Yes, but with restrictions that depend on your bank and state
Most banks will let you open a checking account at 17, but you cannot do it alone. You will need a parent or guardian to co-sign or be a joint account holder. The account belongs to both of you until you turn 18, which means your parent can see all transactions and has legal control over the money.
Some banks have a separate product for teens—often called a "teen checking account" or "student account"—with lower minimum balances and fewer fees. Others let you open a regular checking account with a parent present. A few banks, like Ally and Charles Schwab, let you open accounts at 17 without a parent, but this is rare and depends on the specific bank's policy.
The rules vary by state and by bank, so calling ahead or checking the bank's website for "teen accounts" or "minor accounts" will save you a trip. Bring your Social Security number, a form of ID (school ID or state ID), and your parent or guardian.
Key Takeaways
- Most banks require a parent or guardian to co-sign or be a joint account holder when you open a checking account at 17.
- Teen checking accounts often have lower fees and minimum balances than regular accounts, but fewer features.
- Your parent will have full legal access to the account and can see all transactions until you turn 18.
- A small number of online banks let minors open accounts without a parent, but you should confirm the specific bank's policy before visiting or applying.
- Bring your Social Security number, a form of ID, and your parent or guardian to the bank to open the account.
How joint accounts work when you are under 18
A joint account means both you and your parent have equal legal rights to the money. Your parent can withdraw funds, close the account, or change the account settings without asking you. The bank treats your parent as the account owner, even though you can use the debit card and make deposits.
Interest earned on the account is taxable, and your parent may need to report it on their tax return depending on how much accumulates. If the account has a monthly fee, both of you are responsible for it, though usually the parent pays.
When you turn 18, you can ask the bank to remove your parent from the account and make it yours alone. Some banks do this automatically; others require you to visit in person or sign a form. Check with your bank about their process before you turn 18 so there is no gap in access to your money.
What you can and cannot do on a teen account
Teen checking accounts usually come with a debit card, online banking, and the ability to set up direct deposit for paychecks or transfers from your parent. You can typically make withdrawals at ATMs and in branches, and you can send money to other people through the bank's app or website.
What you often cannot do: overdraft your account (the bank will decline the transaction instead of charging a fee), set up a credit card, or take out a loan. Some banks limit how much you can withdraw per day or how many transactions you can make per month. These limits are meant to protect you and teach spending habits, but they can be frustrating if you need access to your own money.
Ask the bank about their specific limits before you open the account. If the restrictions feel too tight, you can always move to a regular checking account once you turn 18, or ask your parent to help you move to a different bank.
Banks that let you open an account at 17 without a parent
Ally Bank and Charles Schwab are the most widely known for letting minors open accounts without a parent present, though their policies can change. Ally requires you to be at least 17 and have a valid Social Security number. Charles Schwab has similar requirements but may ask for additional documentation.
These are online-only banks, so you cannot walk into a branch. You will open the account through their website or app, and you may need to verify your identity through a video call or by uploading a photo of your ID. The process usually takes a few days.
Even if you open an account without a parent, the bank may still require parental consent for certain actions—like closing the account or changing the account type—until you turn 18. Read the terms carefully before you sign up, because the rules are not always obvious from the website.
What to bring to the bank
Bring your Social Security number (or have it memorized), a form of government-issued ID or school ID, and your parent or guardian. Some banks also ask for proof of address, like a utility bill or lease in your parent's name, though this is less common for teen accounts.
If you are opening the account at an online bank, you will need to upload photos of your ID and possibly take a video call to verify your identity. Make sure your ID is not expired and that the photo is clear and matches your current appearance.
Call the bank ahead of time to ask what documents they need. Some branches have different requirements, and you do not want to make the trip only to find out you are missing something.
Moving to your own account when you turn 18
On your 18th birthday, you have the legal right to remove your parent from the account or open a new account in your name alone. You do not need your parent's permission. However, the process depends on the bank: some let you do it online, others require a visit to the branch or a phone call.
If you want to keep the same bank, contact them a few weeks before your birthday and ask what steps you need to take. If you want to switch banks, you can open a new account at 18 without a parent and then transfer your money over. Your old account will close once the balance reaches zero.
Before you turn 18, make sure you know your account number, PIN, and online login information. If your parent has been the one managing the account, ask them to walk you through how to check your balance, set up direct deposit, and use the mobile app.
What happens if you do not have a parent or guardian
If you are in foster care, have an emancipated minor status, or do not have a parent you can contact, some banks will work with a court-appointed guardian, social worker, or foster parent. Call the bank and explain your situation—do not assume they will turn you away.
Some credit unions also have more flexible policies for minors without parents. If a traditional bank will not work with you, a local credit union may be worth trying. Bring whatever documentation you have: a court order, a letter from your social worker, or a foster care placement letter.
If you are truly unable to open an account, you can use a prepaid debit card or a money services account (sometimes called a "basic banking account") at some banks. These do not require a parent, but they have higher fees and fewer features than a checking account. They are a temporary solution while you work on getting the documentation you need for a full account.
Frequently Asked Questions
Can my parent see all my transactions on a joint account?
Yes. Your parent has full legal access to the account and can see every transaction, balance, and transfer. If privacy is important to you, talk to your parent about boundaries before you open the account. Once you turn 18, you can remove them and open a separate account.
Will opening a checking account at 17 affect my credit score?
No. Checking accounts do not appear on your credit report. Your credit score is based on credit cards, loans, and payment history. Opening a checking account at 17 will not help or hurt your credit.
What if I want to open an account but my parent will not co-sign?
Try an online bank like Ally or Charles Schwab that allows minors to open accounts without a parent. If those do not work, ask a trusted adult—a grandparent, aunt, or uncle—if they will co-sign instead. Some banks also accept a court-appointed guardian or social worker in place of a parent.
Can I use my school ID to open a checking account?
It depends on the bank. Some accept school ID as a secondary form of identification, but most want a state-issued ID or passport as your primary ID. Call ahead and ask what forms of ID they accept so you do not make an unnecessary trip.
Do teen checking accounts have monthly fees?
Most teen accounts have no monthly fee or a very low fee (under $5). Some banks waive the fee if you set up direct deposit or keep a minimum balance. Check the bank's fee schedule before you open the account, because fees vary widely.