⭐ Our Top Pick
Acorns Early
Best kids money app for ages 6–18 · Debit card + investing in one app · Parent controls included
Open Free Account →Sponsored · WealthSprout may earn a commission if you sign up through our link, at no extra cost to you.
Opening an Account for Ages 9–13
At this age, a debit card becomes a real teaching tool — not a spending free-for-all, a tool. Your kid is ready to practice real spending decisions with real money, in real time, with you watching.
Look for a joint teen checking account (many banks offer these specifically for ages 8–17) or a debit card account like Greenlight, which comes with built-in parental spending controls. Greenlight lets you assign spending to specific categories — "restaurants: $15/week" — which forces actual decision-making, not just swiping.
The goal isn't protection from all mistakes. A $7 impulse buy they regret is worth more than a lecture from you about impulse buying. Check out our full breakdown of the best bank accounts for kids by age for more specific picks at this stage.
The Next Gen Personal Finance resource on teen checking accounts is also worth bookmarking — it's free and well-researched.
💸 Money Moves (Ages 9–13)
Our Money Moves program teaches your kid how to budget their account, understand bank statements, and set savings goals that actually stick. Built for the age when it all starts clicking.
Check Out Money Moves →Frequently Asked Questions
What age can a child open a bank account?
Most banks allow kids to be added to a joint or custodial account at any age — even as a newborn. The child can't be the sole account holder until they're 18, but a parent or guardian co-signs and manages the account until then. Some banks, like Capital One Kids Savings, market specifically to kids as young as 0.
What documents do I need to open a kids bank account?
You'll typically need your government-issued ID, your child's Social Security Number, their birth certificate or passport for identity verification, and a small opening deposit — sometimes as low as $0 or $25. Requirements vary by bank, so check the specific institution's website before you go in.
What's the difference between a joint account and a custodial account for kids?
A joint account means both you and your child are co-owners with equal legal rights to the money. A custodial account (UTMA or UGMA) is managed by you as the custodian until your child reaches the age of majority — typically 18 or 21 depending on your state — at which point full control transfers to them automatically. For everyday savings and spending practice, most parents use a joint account.
Can I open a kids bank account online?
Yes — many banks and credit unions let you open a joint kids savings account entirely online in about 10 minutes. Ally Bank, Capital One, and many local credit unions all offer online applications. You'll upload ID documents digitally and fund the account with a transfer from your existing bank.
Are kids bank accounts FDIC insured?
Yes. Any account at an FDIC-insured bank — including kids savings and checking accounts — is protected up to $250,000 per depositor, per institution. Credit unions have equivalent protection through the NCUA. Your kid's money is just as safe as yours.
What's the best bank account for kids?
It depends on your goals. For younger kids (ages 5–8) focused on savings habits, look for no monthly fees, no minimum balance, and a competitive APY — Capital One Kids Savings and Alliant Credit Union are both strong picks. For older kids (ages 9–13) who need a debit card and spending practice, consider Greenlight or a joint teen checking account at your existing bank.
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