You cannot open a savings account in someone else's name without their permission and involvement
Banks require the account holder to be present, provide identification, and sign documents themselves. You cannot walk into a bank and open an account for an adult who is not there. If you try, the bank will refuse. The person whose name goes on the account must participate in the opening process — they must verify their identity, agree to the terms, and authorize the account in writing.
The only exception is for minors, where a parent or legal guardian can open a custodial account on behalf of a child. Even then, the account belongs to the child, not the adult, and the adult acts as a custodian with limited control. The rules and restrictions differ significantly depending on whether you are opening an account for a child or trying to add someone else to your own account.
Key Takeaways
- An adult must be present and provide identification to open an account in their own name, no matter who initiates the process.
- A parent or legal guardian can open a custodial savings account for a minor child, but the child owns the money and the account transfers to the child at age of majority.
- You can add another adult to your existing account as a joint owner, but both of you must sign the paperwork and provide ID.
- If someone lacks mental capacity, a court-appointed conservator or power of attorney holder may manage accounts, but this requires legal documentation.
- Banks verify identity through government-issued ID and may require the account holder to appear in person or complete video verification.
Opening a custodial account for a minor child
A parent, legal guardian, or grandparent can open a savings account for a child under the age of majority in their state (usually 18 or 21). This is called a custodial account, and the adult acts as custodian — managing the money on behalf of the child until the child reaches the age when the account automatically transfers to them.
To open a custodial account, you will need the child's Social Security number, proof of the child's identity (usually a birth certificate), and your own government-issued ID. Some banks require the child to be present; others do not. The account is titled in the child's name, not yours, so the child owns the money from the start. You cannot use the money for your own expenses — it must be spent for the child's benefit.
When the child reaches the age of majority in your state, the account automatically becomes theirs to control. You lose the ability to make withdrawals or decisions about the account. The age varies by state and sometimes by bank, so confirm this with your bank before opening the account.
Adding another adult to your existing account as a joint owner
If you want to give someone else access to your savings account, you can add them as a joint owner. Both of you will have equal rights to the money, and either of you can withdraw funds or close the account. This is different from opening an account for someone else — you are modifying your own account to include them.
To add a joint owner, both of you must go to the bank together with government-issued ID. You will sign an agreement that makes the other person a co-owner with full access. Some banks allow you to add a joint owner online if you are already a customer, but most require both people to be present or to complete video verification. The other person does not need to be a customer of that bank beforehand.
Be aware that a joint owner has complete access to the money. They can withdraw everything without your permission. If you want to give someone limited access — such as the ability to make deposits but not withdrawals — you may need to set up a power of attorney instead, which requires legal documents beyond what the bank provides.
When someone lacks the mental capacity to open an account
If an adult cannot open an account because they lack mental capacity due to illness, injury, or age-related decline, a power of attorney or conservator may be able to manage their finances. These are legal arrangements, not something the bank can set up on its own.
A power of attorney is a document the person signs while they still have capacity, naming someone to handle their finances if they later cannot. A conservatorship is a court order that appoints someone to manage finances for a person who has lost capacity. To use either arrangement at a bank, you will need to bring the original legal document (or a certified copy) to the bank. The bank will review it and may require additional paperwork.
These arrangements take time to set up and may require a lawyer. If the person is in immediate need of banking services and no power of attorney exists, you may need to petition a court for a conservatorship, which can take weeks or months.
What banks require to verify identity
Banks must verify the identity of anyone whose name goes on an account. This is a federal requirement under anti-money-laundering law. The person must provide a government-issued photo ID — a driver's license, passport, state ID card, or military ID. Some banks also accept a tribal ID or passport card.
The bank will check the ID against their system to confirm it is real and matches the person in front of them. For online accounts, the bank may use video verification where you show your ID to a camera and answer security questions. Some banks require an in-person visit to a branch, especially for large deposits or accounts opened by someone other than the account holder (such as a custodial account).
If the person does not have a government-issued ID, the bank may accept alternative documents such as a birth certificate, Social Security card, or utility bill, but this varies by bank and state. Call your bank to ask what documents they will accept before you visit.
Opening an account online versus in person
Many banks allow you to open a savings account online without visiting a branch. However, the person whose name goes on the account must still complete the process themselves — they must enter their information, verify their identity (usually through video or by uploading a photo of their ID), and agree to the terms electronically.
If you are opening a custodial account for a child, some banks allow you to do this online as the parent or guardian, but others require you to visit a branch with the child's birth certificate. If you are adding a joint owner to your account, most banks require both of you to be present or to complete video verification together.
Online opening is faster than in-person, but it does not eliminate the requirement that the account holder participate. The person must have access to email, a phone for verification, and the ability to provide ID documentation.
What happens if you try to open an account without the person's knowledge
If you attempt to open a savings account in someone else's name without their knowledge or consent, the bank will stop you. Banks verify identity in real time and will not proceed if the person is not present (or does not complete video verification themselves) or if the ID does not match the name on the account application.
Attempting to open an account in someone else's name without permission is identity theft and is a crime. It can result in criminal charges, civil liability, and a restraining order. Even if you have a legitimate reason to manage someone's finances — such as being their caregiver — you must use legal channels like power of attorney or conservatorship, not deception.
If you suspect someone has opened an account in your name without permission, contact the bank immediately and file a report with the Federal Trade Commission at IdentityTheft.gov.
Frequently Asked Questions
Can a grandparent open a savings account for a grandchild?
Yes, a grandparent can open a custodial account for a grandchild if they are the legal guardian or have the parent's permission. You will need the child's Social Security number and birth certificate. Some banks require the child to be present; others do not. The account belongs to the child, not the grandparent, and transfers to the child at the age of majority.
What is the difference between a joint account and a custodial account?
A joint account is owned equally by two adults, and both have full access to the money. A custodial account is owned by a minor child, and an adult manages it on the child's behalf until the child reaches adulthood. In a joint account, both owners can withdraw everything. In a custodial account, the child owns the money from the start, and the adult cannot use it for themselves.
Can I open a savings account for my spouse without them being there?
No. Your spouse must be present (in person or via video verification) to provide their ID and sign the account agreement. You cannot open an account in their name without their participation, even if you are married.
What if the person I want to add to my account lives far away?
Many banks allow video verification, where the person can show their ID to a camera and answer security questions from home. Call your bank to ask if they offer this option. If not, you may need to visit a branch together or have them open their own account at a bank near them and then transfer money between accounts.
Do I need a lawyer to set up a power of attorney for someone's finances?
You do not need a lawyer, but it is often helpful. Some states provide power of attorney forms online that you can fill out yourself. However, the document must be signed and notarized, and mistakes can make it invalid. A lawyer can ensure the document is correct and will be accepted by banks. Costs vary, but a simple power of attorney typically runs $200 to $500.