Yes, you can open a bank account at 17, but with restrictions
Most banks will let you open a checking or savings account at 17, but you cannot do it alone. You will need a parent or legal guardian to co-sign or be listed as a co-owner on the account. The bank treats you as a minor, which means the adult on the account has legal access to your money and can make decisions about it until you turn 18.
Some banks have accounts designed specifically for teens—often called youth accounts or student accounts—that come with limits on spending, transfers, or overdrafts. These accounts are meant to let you learn how banking works while your parent retains control. Other banks simply add you as an authorized user on an existing adult account, which gives you a debit card and online access but keeps the account in the adult's name.
A few banks and credit unions will let a 17-year-old open an account without a co-signer if you have a job and can show proof of income, but this is uncommon. Call ahead to ask; do not assume any bank will do this.
Key Takeaways
- You can open a bank account at 17 in most places, but a parent or guardian must co-sign or be listed as a co-owner.
- Youth accounts often come with spending limits, transfer caps, or overdraft restrictions designed to teach financial responsibility.
- You will need a government-issued ID (state ID, passport, or learner's permit) and proof of your Social Security number to open an account.
- Once you turn 18, you can remove the adult from the account or open a separate account in your name alone.
- Some banks require a minimum deposit to open an account; others do not, so compare options before you visit.
What documents you need to bring
Bring a government-issued photo ID—a state ID, passport, or learner's permit all work. You will also need to provide your Social Security number. The bank will verify this information against their fraud-detection system.
Your parent or guardian will need their own ID and Social Security number as well. Some banks ask for proof of address (a utility bill or lease in the adult's name) or proof of income, though this is less common for a youth account. Call the bank before you go and ask what documents they want; different branches sometimes have different requirements.
If you have a job, bring a recent pay stub or a letter from your employer. This can help if the bank is hesitant about opening an account for a minor, though it is not always required.
How much money you can access and move
Youth accounts often cap how much you can withdraw per day, transfer per month, or spend per transaction. These limits vary widely by bank. One bank might let you withdraw $500 per day but limit transfers to $1,000 per month; another might have no withdrawal limit but cap debit card spending at $2,000 per day.
The point of these limits is to prevent large losses if your debit card is stolen or your account is compromised. They also prevent you from draining the account on impulse. Your parent can usually adjust or remove these limits through their own online banking, or by calling the bank.
Overdraft protection—the ability to spend more than you have and pay a fee—is often turned off on youth accounts. This means your card will simply decline if you try to spend money you do not have, rather than charging you an overdraft fee. Check with your bank about whether this is the default.
What happens when you turn 18
On your 18th birthday, the account does not automatically change. You will need to contact the bank and ask them to convert it to an adult account in your name alone, or to remove the co-owner. Some banks do this automatically after you turn 18; others require you to visit a branch or call.
If the adult on the account does not want to be removed, or if you want to keep them as a co-owner for safety reasons, you can do that too. The choice is yours once you are 18. However, if you want the adult completely off the account, you may need to open a new account and transfer your money, because some banks do not allow you to remove a co-owner—only the co-owner can remove themselves.
After you turn 18, you can also open a separate account at a different bank if you want a fresh start or better terms. There is no penalty for closing the youth account.
Banks and credit unions that offer teen accounts
Major banks like Chase, Bank of America, Wells Fargo, and Citibank all offer youth checking accounts. Credit unions often have teen accounts too, and sometimes with fewer fees or lower minimum balances. Online banks like Ally and Chime also have options for minors, though the rules vary.
Each institution sets its own rules about age, co-signers, and account features. Some require a minimum deposit (often $25 to $100); others do not. Some charge monthly fees; others waive fees for youth accounts. Visit the bank's website or call their customer service line to compare before you decide.
If you are a member of a credit union through your parents or your school, start there—credit unions tend to have simpler processes and lower fees than large banks.
What you cannot do at 17 without an adult
You cannot take out a loan, open a credit card, or sign a binding contract in your own name. If you want to build credit before you turn 18, you can ask your parent to add you as an authorized user on one of their credit cards. This means you get a card with your name on it, but the account is in their name and they are responsible for the bill. Your payment history will show up on your credit report.
You also cannot open an investment account, set up a wire transfer without the co-owner's permission, or change the account's terms without the adult's approval. These restrictions exist because the law treats minors as unable to enter into certain financial agreements on their own.
Why a parent might refuse or delay
Some parents want to wait until you turn 18 to open an account, or they prefer to keep you on their account rather than create a separate one. This is their choice, and there is no legal requirement to open a youth account. If your parent is hesitant, ask them what their concerns are—it might be about fees, about monitoring your spending, or about the time it takes to set up.
If you need a bank account for a job (to receive direct deposit) and your parent will not help you open one, talk to your employer. Some employers can work with you on payment methods, or your parent might be more willing to help if they understand why you need it.
Frequently Asked Questions
Can I open a bank account at 17 without telling my parents?
No. You will need a parent or legal guardian to co-sign or be on the account with you. The bank will not open an account for a minor without an adult present and involved. If your parents do not know you want an account, you will need to tell them.
What if my parent and I disagree about how to use the account?
The adult on the account has legal control until you turn 18. If they freeze the account, remove funds, or change the terms, you cannot override them. This is why it matters who you choose as your co-signer—pick someone you trust. Once you turn 18, you can remove them and take full control.
Can I get a debit card at 17?
Yes. Most youth accounts come with a debit card. You can use it to make purchases and withdraw cash at ATMs, subject to any daily or monthly limits the bank has set. The card will have your name on it, but the account is still in the adult's name.
Do I need a job to open a bank account at 17?
No. You can open a youth account without a job. A job can help if a bank is hesitant, but most banks will open an account for a 17-year-old with a co-signer regardless of employment status.
Will opening a bank account affect my credit score?
No. Opening a checking or savings account does not show up on your credit report and does not affect your credit score. Only credit products like loans and credit cards affect your credit. However, if you are added as an authorized user on a parent's credit card, that can help build your credit history.