Yes, but with a parent or guardian as a joint account holder
A 17-year-old cannot open a bank account alone. Every bank and credit union requires a parent or legal guardian to co-sign and appear on the account as a joint owner. The account belongs to both of you until the teenager turns 18, at which point they can take full control or the parent can step away.
Some banks allow the minor to be the primary account holder with the parent as a secondary signer, while others list both names equally. Either way, both people can access the account, see all transactions, and withdraw money. The parent's presence is a legal requirement, not optional.
A few banks and credit unions offer accounts specifically designed for teenagers, with features like spending limits or parental controls built in. These accounts still require a parent to open them, but they give the teenager more independence than a standard joint account.
Key Takeaways
- A 17-year-old must have a parent or legal guardian on the account as a co-signer; no bank will open an account for a minor alone.
- Both the teenager and parent can access the account, see transactions, and withdraw money once the account is open.
- Some banks offer teen-specific accounts with spending limits or parental controls, but a parent must still open them.
- The teenager can take full control of the account at 18, or the parent can remove themselves if the bank allows it.
- You will need the teenager's Social Security number, proof of identity, and proof of address for both the minor and the parent.
What documents you need to bring
Both the 17-year-old and the parent need to show up in person at most banks. Bring the teenager's Social Security number (or Individual Taxpayer Identification Number if they do not have one), a government-issued ID like a state ID or passport, and proof of address such as a utility bill or lease.
The parent needs their own Social Security number, government-issued ID, and proof of address. Some banks also ask for a second form of ID or a phone number to verify. Call the bank ahead of time to ask what they specifically require—requirements vary by institution.
If the teenager does not have a state ID yet, a school ID or birth certificate may work as a secondary form of identification, depending on the bank's policy. Ask when you call.
Teen-specific accounts versus standard joint accounts
A teen account is designed for minors and often includes features like daily spending limits, restrictions on certain types of transactions, or alerts when money is withdrawn. The parent can usually adjust these limits or turn them off. Examples include accounts from banks like Ally, Charles Schwab, and some credit unions.
A standard joint account has no built-in restrictions. Both the teenager and parent have full access to all the money and can make any transaction. This is simpler but offers less control if you want to limit how much the teenager can spend.
Teen accounts typically have no monthly fees and no minimum balance requirement. Standard joint accounts may have fees depending on the bank. Compare what each bank offers before you go in.
What happens at age 18
When the teenager turns 18, they become a legal adult. At that point, they can take full control of the account without the parent's involvement. Some banks automatically remove the parent from the account; others require both people to go to the bank together to make the change.
The teenager can also open their own separate account at 18 and transfer the money over if they want a fresh start. They can keep the joint account open if they prefer, but the parent will no longer have legal authority over it.
If the parent wants to stay on the account after the teenager turns 18, both people can agree to keep it as a joint account. This is useful if the parent is helping manage finances or if they share expenses.
Where to open an account as a 17-year-old
Most traditional banks (Bank of America, Wells Fargo, Chase, Citibank) allow minors to open accounts with a parent present. Credit unions often have the same policy and sometimes offer lower fees. Online banks like Ally, Charles Schwab, and Fidelity have teen account options, though you may still need to visit a branch or complete the process by mail with both signatures.
Call ahead or check the bank's website to confirm they offer accounts for minors and what their specific requirements are. Some banks have a minimum age (often 13 or 14) but will accept anyone older than that.
If you want a teen-specific account with parental controls, search for "teen checking account" or "minor account" at banks in your area. Not every bank offers these, so you may need to compare a few options.
Frequently Asked Questions
Can a 17-year-old open a bank account without a parent?
No. Every bank requires a parent or legal guardian to co-sign and appear on the account. This is a legal requirement, not a bank policy choice. If a parent is unavailable, a legal guardian can sign instead.
What if the parent does not want to be on the account?
The parent must be on the account for it to open. However, once the teenager turns 18, the parent can request to be removed. Until then, the parent's involvement is mandatory.
Can a 17-year-old have their own debit card?
Yes. The debit card will be issued in the teenager's name, even though the parent is also on the account. The teenager can use it independently, but the parent can still see all transactions online.
Do I need to go to the bank in person, or can we do it online?
Most banks require at least one in-person visit to open an account for a minor. Some online banks may allow you to complete the process by mail with both signatures, but call first to confirm. A few banks let you start online and finish in a branch.
What if the teenager has no Social Security number?
If they have an Individual Taxpayer Identification Number (ITIN) instead, most banks will accept it. If they have neither, ask the bank whether they can open an account without one—policies vary. Some banks require an SSN or ITIN; others do not.