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 accounts for minors without a co-signer, though these come with restrictions on withdrawals or spending. The specific rules vary by bank — some require you to be 16, others wait until 18 — so you will need to check with your bank directly.
The account will likely be a custodial account or minor account, which means a parent or guardian has legal control until you turn 18. They can see all transactions, freeze the account, or withdraw money. Once you turn 18, the account typically converts to a standard adult account, though some banks require you to visit in person to complete the conversion.
If your bank will not open an account for you as a minor, a parent can open a joint account with you as an authorized user. You get a debit card and can make deposits and withdrawals, but the parent remains the account owner and can close it or remove you at any time.
Key Takeaways
- Most banks allow 17-year-olds to open checking or savings accounts with a parent or guardian as co-owner or co-signer.
- Some banks offer minor accounts without a co-signer, but these usually limit how much you can withdraw or spend per day.
- A custodial account gives the parent legal control until you turn 18, including the ability to see all transactions and freeze the account.
- When you turn 18, the account converts to a standard adult account, though you may need to visit the bank in person to complete the switch.
- If your bank does not offer minor accounts, a parent can open a joint account and add you as an authorized user.
What banks require to open an account at 17
You will need a government-issued photo ID — usually a state ID, driver's license, or passport. If you do not have one, ask the bank whether a school ID or birth certificate will work as a secondary form of identification. Some banks accept these; others do not.
The parent or guardian co-signing the account will need their own photo ID and Social Security number. The bank will run a background check on both of you through ChexSystems or Early Warning Services, which are databases that track banking history and fraud. If either of you has been flagged for fraud or unpaid overdrafts at another bank, the account may be denied.
You will also need to provide your Social Security number. If you do not have one, you can apply for one at your local Social Security office — the process takes about two weeks. Some banks will let you open the account and add your number later, but most require it upfront.
Differences between custodial accounts and joint accounts
A custodial account is opened in your name, with the parent listed as custodian. The parent has full legal authority over the account until you turn 18 or 21, depending on state law. They can see every transaction, set spending limits, and close the account without your permission. Once you reach the age of majority in your state, the account automatically becomes yours alone.
A joint account is owned by both you and the parent equally. Both names appear on the account, and either of you can withdraw all the money or close it. The parent does not have special custodial powers — they have the same rights as you do. Joint accounts are simpler to set up and do not automatically convert when you turn 18, but they also give the parent less control if that is what you want.
Some banks offer a third option: a minor account with limited access. You own the account, but the bank restricts how much you can withdraw per day or per month. These accounts do not require a co-signer, though a parent may still need to be present at the bank to open one. Restrictions typically lift when you turn 18.
Debit cards, spending limits, and what you can do with the account
Most banks issue a debit card to 17-year-olds with a minor account. You can use it to make purchases, withdraw cash from ATMs, and pay bills online. However, the parent may be able to set daily spending limits or require approval for large transactions. Some banks let parents turn off online purchases or international transactions.
You can deposit money into the account yourself — through direct deposit from a job, by depositing a check, or by transferring money from another account. You can also receive money from other people via bank transfer or peer-to-peer payment apps like Venmo or PayPal, though some of these services have their own age restrictions.
You cannot overdraft the account if the bank does not allow it. Many minor accounts are set to decline transactions if there is not enough money, rather than charging an overdraft fee. This protects you from debt, but it also means your card will be declined if you try to spend more than you have.
Opening an account online versus in person
Some banks let you open a minor account entirely online, while others require you to visit a branch in person. Online accounts are faster — usually approved within a few minutes — but you will still need to provide ID and Social Security information, and the parent will need to verify their identity and sign digital documents.
In-person accounts take longer but may be easier if you do not have a government ID yet. The bank can accept alternative forms of identification and can answer questions about restrictions or fees on the spot. If you are opening a joint account, both you and the parent usually need to be present.
If you open the account online, the bank will mail a debit card to you, which takes five to ten business days. Some banks offer a temporary digital card you can use immediately while you wait for the physical card to arrive.
What happens when you turn 18
The account will convert to a standard adult account automatically on your 18th birthday or shortly after. The parent's custodial authority ends, and you become the sole owner. You will no longer see the parent's name on statements or online banking, and they will no longer be able to see your transactions or control the account.
Some banks require you to visit a branch or log into online banking to confirm the conversion. Others do it automatically and send you a notice in the mail. Check with your bank about their specific process — if you do not complete any required steps, the account may stay in minor status longer than expected.
If the account is a joint account rather than a custodial account, nothing changes automatically when you turn 18. The parent remains a joint owner with full access unless they voluntarily remove themselves. You can ask them to do this, but they are not required to.
Banks that offer accounts for 17-year-olds
Most major banks allow 17-year-olds to open accounts with a parent co-signer. These include Chase, Bank of America, Wells Fargo, Citibank, and US Bank. Each has slightly different rules about minimum balances, fees, and spending limits, so compare their minor account offerings before you choose.
Some online banks and credit unions also offer minor accounts. Ally Bank, Charles Schwab, and Discover allow minors to open accounts, though rules vary. Credit unions often have more flexible policies than large national banks, so if you are a member of one, ask about their minor account options.
A few banks, like Greenlight and Step, specialize in accounts for minors and teens. These apps let you open an account without a co-signer, though a parent must download the app and link their own account to monitor spending. These accounts are designed for teens who want more independence but still need parental oversight.
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 and fintech apps offer minor accounts without a co-signer, but these usually come with spending limits or require a parent to set up a linked account for monitoring. Check with your bank to see what options are available.
What if I do not have a Social Security number yet?
Apply for one at your local Social Security office — the process takes about two weeks. Some banks will let you open the account and provide your number later, but most require it upfront. Call your bank before you visit to confirm their policy.
Can my parent see all my transactions?
Yes, if it is a custodial account. The parent has full visibility and control until you turn 18. If it is a joint account, the parent can see transactions because they are a co-owner, but they do not have special custodial powers. Ask your bank which type of account you are opening.
What happens if I overdraft the account?
Most minor accounts decline transactions if there is not enough money, so you cannot overdraft. If the bank does allow overdrafts, you will owe the overdraft fee — usually $25 to $35 per transaction. Check your account agreement to see whether overdrafts are allowed.
Do I need to convert my account when I turn 18?
Custodial accounts convert automatically, though some banks require you to confirm the conversion online or in person. Joint accounts do not change unless the parent removes themselves. Contact your bank before your 18th birthday to confirm what you need to do.