Yes, you can open a bank account at 17, but with restrictions

Most banks allow you to open a checking or savings account at 17 without a parent or guardian present, but the account will be a minor account — which means your parent or guardian has legal access to it and can see all transactions. Some banks require you to be 18 to open an account on your own; others let you start at 16 or even younger with a co-signer. The rules vary by bank and by state, so you need to check with the specific bank you want to use.

If you want an account that is truly yours alone, with no parental oversight, you will need to wait until you turn 18 in most cases. At 18, you become a legal adult and can open an account in your name only. Before then, any account you open will either require a parent or guardian to co-sign or will give them access to monitor the account.

Key Takeaways

  • Most banks allow 17-year-olds to open checking or savings accounts, but the account is legally owned by the minor and the parent or guardian together.
  • Your parent or guardian can see all deposits, withdrawals, and transactions on a minor account, and they may be able to withdraw money themselves.
  • Some banks have different age requirements — a few allow accounts at 16, and some require you to be 18 — so call ahead before you go in.
  • At 18, you can open an account in your name alone without parental access or co-signature.
  • You will need a government-issued ID (usually a state ID or passport) and proof of address to open any account.

What a minor account means for you and your parent

When you open a minor account at 17, the bank treats it as a joint account between you and your parent or guardian. Legally, both of you own the money in it. This means your parent can deposit money, withdraw money, and see every transaction — they have the same access you do. The bank will not hide anything from them, and they do not need your permission to move money out.

This is different from an account where your parent is simply listed as an emergency contact. A minor account gives them actual legal control. If your parent needs to pay a bill or cover an expense, they can take money from the account without asking you first. This is by design — the law assumes parents need to manage money for their children.

Some banks offer teen accounts or youth accounts that come with parental controls — your parent can set limits on how much you can withdraw per day, or turn off online transfers. These tools let your parent give you some independence while keeping guardrails in place. Ask your bank whether they offer this option.

Documents you will need to bring

To open an account at 17, bring a government-issued photo ID — a state driver's license, state ID card, or passport. You will also need proof of your current address, which can be a utility bill, lease, or bank statement in your name or your parent's name at your address. Some banks accept a school ID as a secondary form of identification.

Your parent or guardian will need to bring their own ID as well, since they are signing the account agreement. If your parent cannot come with you, some banks allow them to sign documents separately or online, but you will need to ask the bank about their specific process before you go in.

Bring your Social Security number or have it memorized. The bank will use it to run a background check and to report the account to credit bureaus.

Banks with different age requirements

Most major banks — Chase, Bank of America, Wells Fargo, Citibank — allow you to open an account at 17 with a parent or guardian. Some regional banks and credit unions have different rules. A few allow accounts at 16; others require you to be 18. Call the bank's customer service line or visit a branch to ask about their specific age requirement before you apply.

Online banks like Ally, Charles Schwab, and Discover also have varying policies. Some online banks do not offer accounts for minors at all, or they require you to be 18. Again, check their website or call their customer service number to confirm.

Credit unions sometimes have lower age requirements than banks, and they may offer better rates on savings accounts. If there is a credit union in your area, it is worth asking what they offer for 17-year-olds.

What you can and cannot do with a minor account

At 17, you can deposit money into your account, withdraw cash at an ATM or teller window, and use a debit card to make purchases. You can set up direct deposit if your employer offers it — this is a common way to receive paychecks. You can also transfer money between accounts at the same bank using online banking or a mobile app.

What you cannot do: you cannot take out a loan, open a credit card in your name alone, or overdraft the account (go below zero) without your parent's permission. Some banks will not let minors use certain online features like wire transfers or bill pay without parental approval. If you need to do something outside the basic deposit-and-withdraw functions, ask the bank what restrictions apply to your account.

Your parent can override most of these restrictions, which is another reason they have so much control over a minor account. If you want to send money to a friend using a wire transfer and the bank blocks it, your parent can authorize it on your behalf.

Turning 18 and converting your account

When you turn 18, you can convert your minor account into an adult account in your name alone. You will need to go to the bank with your ID and sign new account documents. Your parent's name will be removed, and they will no longer have access to see your transactions or withdraw money. This usually takes a few minutes and does not cost anything.

Some banks do this automatically on your 18th birthday; others require you to request it. Check with your bank about their process. If you want to move to a different bank at 18, you can close this account and open a new one elsewhere — just make sure you have your account number and routing number if you need to set up direct deposit at your new bank.

Frequently Asked Questions

Can I open an account without my parent knowing?

No. If you are 17, the bank will require your parent or guardian to co-sign or be present. They will also receive statements and have access to the account. You cannot hide a minor account from your parent.

What if my parent and I disagree about money in the account?

Legally, the money belongs to both of you. If your parent withdraws money you earned, you have limited recourse — the account is jointly owned. This is why it is important to talk to your parent about how the account will be used before you open it.

Can I open an account at 16?

Some banks allow it, but most require you to be 17 or 18. Call your bank or visit their website to find out their minimum age. Credit unions sometimes have lower age requirements than traditional banks.

Do I need a Social Security number to open an account?

Yes. The bank uses it to run a background check and report the account to credit bureaus. If you do not have a Social Security number, you cannot open a standard bank account.

Will opening an account at 17 affect my credit score?

Opening a checking or savings account does not build or hurt your credit score. Credit scores are based on borrowed money — loans and credit cards — not on deposit accounts. A bank account is separate from your credit history.