What a 17-year-old can do right now
A 17-year-old cannot open a checking account alone in their own name at most banks. Banks require the account holder to be 18 or older, or to have a parent or guardian on the account as a co-owner. The second option—a joint account—is what most families use, and it takes about 15 minutes to set up in person or online.
Some banks offer accounts specifically for minors that work differently: the parent controls the account, the teenager can use a debit card, and the parent can see all transactions. These are sometimes called teen accounts, youth accounts, or minor accounts. They exist to let teenagers learn money management while staying under parental supervision.
A few online banks and fintech companies allow 17-year-olds to open accounts without a parent present, but they still require parental consent and verification. The parent does not appear on the account itself, but the bank confirms the parent agreed to it.
Key Takeaways
- A joint checking account with a parent is the most common option and works at nearly every bank.
- Teen-specific accounts let a parent monitor spending and set limits while the teenager builds money habits.
- Some online banks allow minors to open accounts with parental consent, though the parent may not be listed as co-owner.
- You will need a Social Security number, proof of identity, and proof of address to open any account.
- The parent or guardian must be present in person or verify their identity online, depending on the bank's process.
Joint accounts: the standard route
A joint account has both the teenager and the parent listed as owners. Both can deposit and withdraw money, both receive statements, and both are responsible for overdrafts or fees. The parent can see every transaction in real time if the bank offers online access.
To open a joint account, you go to a bank branch or apply online. You will need the teenager's Social Security number, a form of ID (school ID, state ID, or passport), and proof of address (a utility bill or lease in either name). The parent needs the same documents in their own name. If you apply online, the bank will ask the parent to verify their identity through a video call or by uploading documents.
Most banks do not charge a monthly fee for joint accounts for minors, though some require a minimum balance of $25 to $100. The account can stay joint after the teenager turns 18, or they can convert it to an individual account at that time.
Teen accounts: parent-controlled monitoring
Teen accounts are designed so the parent owns and controls the account, but the teenager gets a debit card and can make purchases. The parent can set daily spending limits, block certain types of transactions (like ATM withdrawals), and receive alerts when the card is used. Some banks let the parent freeze the card instantly from their phone.
The teenager cannot overdraft the account—transactions are declined if there is not enough money. This removes one source of fees and teaches spending within limits. The parent can also see a detailed breakdown of where money is being spent.
Teen accounts are offered by most major banks (Chase, Bank of America, Wells Fargo, US Bank) and many online banks (Ally, Chime, LendingClub). The setup process is the same as opening any account: the parent brings documents to a branch or applies online. The teenager does not need to be present, though some banks ask the parent to bring the teenager's ID to verify the relationship.
Online banks and fintech options
Some online-only banks and fintech companies (Greenlight, FamZoo, GoHenry, Chime) allow a 17-year-old to open an account with parental consent, without the parent being listed as a co-owner. The teenager's name is on the account, but the parent must verify they consent before the account is activated.
These services typically work through a mobile app. The teenager downloads the app, enters their information, and the parent receives a notification to approve. The parent verifies their identity (usually by uploading a photo ID), and the account opens within a few hours or a day. The teenager gets a debit card and can start using it immediately.
The trade-off is that these accounts often come with monthly fees ($5 to $15) or require a parent to pay for a premium tier to access monitoring features. They also may not offer check-writing or ATM access at all banks, so confirm what the teenager actually needs before signing up.
What documents you need
Both the teenager and the parent will need to provide:
- Social Security number
- Date of birth
- A government-issued photo ID (state ID, driver's license, or passport)
- Proof of current address (utility bill, lease, or bank statement dated within the last 60 days)
If you are opening the account online, the bank may ask for a photo of the ID and proof of address, or may ask you to verify your identity through a video call. Some banks will mail a temporary card and require you to activate it in person at a branch before you can use it.
If the teenager does not have a state ID or driver's license yet, a school ID usually works, though the bank may also accept a passport or birth certificate. Call the bank ahead of time if you are unsure whether the teenager's ID will be accepted.
What happens when they turn 18
When the teenager turns 18, the account does not automatically change. If it is a joint account, both owners remain on it unless one of you asks the bank to remove the other. Many families keep the joint account open so the parent can still monitor spending or help with financial decisions.
If the teenager wants the account to be theirs alone, they can ask the bank to remove the parent. This usually takes a few days and requires both the teenager and parent to sign a form or verify the request online. Some banks will do it over the phone if both parties are on the call.
Teen-specific accounts usually convert to a standard account at 18, and the parent's monitoring access ends. The teenager can then manage the account independently, though the parent may still be able to see it if they are listed as an authorized user.
Frequently Asked Questions
Can a 17-year-old open a checking account without a parent?
No, not at traditional banks. Most require the account holder to be 18 or have a parent as co-owner. Some online banks allow minors to open accounts with parental consent, but the parent must still verify their identity and approve the account before it is activated.
Do both the teenager and parent need to be present to open the account?
Not necessarily. If you open the account in person at a bank branch, the parent usually needs to be there, but the teenager does not always have to be. If you apply online, the parent verifies their identity through the bank's website or app, and the teenager can provide their information separately.
Can a 17-year-old get their own debit card?
Yes. On a joint account, the teenager can get a debit card in their name. On a teen account, the debit card is issued in the teenager's name even though the parent owns the account. Online banks that allow minors also issue debit cards to the teenager.
What is the difference between a joint account and a teen account?
On a joint account, both the teenager and parent are legal owners and can withdraw money or close the account. On a teen account, the parent is the owner and the teenager is an authorized user—the parent controls spending limits and can freeze the card. Teen accounts are better if you want to monitor spending closely; joint accounts work better if the teenager needs full access.
Will opening an account affect the teenager's credit?
No. Opening a checking account does not create a credit report or affect credit score. Credit is built through borrowing (credit cards, loans) and paying on time. A checking account is just a place to store money.