash, and check their balance. The parent can usually see all transactions online or through the bank's app.

Some banks offer spending limits or parental controls — for example, the parent can set a daily withdrawal limit or block certain types of transactions. Not all banks offer these features, so ask when you open the account if this matters to you. If the bank does not offer controls, the parent can monitor the account regularly and talk to the teen about spending.

The debit card is not a credit card. The teen is spending money that is already in the account, not borrowing. This makes it a good tool for learning to manage money without the risk of debt.

Where to open an account

You can open a teen account at any bank or credit union. National banks like Chase, Bank of America, and Wells Fargo all offer teen accounts. Local and regional banks often do too. Credit unions in your area may have different rules and sometimes lower fees.

You can open an account in person at a branch, or some banks allow you to start online and finish in the branch. A few banks allow the parent to open the account entirely online, though this is less common for minors. Call the bank or check their website to see what options they offer.

Compare a few banks before you decide. Look at whether they charge monthly fees, what the minimum balance is (if any), whether they offer spending limits, and whether they have branches or ATMs near you. A bank that is convenient to visit matters more for a teen than for an adult, because the teen may need to deposit checks or ask questions in person.

Frequently Asked Questions

Can a teen open an account without a parent?

No. Every bank requires a parent or legal guardian to co-own the account and sign the paperwork. A teen cannot open an account alone, even at age 17.

What if the parent does not have a photo ID?

The bank will not open the account without a government-issued ID from the parent. If the parent does not have a driver's license or passport, they can get a state ID card from the Department of Motor Vehicles. This takes a few weeks, so plan ahead.

Can the teen use the account without the parent's permission?

Once the account is open, the teen can use the debit card and withdraw money without asking the parent each time. However, the parent can see all transactions and can close the account or freeze it if needed. The parent retains legal control.

What if the parent and teen disagree about money in the account?

Because the parent is a co-owner, they have the legal right to withdraw money or close the account. This is why it is important to discuss expectations about the account before opening it — what the money is for, whether the teen can spend it freely, and what happens if the parent needs to access it.

Does opening a teen account affect the teen's credit score?

No. A debit account does not build credit because the teen is not borrowing money. Credit scores are based on credit history — loans, credit cards, and how you pay them back. A debit account is a good first step toward financial responsibility, but it will not appear on a credit report.