Age to open a bank account in Canada: when kids and teens can open one

Parents ask when a child can have a bank account, and teens ask when they can open one without a parent in the room. The answer comes from each bank's own policy rather than one federal age limit, so this guide compares what two large banks publish, explains what the law says about minors depositing money, and walks through the ID you need and what changes at the age of majority.

The age to open a bank account, bank by bank

Banks set their own rules, so the numbers below are what two large banks publish, not a national standard. Check the bank you plan to use.

The two banks draw the line in different places, so a teenager who can open an account alone at one bank may need a parent at another. Credit unions publish their own ages as well. A 2020 LawNow article, for example, listed youth accounts at ATB, RBC, TD and Servus Credit Union with different age bands and parental involvement. Treat that as a dated example of the variety, not current rules.

What the law says about minors and bank accounts

Under Canadian common law, people under the age of majority generally cannot enter into contracts, with exceptions. The same LawNow article says the Bank Act allows any natural person to deposit money in a federally regulated bank, whether or not they can legally enter contracts, so a minor can open a deposit account even if they cannot sign a contract. A credit card is different. It is a contract, so a minor needs a parent or guardian to co-sign, and the co-signer is responsible for unpaid balances. See our guide to co-signing before agreeing to that.

The age of majority differs by province. LawNow gives 18 for Alberta, and RBC refers to "the age of majority in your province". Look up yours before you rely on any rule of thumb.

ID you need for a youth account

FCAC says a bank must confirm your identity before opening an account, and you must show original ID, not copies. There are two options: two documents from an approved list (one showing name and address, one showing name and date of birth), or one document showing name and date of birth plus confirmation of your identity by a person such as a bank customer in good standing or a respected community member.

For children the bank sets specific requirements:

• RBC: when you open an account for your child, you show ID for both yourself and your child. Most banks require government-issued photo ID, and some accept a primary and secondary document.
• TD, parent or guardian: one valid photo ID, or two valid non-photo IDs.
• TD, ages 14 to 15: a valid photo ID, or non-photo ID showing name and date of birth, such as a birth certificate or citizenship certificate.

Our guides to what you need to open a bank account and whether you need a SIN cover the adult rules.

Joint accounts with a parent or guardian

Under the age of majority, some banks require a parent or guardian to be a joint account holder. TD defines a joint account as one in the name of two or more people, here the youth and the parent or legal guardian. LawNow notes that a joint holder has the same rights to access the money and manage the account unless the bank sets different controls. That matters for trust: a joint parent can see and move the child's money.

Before you open one, read the account agreement and keep a copy; FCAC says to read it carefully and ask about anything you do not understand. See our guide to joint bank accounts for the risks and how to close one.

Opening online vs in a branch

RBC says to open an account online you must be at least the age of majority in your province. Accounts for children can generally be opened in person at a branch, where nearly all account types are available, including joint and children's accounts, and an appointment may be needed. RBC says opening in person or by phone takes about 30 minutes, versus about 10 minutes online for a new client. If an online application is not approved, for example because you are under the age of majority, RBC recommends booking an appointment at a branch.

A bank can also refuse to open an account for reasons FCAC lists, such as suspected illegal use or refusing to allow verification of your identity, and if it refuses it must give written notice and explain how to complain.

Questions to ask the bank before you go

1. What is the minimum age to open an account alone, and at what age does a parent no longer need to attend?
2. Must a child under that age have a joint account, or can a parent open it in trust or another way?
3. What ID is needed for the child and for the parent or guardian?
4. What are the monthly fees, and does the account have a minimum balance or a transaction limit?
5. What changes when the child turns the age of majority, and does the account convert automatically?
6. Can the account be opened online, or only in a branch?

Write the answers down. Bank policies change, and the written answers help if you need to raise a complaint later; FCAC says a bank that refuses to open an account must give written notice of why and how to complain.

Which account should a young person pick

Most youth and student accounts are chequing accounts. TD describes its Student Chequing Account as having no monthly fees and unlimited transactions, but check the current fee document before you open. Compare these before choosing:

• Monthly fee and what waives it. See our guides to low cost accounts and no fee accounts.
• Chequing or savings. A first account is often chequing; see chequing vs savings. For savings, see what a HISA is.
• Parent visibility. Joint accounts give a parent visibility; separate accounts may not.
• Deposit protection. See CDIC deposit insurance.

What changes at the age of majority

When a young person reaches the age of majority they can usually open accounts online, sign contracts in their own name and apply for credit. That is also when to think about building a credit history; see how to build credit and secured credit cards. Their first job brings payroll deductions; see first paycheque deductions. If a child is a beneficiary of an education plan, the RESP and CESG guide covers the grants. More tools are on the calculators page.

One practical habit helps at every age: look at the account activity regularly. For a child, that means a monthly check with a parent so fees, small subscriptions and unexpected charges are caught early. For a new adult, it means reading the first few statements closely, since that is when a fee schedule or a forgotten subscription first shows up.

Sources

Financial Consumer Agency of Canada (FCAC), Opening a bank account (modified October 23, 2026: identity confirmation, ID options, reasons a bank may refuse, account agreement). TD Canada Trust, Ready to open an account (youth account ages, ID and joint account rules). RBC, How to open a bank account in 5 simple steps (ages 13 and 14 in Quebec, online age of majority, branch opening). LawNow Magazine, Money, Money, Money! (October 28, 2020: Bank Act, minors, credit cards, joint accounts, Alberta age of majority; examples are dated). Bank policies change; confirm with the bank.