Yes, 17-year-olds can open a bank account, but the account type depends on the bank
Most banks allow 17-year-olds to open a checking or savings account, but they require a parent or guardian to co-sign or be listed as a joint account holder. You cannot open an account entirely in your own name until you turn 18. The exact rules vary by bank — some allow minors to open accounts online with a parent's digital signature, while others require both of you to visit a branch in person.
The account will be in both your name and your parent's name, which means your parent can see all transactions and has full control over the account. Once you turn 18, you can convert it to an account in your name alone, or your parent can remove themselves as a co-owner.
A few banks and credit unions offer accounts designed specifically for teens, with features like spending limits, parental controls, and no monthly fees. These accounts are often easier to open than standard accounts because the restrictions are built in from the start.
Key Takeaways
- You will need a parent or guardian to co-sign or co-own the account; no bank will open an account for a 17-year-old alone.
- Both you and your parent will need to provide identification and proof of address, and one of you may need to make an initial deposit.
- Teen-specific accounts often come with parental controls, spending caps, and no monthly maintenance fees.
- Once you turn 18, you can convert the joint account to your name alone or open a separate account without a co-owner.
What documents you and your parent need to bring
You will need a government-issued photo ID — a state ID, driver's license, or passport. Your parent will need the same. The bank will also ask for proof of address, which can be a utility bill, lease, mortgage statement, or government document with your parent's name and current address on it.
Some banks ask for a Social Security number for both you and your parent. If you do not have one, you can request one from the Social Security Administration before opening the account, though some banks will accept an Individual Taxpayer Identification Number (ITIN) instead.
A few banks require an initial deposit to open the account — often $25 to $100. Others waive this requirement for minors. Call the bank ahead of time to confirm what they need, because requirements vary by location and by account type.
How to open an account in person versus online
If you open the account in a branch, both you and your parent should go together. The banker will verify your IDs, explain the account terms, and have both of you sign the paperwork. This usually takes 15 to 30 minutes. You will leave with a debit card or a temporary card number, and the account is active the same day.
Many banks now allow you to start the process online. You and your parent will each upload photos of your IDs and proof of address through the bank's website or app. One of you may need to verify your identity by answering security questions or confirming recent transactions on an existing account. The bank then sends documents to sign electronically, and the account opens within one to three business days.
Some banks require at least one of you to visit a branch even if you start online, especially if you do not already have an account with them. Check the bank's website or call their customer service line to confirm the full process before you begin.
Teen-specific accounts and what makes them different
Banks like Greenlight, GoHenry, and Fidelity Youth offer accounts built for teenagers. These accounts come with a debit card, parental controls, and spending limits that your parent can adjust. Some let your parent set rules like "no purchases after 10 p.m." or "no spending at certain stores." Many also send notifications to your parent every time you make a purchase.
These accounts typically have no monthly fees, no minimum balance, and no overdraft fees — which means you cannot spend money you do not have. Some include features like chore tracking or savings goals that help you learn to manage money. The trade-off is that your parent has full visibility and control, and some of these services charge a monthly subscription (usually $5 to $15) for the parental features.
Traditional banks like Chase, Bank of America, and Wells Fargo also offer teen checking accounts. These work like regular checking accounts but may have lower or no monthly fees and come with optional parental controls. They are a good choice if you want a mainstream bank account that you can keep after you turn 18.
What happens when you turn 18
On your 18th birthday, you become a legal adult and can own a bank account in your name alone. You do not have to do anything — the account remains open and active. However, your parent will no longer have the legal right to see your transactions or control the account unless you give them permission.
If you want to remove your parent as a co-owner, you can call the bank or visit a branch with your ID and ask them to change the account to your name alone. This usually takes a few minutes. If your parent wants to stay on the account for any reason, they can, but you can remove them at any time once you are 18.
Some people open a new account at 18 to start fresh. Others keep the same account and simply change the ownership. Either way, you will have full control over the account and all the money in it.
Debit cards, overdraft protection, and spending limits
Most accounts for 17-year-olds come with a debit card, which lets you withdraw cash and make purchases. The card is linked to your account balance, so you can only spend money that is actually in the account — you cannot go into debt with a debit card the way you can with a credit card.
Some banks offer overdraft protection, which means if you try to spend more than you have, the bank will cover the difference and charge you a fee (usually $25 to $35 per overdraft). Teen accounts often turn this off by default to prevent accidental fees. Check your account settings or ask the bank whether overdraft protection is on or off.
If your account is a teen-specific one, your parent can set daily or monthly spending limits on your debit card. For example, they might limit you to $50 per day or $200 per month. These limits help you learn to budget and prevent large unauthorized purchases. You can ask your parent to raise the limit if you need more money for a specific reason.
Building credit as a minor and what you cannot do yet
A bank account does not build your credit score. Credit is built by borrowing money and paying it back on time — through credit cards, loans, or other credit products. At 17, you cannot open a credit card in your name alone, and most banks will not lend you money without a co-signer.
Some credit card companies offer student credit cards for people 18 and older, and some allow a parent to add a teenager as an authorized user on their own credit card. Being an authorized user does not require you to be 18, and it can help build your credit history before you turn 18. Ask your parent whether they are willing to add you to their card.
A bank account is a good first step toward financial independence. It teaches you how to manage money, keep track of spending, and use a debit card responsibly — all skills you will need when you are older and ready to borrow money or build credit.
Frequently Asked Questions
Can I open a bank account without my parent knowing?
No. Banks require a parent or guardian to co-sign the account for anyone under 18. You cannot hide this from your parent because they will receive statements and notifications. If you are concerned about privacy, talk to your parent about what information they need to see and what you can keep private.
What if my parent does not want to co-sign?
Some credit unions allow minors to open accounts with a guardian other than a parent — an older sibling, grandparent, or aunt or uncle. Call local credit unions and ask whether they offer this option. If no one is willing to co-sign, you will need to wait until you turn 18 to open an account on your own.
Can I use my school ID instead of a state ID?
Most banks do not accept school IDs as proof of identity because they do not have an expiration date or security features. You will need a state ID, driver's license, or passport. If you do not have one, apply for a state ID at your local DMV before you go to the bank.
Do I need a Social Security number to open an account?
Most banks require a Social Security number. If you do not have one, you can request one from the Social Security Administration — it usually takes one to two weeks. Some banks accept an ITIN if you are not may be able to access for a Social Security number. Call ahead to confirm what the bank will accept.
Will opening a bank account affect my parent's credit?
No. A joint bank account does not appear on a credit report and does not affect your parent's credit score. Your parent is responsible for the account with the bank, but opening it will not change their credit history or borrowing power.