What you can do at 17 depends on the bank and the account type
Most banks will not let you open an account alone at 17. You will need a parent or guardian to co-sign or be a joint owner. Some banks have teen accounts that let you open one with a parent present, but you cannot do it online or by yourself. A few banks and credit unions offer accounts for minors without a parent on the account, but these are less common and come with spending limits.
The rules vary by bank and by state. Chase, Bank of America, Wells Fargo, and most national banks require a parent or guardian to be present and sign. Smaller banks and credit unions sometimes have different policies. Your best move is to call the bank you want to use and ask what they need from a 17-year-old.
If you cannot get a parent to co-sign, a few alternatives exist: some banks let you wait until 18 to open an account on your own, some credit unions have youth accounts with different rules, and some online banks have lower barriers — though you should still check their age policy before you try.
Key Takeaways
- Most major banks require a parent or guardian to be present and sign documents to open an account for a 17-year-old.
- Teen accounts typically come with limits on daily withdrawals, transfers, or spending, and the parent can see all transactions.
- Credit unions sometimes have more flexible rules than national banks, so calling your local credit union is worth doing.
- If you turn 18 before you need the account, waiting a few months lets you open one without a parent's involvement.
- Online banks may have different age policies, but most still require parental consent for minors under 18.
What a teen account looks like and what limits come with it
A teen account is usually a checking or savings account in your name, but with a parent or guardian as a co-owner or authorized signer. You get a debit card and can make purchases and withdrawals, but the parent can see every transaction and may have the ability to freeze the card or close the account.
Spending limits are common. Some banks cap daily ATM withdrawals at $200 or $300. Others limit how many transfers you can make per month, or block certain types of transactions like online gambling or international purchases. These limits are set by the bank, not by your parent, though some banks let parents adjust them within the bank's range.
Interest rates on savings accounts for teens are usually the same as for adults, but some banks offer slightly higher rates to encourage saving. Checking accounts typically pay no interest. Monthly fees are rare on teen accounts, but some banks charge a fee if you fall below a minimum balance — usually $25 to $100.
How to open a teen account with a parent present
Call or visit the bank in person with your parent or guardian. Bring a government-issued ID (a state ID, passport, or school ID may work, depending on the bank) and proof of address, such as a utility bill or lease in your parent's name. Your parent will need their ID and proof of address as well.
At the branch, a banker will explain the account type, the limits, and what the parent can see. Your parent will sign the account agreement. You may also sign, depending on the bank's rules. The banker will issue a debit card on the spot or mail it to you within a few business days.
Some banks let you start the process online and finish it in the branch. Others require the whole thing to happen in person. A few banks have started letting parents open teen accounts online with a video call, but this is still uncommon. Ask the bank whether you can do any of it online before you go in.
Credit unions and smaller banks sometimes have different rules
Credit unions are member-owned, not shareholder-owned, and some have more flexibility on age requirements. A few credit unions let you open an account at 16 or 17 without a parent present if you are a member of the credit union's community (for example, if your parent works for a certain employer or lives in a certain county). Others still require a parent but may have fewer limits on spending or transfers.
Community banks and regional banks also vary. Some have teen accounts with higher spending limits than national chains. Others do not offer teen accounts at all and require you to wait until 18. Calling ahead saves a trip — ask whether they have an account for 17-year-olds and what documents you need.
To find a credit union near you, use the CO-OP Network locator or the Alliant Credit Union finder. If you are not sure whether you are a member of a particular credit union, ask your parent or call the credit union directly.
What happens if you turn 18 before you open an account
If you can wait a few months until you turn 18, you can open an account on your own without a parent's signature. You will still need a government-issued ID and proof of address. You can do this in person at a branch or, with most banks, online.
Opening an account at 18 means no spending limits, no parent monitoring your transactions, and full control over the account. If you do not need the account urgently, this is often the simpler path. You avoid the conversation with your parent and the restrictions that come with a teen account.
If you do need an account before 18 — for direct deposit of a paycheck, for example — a teen account is usually the fastest option. Some employers will let you wait until the account is set up, so ask your employer whether they have flexibility on timing.
Online banks and what their age policies are
Online banks like Ally, Charles Schwab, and Discover do not have physical branches, so they cannot verify your identity in person. Most require you to be 18 to open an account, because they rely on electronic verification and cannot easily confirm a parent's presence or signature.
A few online banks have started offering teen accounts, but they are rare. If an online bank does offer one, you will usually need to open it with a parent's help — either by having the parent open the account and adding you as an authorized user, or by having both of you sign electronically. Check the bank's website or call their customer service line to ask about their policy for 17-year-olds.
If you are set on using an online bank, waiting until 18 is usually the only option. If you need an account now, a brick-and-mortar bank or credit union is your better choice.
What to do if your parent will not co-sign
If your parent or guardian refuses to co-sign, you have limited options before 18. You cannot open an account on your own at most banks. You could ask another adult — a grandparent, aunt, or uncle — to co-sign instead, though the bank may require that person to be a legal guardian or have power of attorney.
Some credit unions have looser rules and may let you open an account with a non-parent adult, but this varies widely. Call credit unions in your area and explain your situation. Be honest about why you need the account — for a job, for saving, for managing money — because some credit unions have programs for young people in difficult situations.
If you truly cannot find an adult to help, waiting until 18 is the safest path. At 18, you can open an account on your own, and no one can prevent you from doing so.
Frequently Asked Questions
Can I use a school ID to open a bank account at 17?
Most banks require a government-issued ID, which means a state ID, driver's license, or passport. A school ID alone usually does not work. However, some banks will accept a school ID as a second form of identification if you also bring a birth certificate or Social Security card. Call the bank first to ask what they will take.
Will opening a teen account hurt my credit score?
No. A checking or savings account does not appear on your credit report and does not affect your credit score. Credit scores are based on borrowed money — credit cards, loans, and payment history. A bank account is just a place to store money, so it has no impact on your credit.
Can I get a debit card at 17 without a parent's account?
Not from a bank. You need an account to get a debit card, and you cannot open an account at 17 without a parent or guardian co-signing at most banks. Some prepaid debit card companies let you load money without a bank account, but these are not the same as a real bank account and come with higher fees.
What if I need direct deposit for my paycheck but I do not have a bank account?
Ask your employer whether they can delay direct deposit until you turn 18, or whether they will accept a check or cash payment in the meantime. If they will not, open a teen account with a parent. Most employers do not care whether the account is in your name alone or shared with a parent — they just need a valid routing number and account number.
Can I close a teen account without my parent's permission?
This depends on the bank and how the account is set up. If your parent is a co-owner, they may have to sign off on closing it. If your parent is only an authorized signer, you may be able to close it on your own. Call the bank and ask what their policy is before you try to close the account.