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Can a Minor Child Open a Bank Account in Texas?

11Minor Bank Accounts

There are times when a minor or child needs to open a checking or savings account.  This begs the question, can a child legally open a bank account?  Texas law addresses this.

Minority Laws in Texas Generally

In Texas, an individual is a minor if they are younger than 18 years of age.

The law restricts the actions a minor can take and provides some protections.  For example, a minor in Texas cannot bring suit against others.  They have to do so through their parent or guardian.  The are able to enter into contracts, but the contract is voidable if the minor disaffirms the contract within a reasonable time after attaining the age of majority.

But what about the ability to open bank accounts?

Texas Bank Account Laws for Minors

Texas law provides that a minor can open a bank account in Texas.  The minor can even be listed as the sole owner of the account.

The disability of being a minor is waived with respect to contracting with the bank for the account.

Texas law goes on to say that the minors parent (or guardian) “may deny the minor’s authority to control, transfer, draft on, or make a withdrawal from the minor’s deposit account by notifying the bank in writing.”  The bank account is then restricted unless the parent joins in with the minor to make the transfer, draft, etc.  This provides some means for a parent to retain some control over the minor’s bank account.