How to Open a Bank Account for a Minor (2026): Step by Step
To open a bank account for a minor, a parent opens a joint or custodial account, verifies both identities, and funds it. Here's the full step-by-step, online or in branch.
To open a bank account for a minor, a parent or guardian opens a joint or custodial account — a minor can't open one alone until 18. You choose the account type, verify your ID and the child's (name, date of birth, usually a Social Security number), and fund it. Fintech apps do this online in minutes; some banks need a branch visit.
Opening a bank account for a minor sounds bureaucratic, but it comes down to one rule and five steps. The rule: a minor can’t open an account alone, so you open it with them as co-owner. Everything else follows from that. Here’s the walkthrough — online or in branch — with the account options drawn from our best kids debit card and best teen debit card rankings.
How to open a bank account for a minor, step by step
1. Choose the account type. This decides the rest. A spending account with a debit card (a kids or teen checking account), a custodial savings/investment account for growth, or a fintech card like Greenlight or Step. Match it to whether you want spending, saving, or both.
2. Pick joint or custodial. A joint account is co-owned by you and the child — standard for everyday spending. A custodial account is parent-managed for the child’s benefit, transferring to them at adulthood — common for savings and investing.
3. Gather what you need. Your government ID (and existing relationship, for a bank), the child’s name, date of birth, and usually a Social Security number, plus a funding source.
4. Apply — online or in branch. Fintech apps (Greenlight, Step, Acorns Early) open online in minutes. Some banks allow online youth accounts; others require a branch visit (see banks that offer kids debit cards for who’s who).
5. Fund it and set controls. Link a bank account or card, make an initial transfer, and turn on spending limits and alerts before handing over the card.
Can you do it online?
Usually, yes — and this is the biggest time-saver. The fintech cards are online-only and fast; a virtual card often works before the plastic arrives. Traditional banks vary: some open youth accounts online, others (like Wells Fargo’s teen account) want the teen in a branch. If online-in-minutes matters to you, a fintech card is the surest route; if you want money held directly at a chartered bank, check that bank’s process first.
Joint vs custodial: the quick rule
- Spending now (allowance, a debit card) → joint account. Chase First Banking, Capital One MONEY, or a fintech card.
- Growing money for later (college, first car) → custodial account. A custodial investment account, or the pairing inside Acorns Early; newborns may also qualify for a Trump Account.
After it’s open
The account is the easy part; the habit is the point. Use alerts to talk about spending, tie allowance to chores where the card supports it, and revisit the account type as the child grows — a 7-year-old’s first card isn’t a 16-year-old’s checking account. Our guide on how to get a debit card for your child covers the spending-card setup in depth, and when to open a bank account for your child helps with the timing.
Frequently asked questions
- Can you open a bank account for a minor online?
- Often yes. Fintech kids and teen cards (Greenlight, Step, Acorns Early) open entirely online in minutes, with the physical card mailed after. Some traditional banks let you open a youth account online too, while others — Wells Fargo's teen account, for example — require the teen to visit a branch. Check the provider's process before you start.
- What do you need to open a bank account for a minor?
- Typically the parent's government ID and (for banks) an existing relationship, the child's basic details — name, date of birth, and usually a Social Security number — and a funding source like a linked bank account or debit card. Because the parent co-owns or sponsors the account, your identity anchors the application.
- What age can a minor have a bank account?
- A parent can open a custodial or joint account for a child at essentially any age, since the parent is co-owner. Debit-linked spending accounts usually start from 6-8; teen checking accounts from 13; some youth accounts from 8. A minor can't open a standalone account in their own name until 18 — before that it's always parent-linked.
- Should I open a custodial account or a joint account?
- A joint account is co-owned by parent and child and is typical for everyday spending and teen checking. A custodial account is managed by the parent for the child's benefit and is common for savings or investing, transferring to the child at adulthood. For a spending card, joint; for growing money long-term, custodial.