Yes, you can open a joint bank account, but the bank sets the rules
You can open a joint bank account at nearly any bank or credit union, but you and the other account holder must both be present (in person or online) with valid identification. The bank will run a background check on both of you through ChexSystems or Early Warning Services, which flags accounts closed for fraud or unpaid overdrafts. If either of you has a history that triggers a decline, that bank will refuse to open the account — you'll need to try a different institution or resolve the issue first.
The account itself is straightforward: both names go on the account, both of you can deposit and withdraw money, and both of you are legally responsible for overdrafts or disputes. What matters more is what you decide before you walk in — whether you want survivorship rights (the account automatically goes to the survivor if one of you dies), what happens if you separate, and whether the bank will let you remove the other person without their permission.
Key Takeaways
- Both account holders must show up with a valid ID (driver's license, passport, or state ID) and the bank will check both names against ChexSystems for fraud or overdraft history.
- Joint accounts give both people full access to all the money — either person can withdraw everything without permission from the other.
- If one account holder dies, the money goes to the survivor automatically only if you choose "joint tenancy with rights of survivorship" when you open the account; otherwise it becomes part of the estate.
- You can remove the other person from the account only if the bank allows it, and policies vary — some require both signatures, some allow one person to close it unilaterally.
- If the account goes negative, both of you are responsible for the full overdraft amount, and the bank can pursue either person for collection.
What the bank needs from both of you
Bring a government-issued photo ID for each person — a driver's license, passport, state ID, or military ID. The bank will verify the ID matches the name you're registering and will run both names through ChexSystems, a database that tracks closed accounts, fraud, and unpaid fees. If either of you appears in ChexSystems with a recent closure or unresolved overdraft, that bank will likely decline the account.
You'll also need a Social Security number for each person, which the bank uses for tax reporting and to check credit history (though a joint account itself doesn't require good credit). Some banks ask for proof of address — a recent utility bill or lease — though many now waive this if you have an ID. If one person is not a U.S. citizen, bring a valid passport or visa; some banks accept ITIN (Individual Taxpayer Identification Number) instead of a Social Security number, but policies vary widely.
How money access works once the account is open
Both account holders have equal legal rights to every dollar in the account. Either person can withdraw the entire balance, write checks, use the debit card, or set up automatic transfers without asking permission or notifying the other person. This is true even if one person deposited all the money or earned all the income — the law treats joint accounts as owned equally by both signers.
If you want to limit access, a joint account is not the right tool. Some couples use a joint account only for shared expenses (rent, utilities, groceries) and keep separate accounts for personal money. Others use a "convenience account," where one person is the owner and the other is an authorized user — the authorized user can access the money but is not legally responsible for overdrafts. Ask the bank whether they offer authorized user accounts if you want to share access without equal legal responsibility.
What happens to the account if one person dies
The outcome depends on how you title the account when you open it. If you choose joint tenancy with rights of survivorship (sometimes called JTWROS), the surviving account holder automatically owns the entire balance when the other person dies — the money does not go through probate and does not become part of the deceased person's estate. This is the fastest way to preserve access to shared funds.
If you open the account as tenants in common (or if the bank defaults to this), the deceased person's share becomes part of their estate and goes through probate, even though the other person's name is on the account. This can freeze the account for weeks or months while the estate is settled. Ask the bank which option they use by default and request survivorship rights in writing if that's what you want — do not assume it is automatic.
Removing someone from the account later
Policies on this vary sharply by bank. Some banks allow one account holder to remove the other without consent — you call, provide ID, and the other person's name comes off. Others require both signatures on a form, which means you cannot remove someone without their cooperation. A few banks will not allow removal at all and require you to close the account and open a new one.
Before you open the account, ask the bank directly: "Can one person remove the other from this account without both signatures?" Get the answer in writing or take notes with the employee's name and date. If you think there is any chance you'll need to separate finances later, this answer matters more than the interest rate. If the bank requires both signatures and you later cannot reach the other person, you may have to close the account and lose any promotional bonus or established history.
Overdrafts and debt responsibility
If the account goes negative, both account holders are legally responsible for the full overdraft amount. The bank can pursue either person for collection, and either person's credit report can be damaged. If one person repeatedly overdraws the account and the other person does not notice, the second person is still on the hook.
Some banks offer overdraft protection, which links the account to a savings account or credit line and automatically transfers money to cover shortfalls. This can prevent overdraft fees but also means both people are responsible for repaying whatever was transferred. If you are opening a joint account with someone you do not fully trust with money, overdraft protection can backfire — ask the bank to turn it off when you open the account.
Banks and credit unions that allow joint accounts
Nearly all banks and credit unions offer joint accounts, but requirements and policies differ. Large national banks (Chase, Bank of America, Wells Fargo, Citibank) typically allow joint accounts with minimal friction and offer online account opening for some account types. Regional banks and local credit unions often have stricter identity verification and may require both people to visit a branch in person.
Online banks (Ally, Charles Schwab, Discover) vary — some allow joint accounts, others do not. If you are opening an account with someone who lives far away, check whether the bank allows both of you to complete the process online or whether one person must visit a branch. Some banks require one person to open the account first and then add the second person later, which can delay the process by a few days.
Frequently Asked Questions
Can I open a joint account if the other person has bad credit?
Yes. Joint accounts do not require good credit from either person. The bank will check ChexSystems for fraud or unpaid overdrafts, but not credit history. If the other person has been declined for a joint account before, it is usually because of a ChexSystems flag, not credit score.
What if I want to add someone to my existing account instead of opening a new one?
Most banks allow you to add an authorized user or convert an account to joint ownership, but the process and requirements vary. Call your bank and ask whether they can add the other person without closing and reopening the account. Some banks require the other person to visit a branch; others allow it over the phone with ID verification.
Can I open a joint account online, or do we both have to go to the bank?
It depends on the bank. Some allow both people to complete the process online with ID verification; others require at least one person to visit a branch in person. Online banks are more likely to allow fully remote opening. Call or check the bank's website before you start the process.
What if the other person empties the account without telling me?
Legally, they have the right to do it — both account holders own the money equally. You cannot recover it through the bank. Your only recourse is a civil lawsuit against the other person, which is slow and expensive. This is why joint accounts work best between people you trust completely, like spouses or long-term partners.
Do I need to report a joint account to the IRS?
The bank reports interest earned on the account to the IRS using both Social Security numbers. You do not file a separate form for the account itself, but if you and the other person split up and divide the money, that division is not taxable. Interest and earnings are taxable to whoever earned them, regardless of whose name is on the account.