A 17-year-old can open a bank account, 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 listed as a joint account holder. Some banks let a minor open an account alone if they have a Social Security number and valid ID, but this is less common. The specifics vary by bank — what one institution allows, another may not.

The account will likely have restrictions: you may not be able to overdraft, take out a loan, or open a credit card through that bank until you turn 18. Some banks limit how many withdrawals you can make per month or charge monthly fees for teen accounts. A few banks offer accounts specifically designed for minors with no monthly fee and no minimum balance.

The fastest way to find out what your bank allows is to call the branch directly or visit in person with a parent or guardian. Bring a Social Security number and a government-issued ID (school ID, passport, or state ID). If your family does not have a bank account yet, you can open one together.

Key Takeaways

  • Most banks allow 17-year-olds to open a checking or savings account if a parent or guardian co-signs or is listed as a joint account holder.
  • You will need a Social Security number and a valid government-issued ID (passport, state ID, or school ID in some cases) to open an account.
  • Teen accounts often have restrictions: no overdraft, no credit card access, and sometimes limits on monthly withdrawals or monthly fees.
  • Call your bank or visit a branch to confirm their specific rules for minors, because policies vary widely between institutions.

What documents and ID you need to bring

You will need a Social Security number and a valid form of ID. A passport or state-issued ID card works at any bank. Some banks accept a school ID, but this is less reliable — call ahead to confirm. If you do not have a Social Security number yet, you can request one from the Social Security Administration; the process takes about two weeks.

Your parent or guardian will also need to bring ID and their Social Security number if they are co-signing or opening a joint account. Bring proof of address if the bank asks for it — a utility bill or lease in your parent's name usually works. Some banks ask for this, others do not.

Joint accounts versus accounts in your name alone

A joint account has both your name and your parent's name on it. Your parent can see all transactions, withdraw money, and close the account. You can also do all of these things. Joint accounts are common for 17-year-olds because they give parents visibility into spending and make it easier for them to add money or help if something goes wrong.

An account in your name alone with a parent as a co-signer is different: the parent has signed paperwork saying they take responsibility if you overdraft or break the account rules, but they may not have access to see transactions or withdraw money. Very few banks offer this for minors under 18. Ask your bank which option they support.

If you turn 18 while the account is open, you can usually convert a joint account to one in your name alone, or your parent can remove themselves. Check with your bank about their process for this transition.

Fees and restrictions on teen accounts

Many banks offer no-fee checking accounts for minors, but some charge a monthly maintenance fee of $5 to $15. A few banks waive the fee if you maintain a minimum balance (often $100 to $500) or set up direct deposit. Read the account terms before you open it, or ask the banker to explain the fee structure.

Teen accounts typically do not allow overdrafts, meaning if you try to spend more than you have, the transaction will be declined rather than approved with a fee. Some banks limit you to a certain number of withdrawals per month (often six) or restrict how much you can withdraw in a single day. These limits are designed to protect you from fraud and to teach spending habits.

You will not be able to open a credit card or take out a loan through the bank until you turn 18. Some banks do offer debit cards for teen accounts, which you can use to make purchases and withdraw cash at ATMs.

Banks that make it easy for 17-year-olds

Large national banks like Chase, Bank of America, and Wells Fargo all allow 17-year-olds to open accounts with a parent or guardian present. Each has slightly different rules: Chase requires a parent to be a joint account holder, while Bank of America allows a parent to co-sign without being on the account. Call your local branch to confirm.

Online banks like Ally and Marcus do not typically allow minors to open accounts on their own, but some regional banks and credit unions are more flexible. If you belong to a credit union through your school or your parent's employer, ask whether they offer teen accounts — credit unions often have lower fees and fewer restrictions than big banks.

Some banks market accounts specifically to teens: these often have no monthly fee, no minimum balance, and come with a debit card. Checking the websites of banks in your area or asking your parent's bank what they offer for minors is the fastest way to compare.

What happens when you turn 18

When you turn 18, your account does not automatically change. If it is a joint account, your parent remains a joint account holder unless one of you asks the bank to remove them. You can usually request this in person or online, depending on the bank. If your parent is only a co-signer, they may have no further role once you turn 18.

At 18, you become legally responsible for the account and can open credit products like credit cards or loans through the bank if you meet their other requirements (income, credit history, and so on). You can also change the account type, add overdraft protection, or increase withdrawal limits if the bank offers these options.

Frequently Asked Questions

Can I open a bank account without my parent being on it?

Most banks require a parent or guardian to be a joint account holder or co-signer if you are 17. A very small number of banks allow minors to open accounts alone, but this is rare. Call your bank to ask whether they make exceptions, or ask your parent to co-sign.

What if I do not have a Social Security number yet?

You can request a Social Security number from the Social Security Administration online or by visiting a local office. The process takes about two weeks. Until you have one, you cannot open a bank account at most institutions. Some banks may accept an Individual Taxpayer Identification Number (ITIN) instead, but this is uncommon for minors.

Can I use a school ID to open an account?

Some banks accept a school ID, but many do not because it is not government-issued. A passport or state ID card is more reliable. Call your bank before you go in to confirm what ID they will take, so you do not make a trip for nothing.

Will opening an account affect my credit score?

No. Opening a checking or savings account does not affect your credit score because it is not a credit product. Your credit score only changes when you borrow money (through a credit card, loan, or other debt) and make or miss payments on that debt.

What if my parent wants to remove themselves from the account after I turn 18?

You can ask the bank to remove your parent from a joint account once you turn 18. This usually takes a few days to process. If your parent is only a co-signer, they may have no formal role after you turn 18, but confirm this with your bank to be sure.