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Applying for today

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Bank of America
Advantage SafeBalance Banking® for Family Banking
Family-friendly features
  • Parent-owned checking account to use with your child[1]
  • $0 monthly maintenance fee[2]
  • Parental controls on spending for more confidence
  • Helps your child spend only the money in the account - no Overdraft Item Fees[3]
  • Debit card option for your child
  • Child's own login with limited features available from age 6
  • No paper checks
See the Personal Schedule of Fees for more information and to view all fees. You can also refer to our Clarity Statement for additional information.

  1. The term parent also refers to legal guardian.
  2. Once your child turns 25, a $4.95 monthly maintenance fee applies.
  3. While this account prevents you from overdrawing in most cases, there may still be times when your account could have a negative balance. This could happen when the final amount of a transaction differs from the amount that was originally authorized, such as when a tip is added to a restaurant charge. If this happens, we won't charge you an Overdraft Item Fee.

Who can apply

You and your child

  • 1 parent and 1 child per account.
  • You must be 18 or older.
  • Your child must be under age 18 at account opening.
  • You must have a personal Bank of America checking or savings account. Business and Merrill accounts do not qualify.
  • You must also have an account login.

Have more children?

You can open a separate SafeBalance® for Family Banking account for each one after you complete this application.

What you'll need to apply

Review your:

  • Name, date of birth and Social Security number.
  • Phone number and email address.
  • Physical U.S. address, no P.O. boxes.

Provide your child's:

  • Form of ID, such as a Social Security number, Individual Taxpayer Identification Number or non-U.S. passport.
For more information about how we handle your child's data, read our Children's Privacy Policy

Verifying your identity:

If we can't verify your identity online, we'll need to see later at a financial center to finish opening this account. Examples of when this may happen:
  • You've had issues with your checking history.
  • You have limited credit or work history in the U.S.

Helping you stay protected with ID verification

We take your privacy and security seriously. That's why we may ask to see you at a financial center to verify two forms of ID.

You'll need one primary and one secondary ID.

Your primary ID is a government-issued photo ID like a U.S. driver's license, learner's permit, state ID card or passport.

Your secondary ID can include a student or work ID, proof of insurance, or bank card from another financial institution.

If the IRS has identified that you are currently subject to backup withholding, then you’ll need to update your W-9 Tax Form at a Bank of America financial center before you can apply. Schedule an appointment to update your W-9 Tax Form. You may apply for a SafeBalance® for Family Banking account 15 business days after submitting your updated W-9.