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

Like so many other things in life, learning through hands-on experience is the best way for kids to absorb new knowledge. By helping your child open their first bank account, you can help them start building a solid foundation of financial literacy for their future.

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 a bank account for someone under 18 years old.

How old do you have to be to open a bank account?

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..

Rules vary by bank. Some allow accounts for any age,, while others may require that children be at least 13 years old. Check with your bank to learn more about their age requirements. 

Greenlight is another option that works for kids of all ages, offering a debit card for kids, parental controls, and built-in money lessons.

Joint bank account basics

A joint bank account can be either a checking account or a savings account and is co-owned by a legal adult (often a parent) and child. The adult and the minor share account access.

Both account types may be insured to keep your child’s money safe. You can check if the financial institution you’re working with is either FDIC-insured if it's a bank or NCUA-insured if it’s a credit union.

Your child can use the account just like a normal bank account. They can get a debit card, make transfers and withdrawals, and access online banking. As the parent, you can monitor activity on the account, make deposits and withdrawals, and more.

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Open a bank account for a minor in 5 simple steps

To open a kid’s bank account, parents or legal guardians can take the following steps:

1. Decide on an account type

There are a few options when it comes to the type of account you want to open. The main options for joint accounts include:

• Checking account. Provides basic banking functionality, a debit card, and perhaps check-writing capabilities. Most checking accounts pay very little in interest, however.

• Savings account. Offers higher interest rates, measured in annual percentage yield (APY). Savings accounts don’t typically come with a debit card, however.

• Prepaid debit cards. Works like refillable gift cards. Parents can load money onto the card, which the child can use to make purchases. These cards aren’t true bank accounts, however.

• Money apps with debit cards. Kid-friendly mobile apps for money management provide a mobile banking experience and typically come with a debit card. The best money apps for kids (like Greenlight, the #1 family finance and safety app!) also include tools to help kids learn how to save, invest, and learn new money management skills.

2. Decide on a bank or financial institution

Next, think about where you want to open the account. Some parents might prefer to use their own existing bank for simplicity, while others might want to seek out another option that might be ideal for their kids. Here are some factors to consider:

• Physical branches. Do you want your child to have access to physical bank branches? These days, most banking activities can be handled online or through an ATM. However, some parents prefer their children to have a more traditional banking experience.

• Account options. Most banks and credit unions offer joint ownership accounts. However, the rules vary, as do the fees.

• Fees. Keep an eye on the costs of opening a joint account. Many banks have monthly service fees, as well as standard overdraft fees, ATM fees, etc.

• Kid-friendly features. Does the financial institution have features that are designed specifically for children or teens? Are there financial education resources? Is the banking app accessible for your child? Also, consider your child’s age. A teen checking account may have different features from an account designed for younger kids, for example.

3. Gather the required information and documents

Now it’s time to prepare the necessary information and documents to actually open an account. In most cases, this will include:

• Your name and your child’s name

• Your full address (and potentially proof of address, like a recent utility bill)

• Your date of birth and your child’s date of birth

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

• Your valid government-issued photo ID (driver’s license, passport, etc.)

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

4. Open a joint account

Next, simply follow the instructions to open the account. This can typically be done online, or in person, if you choose to use a traditional bank or credit union.

During the opening process, you will typically be required to make an opening deposit to fund the account. This will generally be a small amount, but it may be required at the time of account opening.

You should also keep an eye on minimum balance requirements. Some banks require that accounts maintain a minimum balance — $100, for example — at all times.

5. Activate the debit card and start using the account

Once the account is opened, the bank will mail you a debit card. This card might be in the child’s name, your name, or both.

When you receive the card, you’ll need to activate it. This is usually as simple as calling a number listed on the card or visiting a website or app to confirm that the card has arrived.

From there, you can use the set-up and basic functions of the child's account to show your child how to use their new tools. Set up online banking access to help your child monitor account balances and make transfers. Teach your child how a debit card works, how to make a purchase and use an ATM, and the importance of watching for fees and other unexpected charges. 

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, and set them up for financial success down the road.

It builds financial literacy

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? That sticks.

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 (and 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.

A bank account is a powerful tool for financial education

Opening your child’s first bank account can help them learn valuable financial skills with hands-on experience. A joint bank account from a traditional bank is a fine option, but for specialized guidance and kid-friendly tools, consider Greenlight instead.

Greenlight is a debit card and money app for kids and teens. When you sign up, both you and your child get your own account — all managed through the Greenlight app. As a parent, you can fund the account, set purchasing restrictions and other parental controls, monitor activity, and much more. And your child can learn how to earn, save, spend, and even invest money — all in one place! Get started with Greenlight today.

FAQs

Can a minor be a joint account holder?

Yes, that’s usually how it works. Since kids under 18 can’t open an account on their own, a parent or legal guardian opens 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 a bit 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. Just have your documents ready and follow the prompts. If you prefer the old-school route, you can always walk into a local branch.

Are there any fees associated with bank accounts for minors?

Some accounts for kids come with monthly fees, overdraft charges, or ATM fees, just like adult accounts. But many banks waive fees for minors, and money apps like Greenlight are upfront about their monthly pricing with no hidden costs. Always read the fine print so you’re not surprised later.

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. Either way, your child will be able to take full ownership of the account once they’re legally an adult.

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