A parent's guide to opening a bank account for a minor online

Kids must be at least 18 years old to open a bank account on their own, but they can get one sooner by opening a joint bank account with a parent or guardian. Learning by doing it themselves is the best way for kids to absorb new knowledge, and by helping your child open their first bank account, you help them start building a solid foundation of financial literacy for their future.

Traditional joint accounts aren't designed with kids in mind, but Greenlight is. Greenlight pairs a debit card built for kids and teens with real-time parental controls and hands-on money lessons, so your child learns while you stay in the loop.

Opening a bank account for a minor looks a bit different than it does for an adult. In this guide, we'll go over how to open one.

Open a bank account for a minor in 5 simple steps

A joint bank account can be either a checking or savings account, co-owned by a legal adult and a child, with both sharing account access. Here's how to open one:

1. Choose an account type

The main options for joint accounts include:

• Checking account: Provides a debit card and everyday banking, but typically pays low interest.

• Savings account: Offers higher interest rates (APY) but usually no debit card.

• Prepaid debit cards: Reloadable, gift-card-style spending, but not a true bank account. You can load money onto the card, which can be used to make purchases.

• Money apps with debit cards: Kid-friendly mobile apps for money management with a debit card. An app like Greenlight includes tools to save, invest, budget, and learn.

2. Pick a bank or financial institution

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• Branch access: Do you want in-person banking, or is online and ATM access enough? Most banking activities can be handled online or through an ATM.

• Account rules and age requirements: Most financial institutions offer joint accounts, but age minimums vary. Some allow any age, like Greenlight, while others require kids to be at least 13.

• Fees: Watch for monthly service fees, plus standard overdraft and ATM fees.

• Insurance: Check whether the institution is FDIC-insured (bank or financial app) or NCUA-insured (credit union) to keep your child's money protected.

• Kid-friendly features: Look for age-appropriate tools, financial education resources, and an app your child can understand and want to use.

3. Gather the required information

You'll typically need the following information and documents to open an account:

• Your names and dates of birth

• Your address (proof of address, like a recent utility bill, may be required)

• Your Social Security number (SSN) and your child's SSN or birth certificate

• Your valid government-issued photo ID (driver's license or passport)

Some financial institutions may have additional requirements, but the items on the list above will almost always be required.

4. Open a joint account

You can apply online or in person. Be ready for a small opening deposit and check whether the account has a minimum balance requirement (typically around $100).

5. Activate the debit card and start using the account

Once you receive the debit card in the mail, activate it by phone, website, or app.

Set up online access together and walk your child through how a debit card works, making purchases, using an ATM, and watching for fees.

Staying involved after the account is open

Opening the account is the first step, but what happens next matters just as much. These are the steps that build a strong financial foundation.

Keep an eye on activity

• Utilize parental features: Take advantage of alerts or parental controls, like those offered by Greenlight, if your bank or app offers them.

• Encourage your child to explore: Your child can use the account features, such as the debit card, transfers, withdrawals, and online banking, while you keep visibility into deposits, withdrawals, and overall activity.

• Check in on balances and transactions regularly: A quick weekly glance is often enough to catch questions or concerns before they become bigger issues.

Turn everyday moments into lessons

Tie deposits to allowance or chores, and talk through purchases together, such as why they chose to spend or save, and what it means for a goal they're working toward. These small conversations do more for financial literacy than any one-time lecture.

Let the account grow with your child

As your child gets older, expect to loosen the reins a bit. Consider fewer restrictions, more independence with spending decisions, and eventually a move toward a solo account or teen-specific features. Treat this as a gradual handoff, not a one-time decision.

Why open a bank account for a minor?

Opening a bank account for your child is a way to teach real-world money skills, build confidence, add safety and convenience, and set them up for financial success down the road.

It's safer than cash

Whether your child is tucking away allowance or saving up for something big, a bank account keeps their money protected. If they lose a wallet or misplace a few bills, that money's gone. A digital account adds a layer of security.

It makes life easier

Want to send your teen lunch money or pay them for chores? With a bank account, especially with money management apps like Greenlight, you can transfer money quickly and track everything in one place.

It helps prepare them for adulthood

Managing a bank account now makes things like paying bills, building credit, and saving for the future feel less overwhelming later. It's one of the simplest ways to give your child a head start.

It builds financial intelligence

Kids learn best by doing, and a bank account gives them hands-on experience with saving, spending, and tracking their money. It's one thing to talk about budgeting, but seeing that balance go up and down sticks.

Make money management a family affair with Greenlight

Whichever account you choose, opening your child's first one is a big step toward lifelong money confidence. If you want banking, oversight, and hands-on lessons in one place, Greenlight was built for exactly that.

Greenlight is a debit card and an all-in-one money app for kids and teens. When you sign up, you and your child get your own account managed through the Greenlight app. As a parent, you can fund the account, set purchasing restrictions and other parental controls, and monitor activity. Your child can learn how to earn, save, spend, and even invest money with parental oversight, all in one place.

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FAQs

Can a minor be a joint account holder?

Yes, since kids under 18 can't open an account on their own, a parent or legal guardian would open it as a joint account. Both of your names are on it, and you both have access.

What documents do I need to open a bank account for my child?

You'll typically need your child's Social Security number or birth certificate, your own government-issued ID (like a driver's license), and proof of address (something like a utility bill). Some banks might ask for more, but that's the basic list.

Can I open a bank account for my minor child completely online?

In many cases, yes. A lot of banks and kid-friendly money apps let you open an account from your phone or computer. Have your documents ready and follow the prompts.

Are there any fees associated with bank accounts for minors?

Some accounts for kids come with monthly fees, overdraft charges, or ATM fees, but many waive fees for minors.

What happens to the bank account when my child turns 18?

That depends on the bank. Some accounts automatically convert to standard adult accounts, while others may require a few updates to the paperwork.

**Greenlight is a financial technology company, not a bank. The Greenlight app facilitates banking services through Community Federal Savings Bank (CFSB), Member FDIC.