How to Deposit a Minor’s Check Into a Bank Account

Parents or guardians often receive checks for minors, whether from gifts, payments, or savings bonds. Depositing these funds securely requires understanding specific banking procedures. Navigating this process ensures the money is properly managed and accessible for the minor’s future needs. This article guides you through the necessary steps, from choosing the appropriate account to understanding when funds become available.

Choosing an Account for a Minor

Depositing a check for a minor typically involves selecting an appropriate bank account structure. One common option is a custodial account, often established under the Uniform Gifts to Minors Act (UGMA) or the Uniform Transfers to Minors Act (UTMA). These accounts designate an adult, such as a parent or guardian, as the custodian who manages the funds for the minor’s benefit until they reach the age of majority, which varies by state but is typically 18 or 21. Funds placed into these accounts are irrevocable gifts to the minor.

Another common choice is a joint account, where the minor is named as a co-owner alongside an adult. Both parties generally have access to the funds and can initiate transactions, though the adult’s presence is usually required for opening and often for significant withdrawals or account changes. Some financial institutions also offer standard minor accounts, which may require an adult co-signer for oversight. These accounts often transition to individual adult accounts once the minor reaches a specified age. Each account type carries different implications regarding control over the funds, access, and potential tax considerations, such as the “kiddie tax” rules for unearned income.

Gathering Necessary Information and Documents

Before depositing a minor’s check, collecting all required information and documentation is necessary. For the minor, you will need their full legal name, date of birth, and Social Security Number (SSN). This information confirms their identity and allows for proper account linkage.

The adult making the deposit, typically a parent or legal guardian, must also provide their full legal name, SSN, and a valid government-issued photo identification. Acceptable forms of ID usually include a driver’s license, state-issued identification card, or a passport. Financial institutions might additionally request proof of address, such as a recent utility bill or a lease agreement, to verify residency.

The check itself requires proper endorsement. It is generally advisable to write “For Deposit Only” on the endorsement line, followed by the minor’s name. If the deposit is for a custodial or joint account, the adult custodian or joint owner will typically sign below the minor’s name, sometimes adding a notation like “as custodian for [Minor’s Name]” or “joint with [Minor’s Name].” Specific endorsement requirements can vary between banks, so confirming with your financial institution beforehand can prevent delays.

Making the Deposit

With all necessary information and documents prepared, the deposit process can begin through several convenient methods. Depositing in person at a bank teller window is a straightforward option. You will present the endorsed check along with your government-issued photo identification to the teller, who will process the transaction and provide a deposit receipt.

Automated Teller Machines (ATMs) offer another method for depositing checks. After inserting your debit card and entering your PIN, follow the on-screen prompts to select the deposit option and insert the endorsed check into the designated slot. Retain the ATM receipt for your records as proof of the transaction.

Mobile check deposit, available through most banking applications, provides a convenient way to deposit checks. This method involves endorsing the check (often with “For Mobile Deposit Only” as required by the bank) and using your smartphone camera to capture clear images of both the front and back of the check. After confirming the deposit amount within the app, the transaction can be submitted.

Understanding Fund Availability

After a check is deposited, funds are not always immediately accessible, as banks adhere to specific availability policies. These policies dictate when the deposited money becomes available for withdrawal or use, distinguishing between the deposit date and the date funds are released. Financial institutions place a hold on checks to ensure they clear through the banking system.

Common hold periods for personal checks range from one to two business days. However, certain situations can extend these holds, such as deposits of larger amounts, typically exceeding $6,725, or deposits made into newly opened accounts, generally those less than 30 days old. Checks that have been re-deposited or those from accounts with a history of repeated overdrafts may also be subject to longer hold times.

The Expedited Funds Availability Act (Regulation CC) provides a framework for these hold periods, aiming to balance consumer access to funds with banks’ need to mitigate risk. While some funds may be available the next business day, exceptions permit banks to extend holds, often up to five to seven business days, with proper notification to the account holder. You can monitor the status of your deposit and determine when funds will be available through online banking platforms, mobile apps, or by contacting your bank’s customer service.