By area/North America/United States/Bank accounts - Revision history

Luhanopi: added category

2026-05-14T17:29:08Z

added category

← Older revision		Revision as of 17:29, 14 May 2026
Line 47:		Line 47:

	== References ==		== References ==


			[[Category:United States]]

Luhanopi at 13:17, 10 May 2026

2026-05-10T13:17:03Z

← Older revision		Revision as of 13:17, 10 May 2026
Line 1:		Line 1:
	In the United States, most banks place restrictions on young people that prevent them from owning independent bank accounts without consent from a parent, guardian, or (occasionally) any adult willing to cosign. Additionally, banks nearly always grant the adult total control over the account.		In the [[By area/North America/United States\|United States]], most banks place restrictions on young people that prevent them from owning independent bank accounts without consent from a [[parent]], guardian, or (occasionally) [[any adult]] willing to cosign. Additionally, banks nearly always grant the adult total control over the account.

	== Bank Policy ==		== Bank Policy ==
Line 31:		Line 31:
	\|		\|
	\|}		\|}

	Banks that don't allow minors to open a bank account without parental consent or an adult cosigner:		Banks that don't allow minors to open a bank account without parental consent or an adult cosigner:
			* Capital One,
	Capital One, PNC Bank, US Bank, M&T Bank, TD Bank and Regions Bank		* PNC Bank,
			* US Bank,
			* M&T Bank,
			* TD Bank and Regions Bank

	Banks with unclear policies regarding minors:		Banks with unclear policies regarding minors:
			* Chase Bank - Page under construction, some citations and some vital information is not yet added.
	Chase Bank
	Page under construction, some citations and some vital information is not yet added.

	== Further Reading ==		== Further Reading ==

Luhanopi: Luhanopi moved page Bank Accounts to By area/North America/United States/Bank accounts: area-specific

2026-05-10T13:15:25Z

Luhanopi moved page Bank Accounts to By area/North America/United States/Bank accounts: area-specific

← Older revision		Revision as of 13:15, 10 May 2026
(No difference)

Underdevelopedprefrontalcortex: move citations to references section

2026-01-06T08:59:13Z

move citations to references section

← Older revision		Revision as of 08:59, 6 January 2026
Line 43:		Line 43:

	* [https://www.youthrights.org/how-banks-discriminate-against-youth-the-dangers-of-parent-managed-teen-bank-accounts/ How Banks Discriminate against Youth – The Dangers of Parent Managed, “Teen” Bank Accounts], National Youth Rights Association (written by by Xillion, with help from Underdeveloped Prefrontal Cortex). Goes more in depth, including having personal stories regarding young people's lack of financial freedom instead of purely information. Most of the information on this page was originally from this NYRA blog post.		* [https://www.youthrights.org/how-banks-discriminate-against-youth-the-dangers-of-parent-managed-teen-bank-accounts/ How Banks Discriminate against Youth – The Dangers of Parent Managed, “Teen” Bank Accounts], National Youth Rights Association (written by by Xillion, with help from Underdeveloped Prefrontal Cortex). Goes more in depth, including having personal stories regarding young people's lack of financial freedom instead of purely information. Most of the information on this page was originally from this NYRA blog post.

			== References ==

Underdevelopedprefrontalcortex: Create page, add beginning blurb and table w/ info about specific banks + some citations + some lists of banks that don't allow minors w/o parental consent or have unclear policy

2026-01-06T08:56:36Z

Create page, add beginning blurb and table w/ info about specific banks + some citations + some lists of banks that don't allow minors w/o parental consent or have unclear policy

New page

In the United States, most banks place restrictions on young people that prevent them from owning independent bank accounts without consent from a parent, guardian, or (occasionally) any adult willing to cosign. Additionally, banks nearly always grant the adult total control over the account.

== Bank Policy ==
{| class="wikitable"
|+Banks that allow minors to open a bank account without parental consent or an adult cosigner
!
!Minimum Age (No Adult Needed)
!Minimum Zelle Age
!Monthly or Notable Fees
!Notes
!Minimum Opening Deposit
!Can write checks?
!Can cash checks?
|-
!Bank of America (BofA)
|16<ref>https://www.bankofamerica.com/upac/#/get-started/?productCode=FSDPDD00P0W3HNUFL1:~:text=Show%20details,need%20to%20apply</ref>
|16 (or possibly lower)<ref>https://www.zelle.com/faq/what-age-requirement-enroll-zeller. This is not a great source (it doesn't mention BofA specifically) so you should also know that Underdeveloped Prefrontal Cortex was able to get a Zelle account at BofA at 16 without any parental or other adult consent/cosigning for either the bank account or the Zelle.</ref>
|None until age 25, including no overdraft fees<ref>https://www.bankofamerica.com/deposits/checking/advantage-banking/#:~:text=no%20monthly%20fee%20if%20under%20age%2025</ref>
|I'm not sure you even can overdraft, but there are no overdraft fees
|$25<ref>https://www.bankofamerica.com/salesservices/deposits/resources/safebalance-clarity-statement/</ref>
|
|
|-
!Wells Fargo
|17<ref>https://www.wellsfargo.com/checking/student/#:~:text=Teens%2013%20%E2%80%93%2016%20years%20old%20need%20an%20adult%20co%2Downer</ref>
|Unclear<ref>https://www.wellsfargo.com/online-banking/zelle-updates/</ref>
|No monthly fee if under age 25<ref>https://www.wellsfargo.com/checking/student/#:~:minimum%20opening%20deposit&text=No%20monthly%20service%20fee%20charged%20for%20primary%20account%20owners%2013%20%2D%2024%20years%20old</ref>
|Two different account options, info here is true for both accounts
|$25<ref>https://www.wellsfargo.com/checking/clear-access-banking/#:~:text=%2425%20minimum%20opening%20deposit</ref>
|
|
|}
Banks that don't allow minors to open a bank account without parental consent or an adult cosigner:

Capital One, PNC Bank, US Bank, M&T Bank, TD Bank and Regions Bank

Banks with unclear policies regarding minors:

Chase Bank
Page under construction, some citations and some vital information is not yet added.

== Further Reading ==

* [https://www.youthrights.org/how-banks-discriminate-against-youth-the-dangers-of-parent-managed-teen-bank-accounts/ How Banks Discriminate against Youth – The Dangers of Parent Managed, “Teen” Bank Accounts], National Youth Rights Association (written by by Xillion, with help from Underdeveloped Prefrontal Cortex). Goes more in depth, including having personal stories regarding young people's lack of financial freedom instead of purely information. Most of the information on this page was originally from this NYRA blog post.