What you need to do it

To open a joint savings account at Bank of America, you and the other account holder must both be present in person at a branch, or one of you can start the account online and the second person can be added later. Bank of America requires each person to bring a government-issued photo ID (driver's license, passport, or state ID), proof of current address (a utility bill or lease dated within the last 60 days), and a Social Security number or tax ID. If either person does not have a Social Security number, you can use an Individual Taxpayer Identification Number (ITIN) instead.

The account will need an opening deposit. Bank of America's minimum opening deposit for a savings account varies by account type—some savings products require $0 to open, while others may require $25 or more. You can fund the account with a debit card, transfer from another bank account, or cash if you open in person at a branch.

Both account holders will receive debit cards and online access. Each person can withdraw money, make transfers, and see the full balance. There is no separate "permission" system—both owners have equal control.

Key Takeaways

  • Both account holders must provide a government ID, proof of address, and Social Security number or ITIN at the time of opening.
  • You can open the account together in a branch, or one person can open it online and add the second person afterward through the Bank of America app or website.
  • The minimum opening deposit depends on which savings product you choose, ranging from $0 to $25 or more.
  • Both owners have full access to the account and can withdraw, transfer, or close it without the other person's permission.

Opening in person at a branch

Walk into any Bank of America branch with the other account holder, both IDs, proof of address, and your Social Security numbers. Tell the banker you want to open a joint savings account. The banker will ask which type of savings account you want—Bank of America offers a basic savings account and higher-yield options like the Advantage Savings account. The banker will explain the interest rate, monthly fees (if any), and minimum balance requirements for each.

The banker will enter both names into the system, confirm your addresses, and set up online banking access for each of you. You will choose a PIN for the debit card and set up usernames and passwords for online access. The process usually takes 15 to 30 minutes. You will leave with temporary debit cards or a receipt to pick them up later, and the account will be active the same day.

Opening online and adding the second person

One account holder can start a joint savings account through the Bank of America website or mobile app without going to a branch. That person enters their name, address, Social Security number, and ID information, then chooses the account type and makes the opening deposit. The account opens immediately.

To add the second account holder, the first person logs into their account online and selects the option to add an authorized user or joint owner. Bank of America will send a link to the second person's email or phone. The second person clicks the link, verifies their identity (usually by answering security questions or uploading a photo of their ID), and confirms they want to be added to the account. This process can take a few hours to a business day. Once approved, both people have full access and can see the account in their own online banking login.

What happens after you open the account

Both account holders will receive separate debit cards in the mail within 7 to 10 business days. Each person can activate their card through the app or by calling the number on the back of the card. You can also request a card to be picked up at a branch if you need it faster.

Each owner can set up their own online login and mobile app access. When one person logs in, they see the full account balance and transaction history. Transfers between the joint account and either person's individual accounts can be set up online. There is no limit on how many transfers you can make, though some account types may charge a fee after a certain number of withdrawals per month.

If either account holder wants to close the account or remove the other person, they can do so online or at a branch without the other person's consent. Bank of America will not require both signatures to make changes.

Fees and interest rates

Bank of America's basic savings account has no monthly maintenance fee if you maintain a minimum balance (currently $300) or set up a direct deposit of at least $250 per month. If you fall below the minimum and do not have direct deposit, the bank charges a $4 monthly fee. Interest rates on savings accounts are low—currently around 0.01% APY on the basic savings account, though this changes based on Federal Reserve decisions. The Advantage Savings account offers a slightly higher rate but requires a higher minimum balance.

Joint accounts do not cost more than individual accounts. Both owners can make unlimited deposits, and withdrawals are usually free, though some account types limit the number of free withdrawals per month (this is less common now but worth checking when you open).

What to know about joint account liability

When you open a joint account, both owners are responsible for any overdrafts or fees. If the account goes negative, the bank can charge overdraft fees to the account itself, and both owners are liable. If one person writes a bad check or makes a fraudulent transfer, the other person cannot reverse it unilaterally—you would both need to contact the bank or pursue a dispute together.

If one account holder dies, the account does not automatically pass to the survivor. Bank of America will freeze the account until the bank receives a death certificate and proof of the survivor's right to the funds. The account may go through probate depending on how the account was titled and your state's laws. If you want the account to pass directly to the other person without probate, you should discuss this with a lawyer or ask Bank of America about titling options at the time you open the account.

Frequently Asked Questions

Can I open a joint account if one person does not have a Social Security number?

Yes. Bank of America accepts an Individual Taxpayer Identification Number (ITIN) in place of a Social Security number. The person without a Social Security number will need to bring their ITIN documentation and a government ID. You may need to visit a branch in person rather than opening online, depending on the situation.

What if one person wants to remove the other from the account?

Either account holder can remove the other person by contacting Bank of America at a branch or by phone. The bank does not require both people to agree. Once one person is removed, that person loses access to the account, and the remaining person becomes the sole owner. The removed person will not receive advance notice.

Does a joint account affect credit scores?

Opening a joint savings account does not affect either person's credit score because savings accounts are not reported to credit bureaus. However, if the account goes into overdraft and the bank reports it to a collection agency, it could appear on both people's credit reports.

Can I set spending limits on the debit card for the other person?

Bank of America does not offer spending limits or controls on joint debit cards. Both cards have full access to the entire account balance. If you want to restrict spending, you would need to use a separate account or a different bank that offers controls on joint cards.

How long does it take to add someone to an existing account?

If you add someone online, the process usually takes a few hours to one business day once the second person verifies their identity. If you add someone in person at a branch, it happens the same day. The new owner can access the account immediately through online banking, though the debit card will arrive in the mail within 7 to 10 business days.