Can you have a bank account at 16

• Bank accounts
• How to open a bank account for a minor

How to open a bank account for a minor 

It’s easy. Most accounts can be opened in five minutes or less. Here’s what you’ll need. 

For all bank accounts:

• Both you and the minor must provide a valid primary ID, such as a state ID card, driver’s license, or passport. It must have a photo and cannot be altered or expired.
• You may both be asked to provide a secondary form of ID, such as a student ID or a major credit card.
• You must provide proof of address, such as a utility bill or financial statement.

For joint checking accounts: 

• The minor must be at least 13 years of age. 
• The account can be opened online or in a branch. 
• If you open it in a branch, you must both be present. 

For joint savings accounts: 

• The minor can be any age. 
• The account can only be opened in a branch. 
• You must both be present to open the account.

Access Smart Rewards™

Open a U.S. Bank Smartly™ checking account with your child and you’ll be auto enrolled in the U.S. Bank Smart Rewards™ program. 

These are just some of the benefits:

• $0 monthly maintenance fees: Multiple ways to get them waived1
• $0 ATM transaction fees at U.S. Bank and MoneyPass® Network ATMs and on first four Non-U.S. Bank ATM transactions per statement period (Non-U.S. Bank ATM transaction fees apply after four)2, 3
• $0 overdraft protection transfers made from an eligible linked U.S. Bank deposit account 4
• $0 overdraft fees when overdrawn $50 or less 5
• Overdraft Fee Forgiven6program
• A campus banking program at participating colleges and universities

No need to write checks?

Consider a Safe Debit Account, a “checkless” no overdraft fee option that is not part of the U.S. Bank Smart Rewards program. Open an account in minutes with a minimum balance of $25 and you’ll enjoy these and other benefits:

• The U.S. Bank Visa® Debit Card
• No overdraft fees
• $0 ATM transaction fees at U.S. Bank and MoneyPass® Network ATMs. Non-U.S. Bank ATM transaction fees apply2,3
• 24/7 customer service
• The U.S. Bank Mobile App

Note: The $4.95 monthly maintenance fee cannot be waived.

It’s never too early to start saving.

Teach your child the value of saving. Open a joint Standard Savings account at a branch with a $25 minimum opening deposit. The benefits include:

• Ability to earn interest 7
• An automated savings option
• $0 monthly maintenance fee for six months. The $4 fee after six months can be waived with a $300 minimum daily balance8, $1,000 average monthly collected balance9, or if the account holder is age 17 or younger 10

The verdict is in…. Our app is #1.

More than one million customers have given the U.S. Bank Mobile App an overall rating of five stars. Industry experts ranked us #1 for:

• Best mobile app11
• Best digital mortgage tools 12
• Best customer service features13
• Best mobile check deposit14

Grow your financial knowledge.

We have tools and tips specifically designed for teens and their parents. Our Financial IQ provides an abundance of information on topics relevant to you and your teen.

Allowance basics for parents and kids

Teach your kids how to save and spend wisely.

How to become financially independent

It’s easier than you think.

Get started

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Disclosures

1. Members of the military (requires self disclosure) and customers ages 24 and under and those 65 and over pay no monthly maintenance fee. All others can have it waived by meeting any one of the following criteria: Have combined monthly direct deposits totaling $1,000 or more; or keep a minimum average account balance of $1,500 or more; or hold an eligible U.S. Bank credit card; or qualify for one of the four Smart Rewards™ tiers (Primary, Plus, Premium or Pinnacle).

   The average account balance is calculated by adding the balance at the end of each calendar day in the statement period and dividing that sum by the total number of calendar days within the statement period. Other fees may apply.

   Please refer to the Consumer Pricing Information disclosure for more details.

2. If a Non-U.S. Bank ATM transaction fee applies, U.S. Bank will assess this fee for each ATM transaction conducted at the Non-U.S. Bank ATM. Additionally, Non-U.S. Bank ATM owners may apply a surcharge fee unless they participate in the MoneyPass® Network. If you use an ATM that uses the MoneyPass® Network and are charged a surcharge fee, please contact us at 800-USBANKS (872-2657) for a refund. To find MoneyPass® ATM locations, select Show MoneyPass® ATM Network locations in the ATM locator.

   Non-U.S. Bank ATMs are defined as any ATM that does not display the U.S. Bank logo in any manner, physically on the ATM or digitally on the screen. Please refer to the Consumer Pricing Information disclosure (PDF) section titled Miscellaneous Checking, Savings or Money Market Fees for a summary of ATM transaction fees.

3. When changing checking account types, corresponding Non-U.S. Bank ATM transaction fee waivers will become available on the first day of the next statement cycle. ATM transaction fee waivers are only applicable for your U.S. Bank SmartlyTM Checking accounts.

4. If you have linked eligible accounts and the negative Available Balance in your checking account is $5.01 or more, the advance amount will transfer in multiples of $50. If, however, the negative Available Balance is $5 or less, the amount advanced will be $5. The Overdraft Protection Transfer Fee is waived if the negative Available Balance in your checking account is $50 or less.

   Note: If you have Overdraft Protection and your account becomes overdrawn, Overdraft Protection funds will be accessed before the account is eligible for U.S. Bank Overdraft Fee Forgiven.
   

   Refer to Your Deposit Account Agreement section titled Overdraft Protection Plans for additional information.
   

5. In the event the Available Balance at the end of the business day is or would be overdrawn $50.01 or more and the transaction paid is $5.01 or more, an Overdraft Paid Fee may be assessed for each item. In the event the Available Balance at the end of the business day is or would be overdrawn $50.00 or less, a fee will not be assessed. U.S. Bank limits the number of charges to a daily maximum of four Overdraft Paid Fees per day, no matter how many items we pay on your behalf.

6. Consumer checking accounts (excluding Safe Debit accounts) assessed an Overdraft Paid Fee may qualify for a fee waiver. The Overdraft Fee Forgiven period starts the first day your Available Balance becomes negative and you were charged an Overdraft Paid Fee(s). U.S. Bank will review your account at the end of the Overdraft Fee Forgiven period (11 p.m. ET) and if your Available Balance (excluding the Overdraft Paid Fees and including immediate and same day deposits), is at least $0 we will waive Overdraft Paid Fee(s) charged. Deposits that generally will qualify for Overdraft Fee Forgiven include: ACH and electronic deposits, cash deposits, wire transfers, ATMs deposits at U.S. Bank ATMs, check deposits in branch and internal transfers from another U.S. Bank account. Deposits that generally will not qualify for Overdraft Fee Forgiven include: Mobile check deposit, extended hold placed on a deposit and deposits into new accounts opened less than 30 days where funds are generally made available the fifth business day after the day of your deposit. Refer to the Determining the Availability of a Deposit – All Accounts section of Your Deposit Account Agreement for full funds availability details.
   

7. Variable rate account – Interest rates are determined at the bank’s discretion and may change at any time. Speak to a banker for current deposit rates, disclosures on rates, compounding and crediting and other balance information.

8. The daily balance is the balance at the end of each business day, equal to the beginning balance for that day plus the current business day credits, minus the current business day debits. Business days are Monday through Friday; federal holidays are not included.

9. Average monthly collected balance – The average monthly collected balance is calculated by adding the principal in the account for each calendar day in the statement period and dividing that figure by the total number of calendar days in the statement period.

10. Account will be assessed the monthly maintenance fee when the youth reaches 18 years of age. In the event the youth is not currently a signer on the account, the youth must visit a branch with the custodian/guardian on the account to gain authority to access account funds.

11. In its Q3 2021 Mobile Banker Scorecard, the industry benchmarking firm Keynova Group ranked U.S. Bank #1 overall in mobile banking, including #1 for mobile app.

12. The 2021 Kiplinger Best Financial Customer Service rankings gave U.S. Bank the highest score among mortgage lenders in its survey for best mortgage digital capabilities.

13. In Business Insider Intelligence's fourth annual US Mobile Banking Competitive Edge Study in 2020, the U.S. Bank Mobile App was ranked No. 1 in customer service features.

14. In its 2021 Mobile Deposit Benchmark report, Cornerstone Advisors rated the U.S. Bank Mobile App check deposit feature as number one in the industry for customer experience based on factors including deposit limits, error prevention, real-time status updates, auto-capture functionality and more. 

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Deposit products are offered by U.S. Bank National Association. Member FDIC.

The U.S. Bank Visa® Debit Card is issued by U.S. Bank National Association, pursuant to a license from Visa U.S.A. Inc.

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