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The short answer
To open a bank account for a US-born child, a parent or guardian usually opens it jointly with the child or as custodian, and the bank commonly asks for the child's Social Security number and birth certificate plus the adult's own ID, address and tax number. Get the child's SSN first: SSA says it is free and simplest to request at the hospital when you register the birth.
A US-born child often starts receiving money early: naming-ceremony gifts from aunties, birthday money from grandparents in Nigeria, perhaps child benefit-style tax credits paid to the parent. Putting that money in the child's own account keeps it separate and teaches saving later. This guide covers what banks ask for, the main account types and the points Nigerian parents commonly trip over.
Start with the child's SSN
Banks need a tax identification number for the account, and for a US-born child that is the Social Security number. SSA's guide for parents (April 2026) says the simplest route is to say yes when the hospital asks whether you want an SSN for the baby while completing the birth certificate paperwork. If you missed it, you can apply later, free, with original documents. Our guide to getting an SSN for a US-born baby has the steps.
The account types
| Type | Who controls it | Points to know |
|---|---|---|
| Joint account (adult and minor) | Both, in practice the adult | Common for children's savings accounts at banks and credit unions; the adult can usually withdraw |
| Custodial account (UTMA or UGMA) | An adult custodian, for the child | Money belongs to the child; passes to the child at an age set by state law |
| Teen checking with a debit card | Adult and teen | Often from about age 13; parental controls and limits |
| 529 or other education account | The owner, for the beneficiary | For education costs; see the 529 guide |
The labels and minimum ages differ from bank to bank. The key difference is ownership. In a custodial account the money is the child's, and the custodian manages it for the child's benefit until the age set by state law. In a joint account the adult has rights over the money too. Ask the bank which it is offering.
What banks commonly ask for
- For the child: SSN, US birth certificate or passport, date of birth and address.
- For the parent or guardian: government photo ID (a Nigerian passport is accepted by some banks; others want a US ID), proof of address, and an SSN or ITIN.
- Both present: many banks ask the child to be present for older children, or for the parent to open in branch.
If you do not yet have an SSN, some banks accept an ITIN or a passport alone. Our guides to opening a US bank account as a new Nigerian immigrant and which IDs work without an SSN cover the adult side.
Gifts from relatives in Nigeria
Money from grandparents or uncles is a gift. For US tax, a gift is generally the giver's concern rather than the receiver's, and the IRS gift tax FAQ gives the 2026 annual exclusion as $19,000 per recipient. Larger gifts from abroad can trigger a reporting form for the recipient; see gift tax rules for large sums. Keep a simple record of who sent what, and when, in case the bank asks where deposits came from.
Interest and tax
Interest earned in a child's name is the child's income. Small amounts usually mean no tax, but rules on children's investment income can make larger amounts taxable at the parent's rate. If a child's account grows large, ask a tax preparer.
Child tax credit and the SSN
The SSN matters beyond banking. The IRS says the Child Tax Credit (up to $2,200 per child) requires the child to have a work-valid SSN issued before the return's due date, along with other conditions. Getting the number early serves both purposes.
Steps
- Get the child's SSN and keep the card and birth certificate safe.
- Choose the account type: joint savings for flexibility, custodial if the money should belong only to the child.
- Compare two or three banks or credit unions for fees and minimum balances.
- Open in branch with the child's documents and your ID.
- Set up a standing transfer if you want regular saving.
Where Pryme fits
If relatives in Nigeria want to give naira, a Pryme account holds naira and dollars with local details for each, so gifts can arrive in naira and be converted with Swap when you choose. A naira Savings Box can also hold money for the child's trips or ceremonies at home. A US account in the child's name is still opened with a US bank.
Questions people ask
What do I need to open a bank account for my baby?
Banks commonly ask for the child's SSN and birth certificate, and the parent's photo ID, proof of address and SSN or ITIN. Check the bank's list.
Can I open my child's account with a Nigerian passport?
Some banks accept a foreign passport for the adult; others want US ID. Ask before visiting.
What is a custodial account?
An account (UTMA or UGMA) where an adult manages money that belongs to the child until an age set by state law.
Does my baby need an SSN for a bank account?
Usually yes, as the account's tax number. SSA says requesting it at the hospital is simplest and it is free.
Sources
- SSA, Social Security numbers for children (Publication 05-10023, April 2026) · accessed Oct 2026
- IRS, Frequently asked questions on gift taxes · accessed Oct 2026
- IRS, Child Tax Credit · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.