Yes, you can open a joint account with your son at almost any bank
You and your son can open a joint bank account together at any bank or credit union that offers them. Both of you will own the account equally, both can deposit and withdraw money, and both names appear on the account. The bank will run a background check on both account holders — usually through ChexSystems, which tracks banking history — and both of you must be present or complete the bank's remote verification process.
The main thing to understand before you open the account is what happens to the money if one of you dies. Most joint accounts are set up as "joint tenants with rights of survivorship," which means the surviving account holder automatically owns all the money in the account. Some accounts are set up as "tenants in common," where your share goes to your estate instead. You can choose which one you want when you open the account, and this choice matters for estate planning and taxes.
Key Takeaways
- Both you and your son must be present at the bank or complete remote verification, and both must provide identification and a Social Security number.
- Joint accounts give both people full access to all the money — either of you can withdraw everything without the other's permission.
- The account type you choose determines whether the money goes to the survivor or to your estate if one of you dies.
- Joint accounts do not protect money from creditors or lawsuits against either account holder.
- If your son is under 18, most banks require a parent or guardian to co-own the account, which may mean you cannot set it up as a true joint account.
What you need to bring to the bank
Both you and your son will need a government-issued photo ID — a driver's license, passport, or state ID card. You will also each need to provide your Social Security number. The bank will use this to run the background check and to report interest earned on the account to the IRS.
If you are opening the account in person, bring these documents with you. If you are opening it remotely, the bank will ask you to upload images of your ID or verify your identity through a video call. Some banks also ask for a recent utility bill or other proof of address, though this is less common for joint accounts than for new individual accounts.
How joint account access actually works
In a joint account, both account holders have equal legal rights to all the money. This means your son can withdraw the entire balance without asking you first, and you can do the same. There is no way to restrict one person's access or require both signatures on withdrawals — that is not how joint accounts work at consumer banks.
If you want to limit access or require both people to approve withdrawals, you would need a different structure entirely, such as a trust with a trustee and beneficiary, or a power of attorney arrangement. A bank can explain whether those options make sense for your situation, but they are not joint accounts.
Both of you will receive debit cards and online access. Transactions from either person appear on the same statement, so you can both see what the other has done. Some banks let you set up alerts when the balance drops below a certain amount or when a withdrawal over a certain size occurs.
Survivorship versus tenancy in common
When you open the account, the bank will ask you to choose the ownership structure. The default at most banks is "joint tenants with rights of survivorship." This means if your son dies, you automatically own all the money in the account — it does not go through his will or estate. If you die, he automatically owns it all.
The alternative is "tenants in common," where each person owns a specific share (usually 50/50). If one of you dies, your share goes to your estate and is distributed according to your will, not automatically to the other person. Tenancy in common is less common for joint accounts between family members, but it is an option if you want your share to go to someone else.
This choice has tax and estate planning consequences. If you are concerned about how the account will be handled after your death, talk to an estate attorney or tax professional before you open it. The bank can tell you which option is selected, but they cannot advise you on which is right for your situation.
Joint accounts and creditor claims
Money in a joint account is not protected from creditors of either account holder. If your son has unpaid debts and a creditor gets a judgment against him, they may be able to freeze or seize money in the joint account — even the portion you contributed. Similarly, if you have a judgment against you, a creditor can go after the joint account.
This is one of the biggest risks of joint accounts. If you are opening an account mainly to help your son manage money or to make it easier for him to pay bills, consider whether a joint account is the right tool. Some people use a power of attorney instead, which gives your son access to your money without making him a legal owner, and keeps the account in your name only.
If your son is under 18
Most banks do not allow true joint accounts for minors. Instead, they offer custodial accounts or accounts in the parent's name with the minor as an authorized user. In a custodial account, you are the legal owner and the minor has access, but you retain full control. The account is in your name, not jointly owned.
Once your son turns 18, you can convert the account to a true joint account if you both want to, or you can keep it in your name only. Some banks make this conversion automatic; others require you to go back to the branch and update the account type. Ask the bank what happens when he turns 18 before you open the account.
What happens if you want to close the account or remove someone
Either account holder can close a joint account unilaterally — you do not need the other person's permission. If you close it, the bank will typically issue a check for the full balance to both account holders, or you can request that the funds be split. If your son closes it without telling you, the account is closed and you will find out when you try to use it.
You cannot remove someone from a joint account without their consent. If you want to end the joint ownership, you have to close the account and open a new one in your name only. Some banks will let you transfer your portion of the balance to a new individual account, but the joint account itself has to be closed.
Frequently Asked Questions
Will opening a joint account affect my son's credit score?
Opening a joint account does not directly affect either person's credit score. Banks do not report joint account activity to credit bureaus the way they report credit card or loan activity. However, if the account is overdrawn or closed with a negative balance, the bank may report it to ChexSystems, which can affect future banking applications.
Can I open a joint account online, or do we both have to go to the bank?
Many banks allow you to open a joint account online if both account holders complete the verification process remotely — usually through uploading ID and sometimes a video call. Some banks still require at least one person to visit a branch in person. Check with your specific bank about their process before you start.
What if my son has a history of overdrafts or bad banking?
The bank will see his ChexSystems history during the background check, but they will not refuse to open the account based on that alone. However, if he has unpaid overdraft fees or a closed account with a negative balance, some banks may decline. If that happens, you can open an account in your name only and add him as an authorized user instead.
Do I need a lawyer to open a joint account?
No, you do not need a lawyer to open a joint account. The bank will handle the paperwork. However, if you are concerned about estate planning, creditor protection, or what happens if one of you dies, talking to an estate attorney beforehand can help you decide whether a joint account is the right choice for your situation.
Can we set up the account so my son can only spend money I put in?
No. In a joint account, both people have equal access to all the money regardless of who deposited it. If you want to limit his spending or track what he uses, a joint account will not do that. You would need to keep an account in your name only and give him a debit card as an authorized user, or use a power of attorney arrangement.