Documents and identification you'll bring to the bank
You and the other account holder will each need a government-issued photo ID — a driver's license, passport, or state ID card. The bank will verify both identities before opening the account. Bring the original documents, not copies; banks will not accept photocopies for the initial verification.
You'll also need proof of your current address for each person on the account. This can be a utility bill, lease agreement, mortgage statement, or government mail dated within the last 60 days. Some banks accept a recent bank statement or insurance document instead. Call ahead to ask what your specific bank takes, because the rules vary by institution.
If you're opening the account in person, bring a small amount of money to fund it — usually $25 to $100, depending on the bank. Some banks waive this requirement if you set up direct deposit at the same time.
Key Takeaways
- Both account holders must bring a government-issued photo ID and proof of current address to the bank.
- You'll decide during the opening process whether the account requires both signatures to withdraw money or just one person's signature.
- The bank will run a ChexSystems check on both of you, which looks at your history with other banks but does not affect your credit score.
- Joint accounts created at the same time usually take 15 minutes to an hour to open if you're in person, or one to three business days if you open online.
- You can name a beneficiary on the account so the money passes to that person if one account holder dies, without going through probate.
How to decide who can withdraw money
When you open the account, the bank will ask whether it's an "and" account or an "or" account. An "and" account requires both owners to sign or authorize any withdrawal. An "or" account lets either owner withdraw money without the other's permission.
Most couples and family members choose "or" accounts because they're simpler to use day-to-day — either person can pay a bill or get cash without coordinating. "And" accounts are rare and usually only used when both parties want to prevent either one from moving money without the other knowing. Be aware that "and" accounts can create problems if one person becomes ill or dies, because the surviving owner may not be able to access the money without a court order.
You can change this setting later, but you'll both need to go to the bank or call together to make the change. Some banks allow one person to change it online; others do not. Ask the bank what their process is before you leave.
What the bank checks before opening your account
The bank will run a ChexSystems report on both of you. This is a banking history check that shows whether you've had accounts closed due to overdrafts, fraud, or other problems at other banks. A negative ChexSystems history can prevent you from opening an account, but it does not affect your credit score and is separate from a credit check.
If either of you has been reported to ChexSystems, you may be denied. Some banks offer second-chance accounts for people with ChexSystems issues, but they often come with higher fees or lower withdrawal limits. Ask the bank whether they offer this option if you're concerned about your history.
The bank will also verify your Social Security number and check whether you're on the Office of the Comptroller of the Currency's list of people excluded from banking. This is rare, but it can happen if someone has committed banking fraud or has an outstanding judgment against them.
Opening the account in person versus online
In-person opening is faster if both of you can go to the bank at the same time. You'll complete the paperwork together, show your IDs, and the account is usually ready to use within an hour. You'll get a debit card on the spot or it will arrive in the mail within 7 to 10 business days.
Online opening is slower but more convenient. You and the other account holder can each complete your portion of the application from home. The bank will send you a secure link to upload photos of your ID and proof of address. Processing takes one to three business days, and your debit card arrives by mail afterward. Some banks require a video call with both account holders to verify your identities before they'll approve an online application.
A few banks require both people to be present in person, even if you'd prefer to open online. Check your bank's website or call before you plan your visit.
Setting up online and mobile banking access
Once the account is open, you'll each set up your own login to access it online or through the bank's mobile app. You can use the same email address or different ones — the bank will let you choose. Each person's login gives full access to the account balance and transaction history, regardless of whether the account is "and" or "or".
You can set up alerts together so that both of you get notified when the balance drops below a certain amount, when a large withdrawal happens, or when a check clears. This helps prevent overdrafts and keeps both people informed about spending.
If one person loses access to their login, the other can still use the account. You don't need both people present to reset a password or change contact information, though some banks ask you to verify your identity by phone before making changes.
Fees and minimum balance requirements
Joint accounts have the same fee structure as individual accounts at the same bank. Most banks charge a monthly maintenance fee ($5 to $15) unless you meet certain conditions — direct deposit, a minimum balance, or a certain number of debit card transactions per month. Some banks waive fees for accounts with direct deposit, regardless of balance.
Minimum balance requirements vary widely. Some banks require $500 to $1,000 to avoid a monthly fee; others have no minimum. If the balance drops below the minimum, you'll be charged a fee each month until it goes back up. Ask about the fee structure before you open the account so you know what to expect.
Overdraft fees apply to joint accounts the same way they do to individual accounts. If the account goes negative, the bank will charge a fee (usually $25 to $35 per overdraft) and may decline transactions. Some banks offer overdraft protection, which links the account to a savings account or credit line to cover the shortfall automatically.
Adding or removing an account holder later
You can add another person to an existing joint account, but both current account holders must go to the bank together or authorize the change in writing. The new person will need to provide their ID and proof of address, and the bank will run a ChexSystems check on them.
Removing someone from a joint account is more complicated. If both people agree, you can usually close the account and open a new one with just the remaining person. If only one person wants to remove the other, you'll need to close the account and split the money — the bank will not remove one person's name without their consent or a court order.
If one account holder dies, the surviving owner can usually continue using the account without any change. The bank may ask for a death certificate, but the account remains open and accessible. If you named a beneficiary on the account, that person can claim the money after the account holder's death without probate.
Frequently Asked Questions
Can we open a joint account if we're not married?
Yes. Banks do not require marriage or any legal relationship. You can open a joint account with a family member, business partner, friend, or anyone else. You'll both need to be present (in person or online) and provide ID and proof of address.
What happens to a joint account if one person dies?
The surviving account holder can continue using the account. If you named a beneficiary on the account, that person can claim the remaining balance after the account holder's death. Without a named beneficiary, the money becomes part of the deceased person's estate and may go through probate.
Do joint accounts affect my credit score?
No. Opening a joint account does not appear on your credit report and does not change your credit score. The bank checks ChexSystems (banking history) and verifies your identity, but does not run a credit check unless you're also opening a line of credit.
Can I have a joint account with someone who has bad credit?
Yes. Credit score does not matter for a joint bank account. The bank only checks ChexSystems history and identity. If the other person has been reported to ChexSystems for banking problems, the bank may deny the account, but their credit score is irrelevant.
How long does it take to open a joint account?
In person, usually 15 minutes to an hour. Online, one to three business days. Some banks require a video call with both account holders, which can add a day or two. Your debit card arrives by mail within 7 to 10 business days after the account opens.