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

How old do you have to be to open a bank account? It's a question many parents, and teens entering their working years, ask themselves. While most banks require you to be 18 to open an account independently, some offer options for younger teens with a parent or guardian.

At Citizens, teens as young as 14 can open a student checking account with a joint account holder. It's a great way to introduce real-world money management while giving parents visibility and a sense of security. Whether your teen just landed their first job or is ready to take more ownership of their finances, this guide will help you decide if now is the right time—and how to choose the best account for their needs.

Is your teen ready for a checking account?

Deciding when to open a bank account for your teen isn't just about age, it's about readiness. Even if your teen is eligible to open a student checking account with your help, they may not be ready to manage their own money just yet. You know your child best, and their financial maturity, habits, and interest level should guide your decision.

Here are a few things to consider:

• Do they have income? If your teen has a part-time job or earns money through babysitting, lawn care, or other gigs, a checking account gives them a secure place to deposit their earnings and start managing their own money.
• Are they ready to handle responsibility? A checking account can help teens learn to budget and track spending but only if they're ready to take ownership. Citizens Student Checking accounts^† help support this learning curve with no overdraft fees and easy-to-use digital tools.
• Are they showing interest? If your teen is asking about opening an account, even if they don't have a job yet, it may be a sign they're ready to start learning. Their curiosity is a great opportunity to introduce financial basics in a hands-on way.

Opening a student checking account can be a powerful step toward independence. With the right support and the right account, your teen can build confidence and financial skills that last a lifetime.

Benefits of opening a checking account with your teen

A checking account isn't just a place to store money, it's a tool for learning, growth, and building trust. Opening a student checking account gives your teen a safe space to develop practical money skills with your guidance along the way.

Benefits for Parents:

• Stay in the loop: Monitor account activity to help guide smart spending and catch anything unusual early.
• Transfer funds easily: Whether it's for emergencies, allowances, or college expenses, transferring funds is quick and easy – as long as it's jointly owned.
• Model good habits: Use the account as a teaching tool to demonstrate budgeting, saving and responsible spending.

Benefits for Teens:

• Learn by doing: Use a debit card, mobile app*, and digital wallet to manage money in real time.
• Build financial confidence: Understand how to track balances, set up direct deposit, and avoid overspending.
• Use smart tools: With features like the Citizens Savings Tracker®¹, teens can set goals and watch their savings grow.

What to consider when opening a checking account for your teen

When choosing a checking account for your teen, look for features that support learning, flexibility, and low risk. As you explore options, it's important to choose an account that supports your teen's learning while offering flexibility, transparency, and low risk.

Here are a few key features to look for:

• Minimum balance requirements: Some accounts require a minimum balance to avoid fees or keep the account open. Look for accounts with low or no minimums so your teen can focus on learning, not maintaining a balance.
• Monthly maintenance fees^†: Fees can eat into your teen's savings quickly. Citizens Student Checking accounts have no monthly maintenance fees for account holders under 25, helping them keep more of what they earn.
• Direct deposit options: If your teen has a job, direct deposit is a must. Some accounts even offer early access to paychecks when direct deposit is set up to help teens manage cash flow more effectively.
• Mobile banking and budgeting tools: A mobile app* is essential for today's teens. Look for features like balance alerts, transaction tracking, and built-in budgeting tools. Citizens offers tools and resources to help teens set and reach savings goals.
• Overdraft protection^†: Overdraft fees can be discouraging for new account holders. Citizens Student Checking accounts come with no overdraft fees, helping your teen learn from mistakes without costly penalties.

Choosing the right account sets the tone for your teen's financial journey. With the right tools and support, they'll be better equipped to manage money confidently and responsibly.

Teen savings accounts

Pairing a savings account with a student checking account helps teens build strong financial habits from the start. While teens must be 18 or older to open a savings account on their own, opening one together can:

• Builds saving habits: Whether it's birthday money, part-time job income, or allowance, a savings account gives teens a place to set money aside for future goals.
• Supports goal setting: Help your teen save for something meaningful, like a new phone, a car, or college expenses. Citizens' Savings Tracker®¹ makes it easy to visualize progress.
• Teaches how interest works: Watching their savings grow can help teens understand the value of compound interest and long-term planning.
• Makes transfers easy: When paired with a Citizens Student Checking account^†, transferring money between accounts is seamless, especially with automatic transfers set up through the mobile app*.

When both accounts are opened at the same bank, it simplifies money management and reinforces the connection between spending and saving. It's a practical way to help your teen build confidence and financial independence—one deposit at a time.

Ready to help your teen take the first step?

Opening a student checking account is more than a financial milestone, it's a meaningful way to support your teen's independence and confidence. With a Citizens Student Checking account^†, you both get the tools and support to make that journey a success: no overdraft fees, no monthly maintenance fees, and access to helpful features like the Citizens mobile app* and Savings Tracker®¹.

Whether your teen is earning their first paycheck or just starting to explore money management, we're here to help every step of the way.