How to Open a Bank Account Under 18 (What You Need and Which Banks Allow It)
Most banks need you to be 18 to open an account alone, but teens can open one with a parent. Account types, documents to bring and how to avoid fees.
In this guide
You got your first paycheck, or birthday money that’s too much to keep in a drawer. Time for a bank account. The catch: in most places you can’t open one completely on your own until you’re 18.
That doesn’t mean you have to wait. Here’s how teens open a bank account, what you’ll need, and what to check before you sign.
Can you open a bank account under 18?
Yes, with an adult. The FDIC says the minimum age to open a bank account on your own is 18 in most of the United States. Under that age (or under 21 in some states), the FDIC explains you might need to open a joint account with a responsible adult.
The exact age rules depend on your state’s law and on the bank. Some banks have accounts made for teens, and some let older teens open a savings account with fewer requirements. The only way to know for sure is to ask the bank.
The types of accounts teens can get
| Type | How it works | Who controls the money |
|---|---|---|
| Joint account | You and a parent both own the account | Both of you. A parent can see and use it. |
| Teen checking | A joint account made for teens, usually with a debit card and app | You, with a parent who can see it |
| Custodial account | An adult manages money that legally belongs to you until adulthood | The adult, until you come of age |
| Savings account | For money you’re not spending, sometimes earns interest | Depends on the bank’s rules for minors |
For most teens, a teen checking account plus a savings account is the sweet spot: a debit card for everyday spending, and a separate place for money you’re saving.
Banks with teen accounts
A few big banks have accounts built for teens (checked on their sites in October 2026):
- Capital One MONEY Teen Checking: from age 6, joint with a parent, no fees and no minimum balance.
- Chase First Banking: ages 6 to 17, no monthly service fee, but a parent needs a qualifying Chase checking account. Chase also has a separate High School Checking account.
- Local credit unions often have youth accounts with low or no fees. If your family already belongs to one, start there.
Comparing debit card apps too? Read our debit cards for teens guide for Greenlight, Step and the free options.
What you need to open one
According to the FDIC’s GetBanked guide, banks verify your identity with information like:
- your Social Security number (or ITIN)
- your date of birth
- your address
Banks often ask to see an ID like a driver’s license, state ID card or passport. Lots of teens don’t have one yet. The FDIC’s tip: if you don’t have what they ask for, ask how else you can verify your identity. Your parent will usually need to bring their own ID too.
Bring: your Social Security card or number, any ID you have, your parent and their ID, and the money for your first deposit. The FDIC says first deposits typically range from $25 to $100, depending on the bank.
Step by step
- Pick a bank with a teen account and no monthly fee, ideally one with ATMs near you.
- Gather documents for you and your parent.
- Apply online or at a branch together.
- Make your first deposit.
- Sign the documents, including a signature card.
- Set up the app and your debit card, and turn on alerts.
Questions to ask the bank
- Is there a monthly fee? How do I avoid it?
- Is there a minimum balance?
- Are there overdraft fees? Can they be turned off?
- Which ATMs are free?
- Can my paycheck be deposited straight into it?
- What happens to the account when I turn 18?
- What can my parent see or do?
The FDIC notes that overdraft fees happen when you spend more than is in your account, and some banks offer accounts that don’t charge them. As a teen, that’s worth asking for.
Once it’s open
- Split your money. A simple rule: some to spend, some to save, every time you get paid.
- Check the app weekly. Spot weird charges early.
- Never share your PIN, password or card number, even with friends.
- Watch for scams. No real job pays you by asking you to send money back. See online jobs that aren’t scams.
Thinking further ahead? Our guide to building credit at 18 explains what changes when you turn 18.
