Yes, you can open a bank account at 17, but almost every bank will require a parent or legal guardian to be on the account with you as a co-signer or joint owner. That’s the core of how to open a bank account at 17: pick a bank, gather ID for both of you, and sign the paperwork together. The rest is detail, and the details are worth understanding before you sign.
Why a Parent Has to Be on the Account
Banks treat account agreements as contracts, and contract law in most states treats people under 18 as unable to be fully bound by them. A minor can walk away from a contract in ways an adult cannot, which creates risk for the bank. To manage that risk, banks require a parent, legal guardian, or sometimes another trusted adult over 18 to co-sign or co-own the account. That adult stays on the account until you reach the age of majority, which is 18 in most states.
The co-signer is not a formality. The adult shares full legal responsibility for what happens in the account, including overdraft charges, returned-payment fees, and negative balances. If the account goes into the red, the bank can pursue the co-signer for repayment under the deposit agreement. Talk this through with your parent before you apply so you both understand what you’re signing.
What Your Co-Owner Can See and Do
A co-owner on a joint account generally has the same access to the money that you do. In most circumstances, either person on a joint checking account can withdraw funds and even close the account without the other person’s agreement.1Consumer Financial Protection Bureau. A Joint Checking Account Owner Took All the Money Out and Then Closed the Account Without My Agreement. Can They Do That? Your parent can see every transaction, transfer money out, or shut the account down. The specific rules depend on your bank’s account agreement, so read it and ask questions before signing.
For most families this shared access is not a problem. If privacy matters to you, though, understand that a joint account offers very little of it. Every deposit, purchase, and transfer is visible to the co-owner.
Documents You Both Need
Federal banking regulations require every bank to verify identity through a Customer Identification Program before opening an account.2eCFR. 31 CFR 1020.220 – Customer Identification Program Both you and your co-signer will need to provide documentation. Gather everything before you visit a branch or start an online application.
- Government-issued photo ID for each of you. A driver’s license, state ID card, or U.S. passport works. If you don’t have one, state IDs are available through your state’s motor vehicle department, and passports can be applied for at acceptance facilities like post offices and libraries.3U.S. Department of State. U.S. Passports
- Social Security number for both the minor and the co-signer. Banks use it for federal tax reporting on any interest the account earns.
- Proof of date of birth. A birth certificate works if your photo ID doesn’t show your age. You can request a certified copy from the vital records office in the state where you were born.
- Proof of address. The co-signer typically provides a utility bill or mortgage statement. For you, a school transcript or a letter from your school showing your address often satisfies this requirement.
If You Don’t Have a Social Security Number
Non-citizen minors who lack a Social Security number can often use an Individual Taxpayer Identification Number instead. To apply for an ITIN, you’ll need either a valid passport or two supporting documents that prove identity and foreign status. For applicants under 18 without a passport, an original civil birth certificate is required, along with another document such as a school record or a national identification card.4Internal Revenue Service. ITIN Supporting Documents Not every bank accepts ITINs, so call ahead before gathering paperwork.
Which Account to Open
Most banks offer a student checking account designed for teenagers and young adults. These accounts typically waive or reduce monthly maintenance fees and have lower minimum balance requirements than standard checking. The tradeoff is fewer features, and the account may convert to a regular one once you age out of eligibility, which varies by bank but is often around age 25.
A savings account is the other common option. If you’re mainly storing earnings from a part-time job and don’t need frequent access, a savings account lets you earn a small amount of interest. Some families open both: a checking account for day-to-day spending and a savings account for money you’re not planning to touch.
Several fintech apps now offer teen-focused banking products with spending categories, savings goals, and parental spending controls built into the app. These can be useful, but they work differently from traditional bank accounts. Check whether the product is backed by FDIC-insured deposits, what fees apply, and whether you’ll eventually need to move to a traditional account anyway.
Applying and What Happens Next
You can usually start the application online through the bank’s website or complete it in person at a branch. The form asks for personal information from your identification documents: full legal names, dates of birth, Social Security numbers, and addresses for both you and the co-signer. Double-check everything against your documents before submitting, because mismatches between what you enter and what’s in the bank’s verification systems can delay or reject the application.
The form will also ask about an initial funding source, which just means how you plan to put money in for the first time, whether by transferring from another account, depositing cash, or writing a check. Many banks require a minimum opening deposit, commonly in the range of $25 to $100.5Consumer Financial Protection Bureau. Checklist for Opening a Bank or Credit Union Account
Once you submit, the bank runs a verification check. Many institutions use ChexSystems, a reporting agency that tracks banking history like unpaid negative balances or accounts closed for cause.6ChexSystems. ChexSystems Frequently Asked Questions Since you’re 17 and likely opening your first account, that check is almost always clean on your end. The co-signer’s banking history matters too, so a parent with unresolved bank issues could complicate the process.
After approval, both you and the co-signer sign a signature card, which is the bank’s official record of who’s authorized on the account. You make your opening deposit, and the account goes live. If you requested a debit card, it typically arrives by mail within one to two weeks. Activate it by calling the number on the sticker or using an ATM to set your PIN.
Think Twice Before Opting Into Overdraft
At some point during or after the application, the bank will ask whether you want to opt into overdraft coverage for ATM withdrawals and one-time debit card purchases. Federal rules require the bank to get your affirmative consent before charging overdraft fees on those transactions.7Consumer Financial Protection Bureau. 12 CFR 1005.17 – Requirements for Overdraft Services Without opting in, the bank simply declines the transaction if you don’t have enough money. With overdraft coverage, the bank pays the transaction and charges you a fee, often $25 to $35 per occurrence.
On a joint account, the consent of either co-owner is enough to enable overdraft services for the entire account, and either person can revoke it.7Consumer Financial Protection Bureau. 12 CFR 1005.17 – Requirements for Overdraft Services For a 17-year-old learning to manage money, declining overdraft coverage is usually the smarter move. A declined transaction at a register is embarrassing. A $35 fee on a $4 coffee is expensive.
What Changes When You Turn 18
Turning 18 doesn’t automatically remove your parent from the account. Most banks require you to take action: visit a branch, request removal of the co-owner, or open a new individual account and close the joint one. Some student accounts stay in their current form well past 18, converting to a standard account only when you age out of eligibility, sometimes as late as 25. Check your bank’s terms so you know when fees might change.
If you want a clean start with full ownership and privacy over your finances, the simplest path is to open a new individual checking or savings account once you turn 18, transfer your balance, and close the old joint account. You’ll need the same types of identification you used the first time, but you won’t need anyone else’s signature. This is also a good moment to shop around, since you’re no longer limited to whichever bank your parent chose.
Before closing the joint account, make sure any direct deposits, automatic payments, or linked services are moved to the new account first. Missing a payroll deposit or an automatic bill payment during the switch is the kind of avoidable headache that catches people off guard.