You cannot open a bank account in someone else's name without their presence and consent
Banks require the account holder to be present in person or to verify their identity remotely during account opening. You cannot walk into a branch, give the bank someone else's name and Social Security number, and leave with an account. The person whose name is on the account must sign the signature card, provide their own ID, and confirm they want the account opened. This is a federal requirement under the Bank Secrecy Act, designed to prevent fraud and money laundering.
What you can do is help someone open an account by accompanying them, filling out forms on their behalf while they watch, or walking them through the online process. You can also open a joint account where both names appear and both people have equal access and responsibility. But the account cannot be solely in their name without their direct participation.
Key Takeaways
- The person whose name is on the account must be present or verify their identity themselves—banks will not open an account based on someone else's request alone.
- You can open a joint account where both your name and another person's name appear, and both of you have full access to the money.
- A power of attorney document lets you manage someone's existing account, but does not let you open a new account in their name without them.
- For minors, a parent or legal guardian can open a custodial account, but the child's Social Security number and consent (or parental authority) are still required.
- If someone is incapacitated and has no power of attorney in place, you will need a court order to manage their finances.
Joint accounts: both names, both access, shared responsibility
A joint account is a bank account registered in two or more names. Both account holders can deposit money, withdraw money, write checks, and make transfers. Both are equally responsible for overdrafts and fees. If you and another adult want to share a bank account—whether for household expenses, a business, or any other reason—you can both go to the bank together, and both will sign the account agreement.
Joint accounts are straightforward when both people are present and willing. The bank will ask for both people's IDs, both Social Security numbers, and both signatures. Each person can use the account independently; neither needs permission from the other to withdraw funds. This makes joint accounts useful for spouses, business partners, or family members managing shared expenses.
The downside is that a joint account holder can drain the account without the other's knowledge or consent. If you are considering a joint account with someone you do not fully trust with all the money, a joint account is not the right tool.
Custodial accounts for minors
A parent or legal guardian can open a custodial account for a minor child. The account is held "in trust for" the child, meaning the money legally belongs to the child, but the parent controls it until the child reaches the age of majority (usually 18 or 21, depending on state and account type). The parent provides the child's Social Security number and the child's name, but the parent is the one who signs the account agreement and makes deposits and withdrawals.
Custodial accounts come in two main forms: UTMA (Uniform Transfers to Minors Act) and UGMA (Uniform Gifts to Minors Act). Both allow a parent to manage the account on behalf of the child. When the child turns 18 or 21, the account transfers to their full control, and the parent's authority ends. The bank will explain the rules for your state when you open the account.
A custodial account is not the same as a regular savings account in the child's name. It is a legal structure that gives the parent temporary control. You still need the child's information and the parent's signature; you cannot open it with only the parent's name.
Power of attorney: managing an existing account, not opening a new one
A power of attorney is a legal document that gives you authority to act on someone else's behalf. If someone grants you power of attorney, you can manage their existing bank accounts, pay their bills, and handle their finances. However, a power of attorney does not let you open a new account in their name. The account must already exist, and the bank must have a copy of the power of attorney document on file.
To use a power of attorney at a bank, you will need to bring the original or certified copy of the document to the bank, along with your own ID. The bank will review it, make a copy for their records, and add you to the account as an authorized agent. From that point forward, you can access the account and make transactions.
A power of attorney is useful when someone is ill, elderly, or otherwise unable to manage their own finances but is still alive and the account already exists. It does not work for opening new accounts or for situations where no account exists yet.
Guardianship and conservatorship: court-ordered authority
If someone is incapacitated—due to illness, injury, dementia, or other reasons—and has not signed a power of attorney, you may need to go to court to gain authority over their finances. A guardianship or conservatorship is a court order that appoints you as the legal representative of someone who cannot manage their own affairs. The specific name and rules vary by state; some states use "guardian," others use "conservator," and some use both terms for different roles.
To obtain guardianship or conservatorship, you file a petition with the probate or family court in the person's home state. You will need to show evidence that the person is incapacitated and that appointing you is in their best interest. The court may require a doctor's evaluation, a hearing, and notice to family members. Once the court grants the order, you can open accounts, manage existing accounts, and make financial decisions on their behalf.
This process takes weeks or months and involves court fees and legal paperwork. It is the formal route when someone has no power of attorney and cannot consent to financial decisions themselves.
What happens if you try to open an account without the person's consent
If you attempt to open a bank account using someone else's name, Social Security number, or identity without their knowledge or permission, you are committing identity theft and fraud. Banks have systems to detect this: they verify identity through multiple channels, cross-check Social Security numbers against government records, and flag suspicious applications. If the person whose identity you used discovers the account, they can report it to the bank and to law enforcement.
The consequences include criminal charges (identity theft is a federal crime), civil liability, and a permanent mark on your record. The person whose identity was stolen can also place a fraud alert or credit freeze on their credit report, which will block future accounts opened in their name. If you are trying to help someone manage money, there are legal ways to do it—joint accounts, power of attorney, or guardianship. Fraud is not one of them.
Helping someone open their own account
If someone wants to open a bank account but needs help, you can assist them by going to the bank together, helping them fill out forms, or walking them through an online application. The person must provide their own ID, Social Security number, and signature. You can be present, answer questions on their behalf if they ask you to, and help them understand the terms. But the account must be in their name, and they must be the one making the decision to open it.
For someone who is homebound, elderly, or has mobility issues, many banks offer remote account opening. They can video-call the bank, show their ID to a camera, and sign electronically. You can sit with them during the call and help them navigate the process, but they are the one on the call and the one consenting to the account.
Frequently Asked Questions
Can I open a bank account for my elderly parent if they are still mentally capable?
No. Even if your parent is elderly, they must open the account themselves or authorize you to do so through a power of attorney. If they are capable of understanding what they are signing, the bank will require them to be present or to verify their identity remotely. If they are incapacitated, you will need guardianship or conservatorship from a court.
What if I have a power of attorney but the bank says I cannot open a new account?
A power of attorney gives you authority over existing accounts, not the power to create new ones in the other person's name. Some banks may allow you to open an account as a co-owner or agent, but the person whose name is on the account must still verify their identity. Ask the bank what documents they need and whether the account holder can verify remotely.
Can I open a joint account if the other person is out of the country?
Most banks require both account holders to be present in person or to verify their identity through a video call. If the other person is out of the country, ask the bank whether they offer remote account opening. Some do; others require in-person visits. You cannot open the account without their participation.
What is the difference between a joint account and an account with power of attorney?
A joint account has two equal owners who both have full access and control. A power of attorney makes you an agent for someone else's account—you can manage it, but they remain the owner and can revoke your authority at any time. Joint accounts are permanent unless both owners agree to close them; power of attorney ends when the person dies or revokes it.
Can I open a savings account for my child without them being present?
Yes, if you are the parent or legal guardian. You can open a custodial account using your child's name and Social Security number. You do not need the child to be present or to sign anything. However, the account is held in trust for the child, and the money legally belongs to them, even though you control it until they reach adulthood.