Yes, 17-year-olds can open bank accounts, but the rules depend on the bank and the account type
Most banks allow 17-year-olds to open a checking or savings account, but you will need a parent or guardian to co-sign or be a joint owner. A few banks offer teen accounts specifically designed for minors without requiring an adult on the account, though these come with spending limits and transaction restrictions. The account type, the bank's own policies, and whether you have an ID all affect what you can actually open.
If you are 17 and want a bank account, start by calling or visiting branches near you and asking whether they offer teen accounts or minor accounts. Some banks make this easy; others require a parent to visit in person. Knowing what each bank offers before you show up saves time and prevents a wasted trip.
Key Takeaways
- Most banks let 17-year-olds open accounts with a parent or guardian as a joint owner or co-signer.
- Some banks offer teen-specific accounts that do not require an adult on the account, though these usually have daily spending limits and transaction caps.
- You will need a valid ID (state ID, passport, or school ID depending on the bank) and proof of your Social Security number.
- Joint accounts let your parent see all transactions and withdraw money, while custodial accounts give the bank control until you turn 18 or 21.
- Once you turn 18, you can convert a joint account to your own or open a separate account without a co-signer.
Joint accounts: the most common option for 17-year-olds
A joint account is an account owned by both you and your parent or guardian. Both of you can deposit money, withdraw money, and see all transactions. The bank treats you equally as owners, which means your parent has full access to the account at any time. This is the simplest route because most banks offer it and require minimal paperwork.
To open a joint account, you and your parent will need to visit a branch together or, at some banks, complete the process online. Bring a valid ID (state ID, passport, or military ID), your Social Security number, and proof of address. Your parent will need the same documents. The account is usually open within a few minutes to a few hours, depending on the bank.
The downside is privacy: your parent can see every transaction and withdraw all the money. If you want more independence, ask whether the bank offers a teen account instead.
Teen accounts: accounts designed for minors without requiring an adult
Some banks—including Ally, Fidelity, and certain credit unions—offer teen accounts that do not require a parent to be a joint owner. Instead, the parent is listed as a custodian or guardian, which means they can monitor the account but cannot withdraw money without your permission. These accounts are designed to let you build financial habits with less direct parental control.
Teen accounts usually come with restrictions: daily spending limits (often $500 to $1,000), caps on the number of transactions per month, or no overdraft protection. These limits reset monthly and are meant to prevent large losses if your card is lost or stolen. Once you turn 18, the restrictions typically lift and the account becomes a standard adult account.
Not every bank offers teen accounts, and the features vary widely. Call ahead to ask whether the bank has one and what the specific limits are. If the bank does not offer a teen account, you will need to open a joint account with your parent.
Custodial accounts: the bank holds control until you reach adulthood
A custodial account is held in your name, but your parent or guardian is the custodian—meaning the bank gives them legal control of the money until you reach the age of majority (18 or 21, depending on your state). Your parent can withdraw money and make decisions about the account, but the money is legally yours. Once you turn 18 or 21, the account transfers to your full control and your parent's authority ends.
Custodial accounts are less common for checking accounts and more common for savings accounts or investment accounts. Some banks offer them; others do not. Ask the bank whether they offer a custodial checking account before you visit.
What documents and ID you will need
Bring a valid photo ID. Most banks accept a state ID, passport, military ID, or school ID with a photo. Some banks are stricter and only accept state IDs or passports. Call ahead to confirm what the bank will take.
You will also need to provide your Social Security number. The bank uses this to run a background check and report the account to credit bureaus. Your parent will need their Social Security number and ID as well.
Proof of address is sometimes required. A utility bill, lease, or bank statement with your name and current address usually works. If you do not have one in your name, your parent's proof of address is often acceptable.
Opening an account online versus in person
Some banks let you start the account opening process online, but most require at least one visit to a branch or a video call with a representative to verify your identity. Online-only banks (like Ally or Fidelity) may let you complete the entire process remotely, but they still need to confirm your identity, usually through a video call or by uploading photos of your ID.
In-person is usually faster and simpler if a branch is near you. You walk in with your parent, show your ID, sign the paperwork, and the account is open. Online takes longer because the bank has to verify your identity remotely, which can take a few days to a week.
What happens when you turn 18
When you turn 18, you have options. If you have a joint account, you can ask the bank to remove your parent as a co-owner and make it your own account. If you have a custodial account, it automatically converts to an account in your name alone. If you have a teen account with restrictions, the restrictions usually lift and it becomes a standard adult account.
You do not have to keep the same account. You can also open a new account at a different bank and transfer your money. Some people do this to get a fresh start or to move to a bank with better features for their needs.
Frequently Asked Questions
Can I open a bank account at 17 without a parent?
Most banks require a parent or guardian to co-sign or be a joint owner. A few banks offer teen accounts without an adult owner, but these have spending limits and transaction caps. Call your bank to ask whether they offer an account for minors without a co-signer.
What if I do not have a state ID?
A passport, military ID, or school ID with a photo usually works. Some banks are flexible; others are not. Call the bank before you visit and ask what photo IDs they accept. If you do not have any of these, you may need to get a state ID first.
Can my parent see my transactions if I have a teen account?
Yes. In a teen account, your parent is listed as a custodian or guardian and can see all transactions. They usually cannot withdraw money, but they have visibility into where your money is going. If you want complete privacy, you will need to wait until you turn 18.
Do I need a Social Security number to open an account?
Yes. Banks use your Social Security number to run a background check and report the account to credit bureaus. If you do not have a Social Security number, you will need to apply for one before opening an account.
What is the difference between a joint account and a custodial account?
In a joint account, both you and your parent are equal owners and can withdraw money. In a custodial account, the money is in your name but your parent has legal control until you reach adulthood. Joint accounts are more common for checking; custodial accounts are more common for savings.