Yes, but the bank sets the rules, not the law

A teenager can open a bank account in most cases, but there is no federal age at which it becomes automatic. Banks and credit unions each decide their own minimum age, and that age varies. Some institutions let teenagers as young as 13 open an account with a parent or guardian present. Others require 16 or 18. The account type matters too — a basic savings account is usually easier to open than a checking account with a debit card.

The key difference from an adult account is that a parent or guardian must be involved. In nearly every case, they will either co-own the account (meaning both names are on it and both can access the money) or be listed as a custodian (meaning they have legal authority but the account belongs to the teenager). The bank will ask for the parent's ID, Social Security number, and signature before the account opens.

What the teenager needs to bring is simpler: a Social Security number and a form of ID. A school ID, state ID, or passport all work. Some banks will accept a birth certificate if that is all the teenager has. The parent will need their own ID and proof of address — usually a recent utility bill or bank statement.

Key Takeaways

  • Banks set their own minimum age for teen accounts, which ranges from 13 to 18 depending on the institution.
  • A parent or guardian must be present and involved, either as a co-owner or custodian of the account.
  • The teenager needs a Social Security number and some form of ID; the parent needs their ID and proof of address.
  • Checking accounts with debit cards often have higher age minimums than basic savings accounts.
  • Some banks offer teen-specific accounts with features like spending limits or parental controls built in.

What different banks require

Large national banks like Chase, Bank of America, and Wells Fargo typically allow teenagers to open accounts starting at age 13, but they require a parent to open the account in person at a branch. Online banks like Ally or Marcus generally do not offer teen accounts at all — they require account holders to be 18. Credit unions often have lower age minimums than banks and may be more flexible about documentation, but you have to be a member first, which usually means a parent has to join.

Some banks market accounts specifically for teenagers. Chase offers a "Chase First Banking" account starting at age 6 (with a parent), which includes a debit card at age 13. Bank of America has "BankAmeriAd for Students," available from age 13. These accounts often come with parental controls — the parent can set daily spending limits, block certain types of transactions, or receive alerts when the teenager uses the card. The trade-off is that these accounts sometimes charge monthly fees if you do not maintain a minimum balance, though many waive fees for students.

Credit unions like Navy Federal, Connexus, and Alliant often have the most flexible teen policies. Some allow accounts from age 13 without requiring the parent to be a co-owner, only a custodian. But you have to meet the credit union's membership rules first — that might mean being a military family, working for a specific employer, or living in a certain area. If you already have a parent with an account at a credit union, opening a teen account is usually faster.

How to open an account in person

The teenager and parent go to a branch together with the required documents. The process usually takes 15 to 30 minutes. The bank will verify both IDs, confirm the Social Security numbers, and ask the parent to sign the account agreement. Some banks will issue a debit card on the spot; others mail it within 5 to 10 business days. The account is usually active when ready, so the teenager can start using it the same day if a card is issued in branch.

Bring originals, not copies. Banks will not accept photocopies of ID or Social Security cards. If the teenager does not have a state ID or passport, bring a birth certificate and a school ID together — most banks will accept that combination. The parent should bring a recent utility bill, mortgage statement, or bank statement as proof of address; a driver's license alone is not enough.

Some banks let you start the process online and finish it in branch. You fill out the process on the bank's website, then you and the parent go to a branch to verify ID and sign. This can save time if the branch is busy, because you skip the initial paperwork step. Call the branch ahead to ask if they offer this option.

What happens if the teenager is 16 or 17

At 16 or 17, the teenager has more options. Some banks allow teenagers this age to open accounts without a parent present, though a parent still has to authorize it. A few banks let 17-year-olds open accounts entirely on their own, but this is rare. The teenager should call the bank's customer service line or visit a branch to ask what their specific age policy is, because it varies even within the same bank depending on the state.

Teenagers 16 and older can also open accounts at some online banks if they have a parent's permission and the parent verifies their identity through the app. The process is faster than going to a branch, but the parent still has to be involved. The teenager will not be able to access the account on their own until they turn 18 in most cases.

Co-owner versus custodian accounts

A co-owner account means both the teenager and parent own the account equally. Both names appear on the account, both can withdraw money, and both can close the account. If the parent dies, the account automatically passes to the teenager. If the teenager turns 18, the parent can stay on the account or remove themselves. This structure is simpler but gives the parent less control — they cannot prevent the teenager from withdrawing all the money once they turn 18.

A custodial account means the parent is the legal custodian and the teenager is the beneficiary. The parent has full control until the teenager reaches the age of majority (18 in most states, 21 in a few). At that age, the account automatically transfers to the teenager's full control, and the parent's authority ends. The parent's name may not appear on the account at all, depending on the bank. This structure gives the parent more control while the teenager is young, but the teenager loses access to the account during the transition to adulthood if the parent does not cooperate.

Ask the bank which type they are setting up before you sign. Some banks default to one or the other, and you may be able to choose. The difference matters if the teenager is close to 18 or if the parent relationship is complicated.

Debit cards, spending limits, and parental controls

Most teen accounts come with a debit card, but not all. A basic savings account might not include a card at all — the teenager can only access money through an ATM or by going to a branch. A checking account almost always includes a debit card. Ask the bank whether a card is included before you open the account, because some charge a fee for issuing one.

Teen-specific accounts often include parental controls. The parent can set a daily spending limit (for example, $50 per day), block online purchases, prevent ATM withdrawals, or require approval for transactions over a certain amount. Some banks send the parent a text or email alert every time the card is used. These controls are useful for teaching the teenager about money without giving them unlimited access, but they also mean the teenager cannot make a purchase without the parent's permission if the limit is set low.

Parental controls vary widely. Chase's teen account lets you set daily limits and block certain merchants. Bank of America's account lets you set limits and turn the card on or off when ready through the app. Credit union accounts may have fewer controls or none at all. If parental controls are important to you, ask the bank specifically what controls are available before you open the account.

Frequently Asked Questions

Can a teenager open a bank account without a parent?

Not at most banks. The teenager must have a parent or guardian present and involved. A few banks allow 17-year-olds to open accounts with parental permission but without the parent physically present, but this is uncommon. At 18, the teenager can open an account entirely on their own.

What if the teenager does not have a Social Security number?

Most banks require a Social Security number to open an account. If the teenager does not have one, you can explore for one at your local Social Security office — the process takes a few weeks. Some banks may accept an Individual Taxpayer Identification Number (ITIN) instead, but this is rare. Call the bank ahead to ask.

Can the teenager use the account to build credit?

No. A bank account does not build credit history. Credit is built through credit cards, loans, or other credit products. A teenager can open a credit-builder card or a secured credit card at 18, but a regular bank account will not help. The bank account is for saving and spending, not for credit.

What if the parent and teenager disagree about closing the account?

It depends on whether the account is a co-owner or custodial account. On a co-owner account, either person can close it. On a custodial account, the parent can close it while the teenager is under 18, but the teenager cannot. Once the teenager reaches 18, the account becomes theirs and the parent loses authority. If conflict is likely, discuss the account rules before opening it.

Are there fees for teen accounts?

Some teen accounts charge a monthly maintenance fee ($5 to $10 is common), but many waive the fee if the account holder is a student or maintains a minimum balance. Some accounts have no monthly fee at all. Ask the bank about all fees before opening the account, including fees for overdrafts, ATM use, or card replacement.