Can A Child Open A Checking Account?

You can open a bank account for your child at any age—even when they're a newborn, as long as they have a Social Security number. When your child is older, it's up to you to decide if they are mature enough to share some of the account responsibilities.

What age can a child open a checking account?

Checking accounts for minors: The minor must be at least 14 years old to open a joint checking account. You may want to consider Student Checking and Safe Debit. You can apply for either of these two accounts together online or in a branch.

Can you open a checking account for a minor?

Yes, minors can open a bank account. However, there are specific terms to be kept in mind when a minor applies for one. Opening a custodial account or joint account is one of the most popular ways to bring minors into banking.

Can I open a checking account for my 12 year old?

With the exception of legal emancipation, U.S. law prohibits children under age 18 from having sole ownership of deposit accounts, such as checking and savings accounts. However, most U.S. banks and credit unions allow children to hold deposit accounts together with a parent.

Can a minor open a checking account without a parent?

Since minors generally can't open bank accounts by themselves, you'll typically need to be a joint owner of the account, which may actually be a good thing. It'll give you the chance to compare banks and find features that are important to both of you.

Bank accounts for teens: Help yours manage a checking