What you need to open a joint account at Wells Fargo

Wells Fargo requires both account holders to visit a branch in person with a valid government-issued ID. You cannot open a joint savings account online or by phone — the bank requires face-to-face verification for all joint accounts. Bring a photo ID (driver's license, passport, or state ID) for each person who will own the account.

You will also need to decide on the account type before you arrive. Wells Fargo offers several joint savings products: the Wells Fargo Savings Account (which has no monthly fee if you maintain a $300 minimum balance or set up direct deposit), and the Wells Fargo Way2Save Savings Account (designed for regular savers, with no monthly fee). Ask the banker which account fits your savings goals.

The second account holder does not need to be a Wells Fargo customer already. If one of you has an existing Wells Fargo account, bring that information, but the other person can be brand new to the bank.

Key Takeaways

  • Both account holders must visit a Wells Fargo branch together with valid photo ID; online or phone opening is not an option for joint accounts.
  • You need to choose between the standard Savings Account (requires $300 minimum balance or direct deposit to avoid monthly fees) and Way2Save Savings Account (no monthly fee).
  • The account is opened on the spot during your branch visit, and you can deposit money the same day.
  • Both owners have equal access to the account and can withdraw funds or close the account without the other person's permission.
  • Wells Fargo will ask how you want to hold the account — as joint tenants with rights of survivorship or as tenants in common — which affects what happens to the money if one owner dies.

Steps to complete at the Wells Fargo branch

Arrive at your nearest Wells Fargo branch during business hours with both account holders and both IDs. Tell the banker you want to open a joint savings account. The banker will ask you to choose between the Savings Account and Way2Save Savings Account, verify both IDs, and collect basic information: names, dates of birth, Social Security numbers, addresses, and phone numbers for both owners.

The banker will then ask how you want to hold the account. This is a legal question about what happens if one owner dies. Joint tenants with rights of survivorship means the surviving owner automatically inherits the full balance. Tenants in common means each owner's share goes to their estate or beneficiaries, not automatically to the other owner. Most couples choose joint tenants with rights of survivorship; most unrelated people choose tenants in common. Ask the banker to explain both options if you are unsure.

You will sign documents and the account opens immediately. You can deposit money that same day. The banker will give you a temporary debit card or direct you to order one online through your Wells Fargo account.

What happens after the account opens

Both account holders receive online access to the account. You can log in separately using your own username and password, and you will both see the same balance and transaction history. Either person can transfer money out, deposit checks, or withdraw cash without notifying the other owner.

Debit cards are ordered separately for each owner. If you want a card immediately, ask the banker whether a temporary card is available during your visit. Otherwise, cards arrive by mail within 7 to 10 business days.

You can set up direct deposit, automatic transfers, or bill pay from the joint account. These features work the same way as they do on individual accounts.

Monthly fees and minimum balance requirements

The Wells Fargo Savings Account charges $5 per month unless you maintain a $300 minimum daily balance or set up direct deposit of at least $500 per month. The Way2Save Savings Account has no monthly fee and no minimum balance requirement, but it limits you to six withdrawals per month (after six, you pay $10 per withdrawal).

Interest rates on both accounts are very low — typically well below 0.1% annually. If you are saving for a specific goal and want higher returns, ask the banker about Wells Fargo Money Market Accounts or Certificates of Deposit (CDs), though these have different rules about joint ownership and withdrawal limits.

Both account types are covered by FDIC insurance up to $250,000 per depositor per bank. On a joint account, each owner's share is insured separately, so $250,000 per person means up to $500,000 total coverage if the account is held as joint tenants.

What to know about access and control

Both owners have complete control of the account. Either person can withdraw all the money, close the account, or change the account settings without the other owner's permission. There is no way to require both signatures or to restrict one owner's access. If you want to protect the money, you need to trust the other person completely.

If one owner dies, the surviving owner keeps full access to the account (assuming you chose joint tenants with rights of survivorship). The account does not freeze, and the surviving owner can continue using it immediately. If you chose tenants in common, the account may be frozen while the deceased owner's estate is settled, which can take weeks or months.

If you want to remove someone from the account later, you must visit a branch together and both sign paperwork to convert it to a single-owner account or to add a different owner. You cannot make this change online or by phone.

Bringing a minor as a joint account holder

Wells Fargo allows minors (under 18) on joint savings accounts, but the account must be opened in person at a branch with a parent or legal guardian present. The minor must have a valid ID (school ID, passport, or state ID). The parent or guardian does not need to be a co-owner; they are there to verify the minor's identity.

A minor can use the debit card and access the account online once it is open. There are no special restrictions on how much a minor can withdraw. If you want to limit a minor's spending, you will need to manage that outside the account — Wells Fargo does not offer parental controls on joint accounts.

Frequently Asked Questions

Can I open a joint account if one person lives out of state?

No. Both account holders must visit the same Wells Fargo branch in person. If you live in different states, you will need to coordinate a time to meet at a branch in one of those states. Wells Fargo does not allow remote opening for joint accounts, even with video verification.

What if I want to add someone to my existing Wells Fargo account?

You cannot convert an individual account to a joint account online. You must visit a branch with the other person and both sign paperwork. The banker will close the individual account and open a new joint account, transferring the balance. This takes one business day.

Do both owners need to be U.S. citizens?

No, but both must have a valid government-issued ID and a Social Security number or ITIN (Individual Taxpayer Identification Number). Wells Fargo will ask for proof of address for both owners, which can be a utility bill, lease, or government document.

What happens if one owner wants to close the account?

Either owner can close the account without the other's permission. The account closes immediately, and any balance is paid out to whoever requested the closure. The other owner loses access. If you want to prevent this, you need a different account structure — ask a banker about alternatives.

Can I set up alerts so both owners are notified of withdrawals?

Wells Fargo allows you to set up transaction alerts (email or text when money moves), but both owners must set up their own alerts separately. There is no way to require the other owner's approval before a withdrawal happens.