Can a 13-Year-Old Obtain an ATM Card? Here's What You Need to Know

Learn if a 13-year-old can have an ATM card and what a custodial account entails.

Published Jul 13, 2025

Overview

In today's digital banking landscape, many parents wonder about the financial independence of their children, specifically whether a 13-year-old can have an ATM card. This video explores the possibility of minors obtaining ATM cards through custodial or joint accounts with their guardians. Financial institutions have adapted to these needs by offering tailored services for young account holders, which can provide valuable lessons in financial management and saving from an early age. Understanding these options not only empowers parents but also helps teenagers navigate their financial futures responsibly.

Video transcript

A 13-year-old can have an ATM card if it is a part of a custodial or joint account with a parent or guardian. Financial institutions usually offer special accounts for minors that include ATM cards with specific limits to encourage savings and teach financial management. Consult your bank for account options and required documentation.

Questions and answers

What age can a child get an ATM card?
Most banks allow children as young as 13 to have an ATM card if it's linked to a custodial or joint account with a parent or guardian.
What are custodial accounts?
Custodial accounts are financial accounts managed by an adult for the benefit of a minor. They allow minors to access banking services under adult supervision.
What are the limits on ATM cards for minors?
ATM cards for minors typically have spending and withdrawal limits set by the bank to promote responsible financial management.
What should I prepare to open a custodial account?
To open a custodial account, you generally need identification for both the minor and the parent or guardian, proof of address, and necessary bank forms.