To open a bank account at 16, you’ll need a parent or legal guardian to open it jointly with you, government-issued ID for both of you, Social Security numbers (or an accepted substitute), and a small opening deposit. Most banks offer teen or student checking accounts built for exactly this setup, and you can usually finish the paperwork in one branch visit or a single online session.
Why a Parent or Guardian Has to Be on the Account
Under a legal principle called the infancy doctrine, people under 18 can void most contracts they sign. A bank’s deposit agreement is a contract, so banks protect themselves by requiring an adult joint owner the bank can hold responsible. That co-owner is on the hook for any negative balance or fees the account racks up until you reach the age of majority, which is 18 in most states.
The account itself won’t show up on either of your credit reports. Checking and savings accounts aren’t reported to the credit bureaus. If the account closes with an unpaid negative balance, though, that can be reported to screening services like ChexSystems or Early Warning Services, and banks check those when anyone applies for a new account later.
What You and Your Co-Owner Need to Bring
Federal law requires banks to collect and verify identifying information before opening any account, specifically under Section 326 of the USA PATRIOT Act. The bank needs the name, date of birth, address, and an identification number for both of you.1Federal Financial Institutions Examination Council. Customer Identification Program – FFIEC BSA/AML Examination Manual
For you, a government-issued photo ID is easiest: a learner’s permit, driver’s license, or passport. If you don’t have a photo ID, many banks will accept a birth certificate paired with a school ID. Your co-owner needs a government-issued photo ID of their own plus proof of their current address, such as a recent utility bill or bank statement.
Both of you will need Social Security numbers. The bank uses them to report any interest the account earns to the IRS and to screen for past banking problems through ChexSystems or a similar service.2IRS. Instructions for Forms 1099-INT and 1099-OID3Consumer Financial Protection Bureau. Helping Consumers Who Have Been Denied Checking Accounts
If You Don’t Have a Social Security Number
An SSN isn’t the only option. Banks and credit unions also accept an Individual Taxpayer Identification Number (ITIN). Some will accept a passport number with the country of issuance, an alien identification card number, or another government-issued ID number.4Consumer Financial Protection Bureau. Can I Get a Checking Account Without a Social Security Number or Drivers License Policies vary, so call ahead if this applies to you.
Opening the Account In Person or Online
Most banks list teen or student checking accounts on their website. On the application, you’ll be listed as the primary account holder and the adult as the joint owner or custodian. Both of you provide the identifying information above and sign the bank’s deposit agreement.
At a Branch
Both of you need to be there. You’ll each sign a signature card the bank keeps on file. Bring your identification and be ready to make an initial deposit. The required amount is often modest for teen accounts, sometimes as low as $25.
Online
Many banks let you do the whole thing online. The application walks you through identity verification, and you fund the account by entering the routing and account numbers from another bank account to initiate a transfer. Some banks require the adult co-owner to already have an account with the institution before you can apply online. Processing usually takes one to three business days.
Once the account is open, hold on to the account number, routing number, and fee schedule. You’ll need the account and routing numbers to set up direct deposit from an employer.
Fees and the Overdraft Choice You’ll Make at Signup
Teen checking accounts at many banks have no monthly maintenance fee, or waive it for account holders under a certain age (often 25). Read the fee schedule anyway. Some accounts charge for paper statements, out-of-network ATM use, or falling below a minimum balance.
You’ll also be asked whether you want to opt in to overdraft coverage for debit card purchases and ATM withdrawals. Under federal Regulation E, a bank cannot charge overdraft fees on one-time debit card purchases or ATM withdrawals unless you’ve affirmatively opted in.5Consumer Financial Protection Bureau. Regulation E – 1005.17 Requirements for Overdraft Services Without opting in, those transactions get declined if your balance is too low. No fee, no overdraft. For a first account, declining is usually the safer choice. Overdraft fees at many banks have run around $35 per transaction, and remember that your co-owner is responsible for any negative balance.6FDIC. Overdraft and Account Fees
Your Debit Card, Limits, and Parental Controls
After approval, the bank mails a debit card, usually within a week or two. You activate it by calling the number on the sticker or using it at an ATM with the temporary PIN. Once active, it works for in-store purchases, online shopping, and ATM withdrawals.
Teen accounts often come with lower daily transaction caps than standard adult accounts. Expect daily limits on ATM withdrawals and debit card purchases, commonly a few hundred dollars for each. You can ask the bank what your specific limits are.
You can register for online banking or the bank’s mobile app using your account number, create a login, and turn on two-factor authentication. From there you can check your balance, review transactions, and deposit checks by photo.
Because your co-owner shares the account, they can usually see transactions through their own login. Many teen accounts also offer specific parental controls: daily spending limits, the ability to lock and unlock the debit card instantly, and real-time purchase alerts.
What Changes When You Turn 18
At the age of majority, you gain the legal capacity to hold an account on your own, but the account won’t convert itself. You’ll typically need to visit a branch with a valid government-issued ID to remove the adult co-owner. Some banks notify you when you’re eligible; others wait for you to ask.
If you do nothing, the joint account keeps running as-is, and your co-owner stays legally tied to it, with access to transactions and responsibility for any negative balance. Turning 18 is also a reasonable time to compare checking accounts elsewhere, since you’re no longer limited to teen products.
If No Adult Can Co-Sign
A small but growing number of states allow emancipated minors or youth in foster care to open bank accounts without an adult co-owner. Requirements vary. Some states require a court order; others accept documentation of emancipation status. Check with banks in your state about what they’ll accept.
If no exception fits your situation, a prepaid debit card is one alternative. Prepaid cards aren’t bank accounts: they don’t earn interest, aren’t always FDIC-insured, and may carry reload fees. They do let you receive direct deposits and make electronic payments without a co-owner, which can bridge the gap until you turn 18 and can open a standard account on your own.