Born into slavery in Albemarle County, Virginia, in 1825, Charles Bankhead resided in Pike County, Missouri, prior to joining the army. His owner, John Warner Bankhead, had moved his family and slaves from Albemarle County to Missouri in 1842. John Warner Bankhead was Thomas Jefferson's great-grandson, and was educated at the University of Virginia. Through his sister, he was a brother-in-law to John Coles Carter, a member of the illustrious Carter family, one of the First Families of Virginia. Many of his slaves ended up serving in the USCT, often in the 67th regiment.

Charles Bankhead enlisted in Company E of the 67th USCT Infantry Regiment at Louisiana, Missouri, on January 18, 1864, for a period of three years. At the time, Bankhead was a 39 year-old farmer, and measured in at 5 feet, 9 inches tall, possessing black hair and eyes, and a dark complexion. He mustered in as a private at the Benton Barracks in St. Louis, Missouri, on January 29, 1864. Following his regiment's attachment to the Department of the Gulf, District of Port Hudson, Louisiana, in early March of 1864, Bankhead traveled with the regiment to Louisiana, arriving on March 19, 1864.

Following their arrival in Louisiana, the 67th USCT saw action at Mt. Pleasant Landing, Louisiana, on May 15, 1864, when a detachment from the regiment skirmished with Confederates. Bankhead again traveled with the regiment upon reassignment to the Provisional Brigade, District of Morganza in the Department of the Gulf on June 1. He was part of the expedition from Morganza to Bayou Sara, Louisiana on September 6-7. Shortly thereafter, however, Bankhead contracted diarrhea, and he died in the Regimental Hospital in Morganza just a few weeks later on September 24.