Yes, but you'll need a parent or guardian to co-sign
Most banks let 17-year-olds open an account, but they require a parent or guardian to be a joint account holder or co-signer. You cannot open an account alone at 17 because you are a minor and lack the legal capacity to enter a binding contract with a bank.
The exact rules vary by bank. Some banks allow a minor to be the primary account holder with a parent as a co-owner. Others require the parent to be the primary holder and the minor as a secondary user. A few banks set their own age limit higher than 17—Chase, for example, requires you to be 18 unless a parent opens a custodial account. Call the bank's customer service line or visit a branch to ask about their specific policy before you go in.
You will need to bring identification and proof of address. A state ID, school ID, or passport works for identification. For proof of address, bring a utility bill, lease, or bank statement in your name or your parent's name at your current address. Your parent will need to bring their own ID and proof of address as well.
Key Takeaways
- A parent or guardian must be present and co-sign or become a joint account holder when you open an account at 17.
- Different banks have different rules about whether the parent is the primary holder or a co-owner, so confirm the bank's policy before you visit.
- Bring a state ID or passport and proof of address such as a utility bill or bank statement.
- Once the account is open, you can use a debit card and online banking just like an adult account holder.
What type of account works best for a 17-year-old
A checking account is the most common choice for a teenager. It gives you a debit card, online access, and the ability to write checks if you need to. Most banks offer checking accounts with no monthly fee for minors, though some charge a small fee once you turn 18 unless you meet a minimum balance or set up direct deposit.
A savings account is useful if you want to set money aside and earn a small amount of interest. Interest rates are low—typically 0.01% to 0.05% at traditional banks—but some online banks offer higher rates, around 4% to 5%, though these change frequently. A savings account usually has fewer transactions per month than a checking account, so it works better if you are saving rather than spending regularly.
Some banks offer teen checking accounts designed specifically for minors. These often come with parental controls that let your parent set spending limits, see transactions, or restrict certain types of purchases. If your parent wants oversight, ask whether the bank offers this feature.
What happens when you turn 18
When you turn 18, the account does not automatically change. Your parent remains a co-owner or co-signer unless you both go to the bank and remove them. You can request this change in person at a branch or sometimes online, depending on the bank.
Removing a co-owner does not close the account or affect your money. It simply changes the legal structure so that only you can authorize transactions and make decisions about the account. If your parent wants to stay on the account after you turn 18, they can, and the account continues as a joint account.
Banks that make it easy for minors
Most major banks accept 17-year-olds with a parent present. Wells Fargo, Bank of America, Citibank, and TD Bank all offer accounts for minors. Charles Schwab and Ally Bank allow minors to open accounts online with a parent's consent, which can be faster than visiting a branch.
Credit unions often have flexible policies for minors. If your family belongs to a credit union, call and ask whether they accept 17-year-olds and what documents you need. Credit unions sometimes have lower fees and higher interest rates on savings than traditional banks.
Online banks like Ally, Charles Schwab, and Discover may let you open an account without visiting a branch, though a parent still needs to be involved. This can save time if the nearest bank branch is far away.
What you need to bring to open the account
| You need to bring | Examples |
|---|---|
| Your ID | State ID, passport, school ID, or driver's license |
| Proof of your address | Utility bill, lease, or bank statement in your name or your parent's name |
| Your parent's ID | Driver's license or passport |
| Your parent's proof of address | Utility bill, lease, or recent bank statement |
| Social Security number | Yours and your parent's (the bank will ask for these) |
Call the bank before you go to confirm they have everything they need. Some banks ask for additional documents, and it is faster to know in advance than to make a second trip.
Bring originals or certified copies of documents—photocopies are usually not accepted. If any document is in your parent's name only, bring a second document showing your address, such as a school ID or a piece of mail addressed to you at that location.
Debit card and online banking access
Once your account opens, you can order a debit card and set up online banking. The debit card works immediately at most merchants, though some banks delay activation for a day or two for security reasons. You can check your balance, transfer money, and pay bills online from day one.
Your parent may have access to the account online as well, depending on the bank's setup. Ask the bank whether your parent can see your transactions and whether they can set spending limits through the app. If you want privacy, you can ask to remove your parent's online access once you turn 18, even if they remain a co-owner on paper.
Frequently Asked Questions
Can I open a bank account at 17 without a parent?
No. Banks require a parent or legal guardian to be present and co-sign because you are a minor. You cannot enter a binding contract with a bank on your own until you turn 18.
What if my parent does not want to co-sign?
You will need to wait until you turn 18 to open an account independently. If you need access to banking services before then, ask a trusted adult—a grandparent, aunt, or uncle—whether they can co-sign instead.
Do I need a Social Security number to open an account?
Yes. The bank needs your Social Security number and your parent's Social Security number to open the account. Bring your Social Security card or a document that shows your number.
Can my parent see all my transactions?
That depends on the bank and how the account is set up. Some banks give parents full visibility; others let you set privacy preferences. Ask the bank about parental controls and monitoring options before you open the account if this matters to you.
What happens if I overdraft the account?
If you spend more than you have, the bank may decline the transaction or charge an overdraft fee, usually $25 to $35 per overdraft. Some banks waive overdraft fees for minors. Ask whether the bank offers overdraft protection or the option to link a savings account to cover shortfalls.