What you need to do to open a joint account

To open a joint bank account, you and the other account holder visit a bank or credit union together, bring identification and proof of address for both people, and sign the account agreement. The bank will run a background check on both of you through ChexSystems or Early Warning Services—systems that track banking history—and you'll choose whether the account is owned jointly with rights of survivorship (meaning the surviving owner inherits the balance if one dies) or as tenants in common (meaning your share goes to your estate). Most banks let you open an account the same day; some require an initial deposit ranging from $0 to $300 depending on the institution.

You do not need to be married or related to open a joint account. Banks treat joint accounts the same way whether you're spouses, partners, adult siblings, or friends. The key requirement is that both account holders must be present at the bank, or one person can open it alone and add the other person later—though adding someone later sometimes requires their presence anyway, depending on the bank's policy.

Key Takeaways

  • Both account holders must bring a government-issued ID and proof of address (utility bill, lease, or mortgage statement) to the bank in person.
  • You will choose the ownership structure: rights of survivorship (surviving owner inherits the account) or tenants in common (your share goes to your estate).
  • The bank runs a background check through ChexSystems or Early Warning Services on both people before opening the account.
  • Most accounts open the same day, though some banks require an initial deposit of $25 to $300.
  • You can add a second person to an existing account later, but the bank may require that person to visit in person or sign documents by mail.

Documents you need to bring

Each account holder needs a government-issued photo ID—a driver's license, passport, state ID card, or military ID. The bank will not accept a school ID, library card, or expired ID. You also each need proof of current address, which the bank uses to verify you live where you say you do. Acceptable documents include a utility bill, lease agreement, mortgage statement, or recent bank statement with your name and address on it. The document must be dated within the last 60 days at most banks; some accept up to 90 days.

If you've moved recently and your ID doesn't match your current address, bring both your ID and a current proof-of-address document. The bank will use the ID for identity verification and the address document to confirm where you live now. If you don't have a utility bill or lease in your name, a mortgage statement, insurance bill, or government letter (like a tax document or voter registration card) usually works. Call the specific bank before you go to confirm what they accept, since requirements vary slightly.

Choosing between rights of survivorship and tenants in common

The two ownership structures determine what happens to the money if one account holder dies. With rights of survivorship (also called "joint tenants with rights of survivorship" or JTWROS), the surviving account holder automatically owns the entire balance. The money does not go through probate—the legal process of distributing a dead person's estate—and the surviving owner can access it immediately. This is the most common choice for spouses and long-term partners.

With tenants in common, each person owns a specific share of the account (usually 50/50 unless you agree otherwise). If one person dies, their share goes to their estate and is distributed according to their will or state law. The surviving account holder does not automatically inherit the dead person's share. This structure is more common when the account holders are not married or when they want to keep their finances legally separate even though they share an account.

Most banks default to rights of survivorship for joint accounts, so if you want tenants in common, you must ask for it specifically when you open the account. The choice affects taxes and inheritance, so if you're unsure which is right for your situation, consider talking to an accountant or attorney before you open the account.

What happens during the background check

The bank will pull a report from ChexSystems or Early Warning Services (sometimes both) on each account holder. These systems track banking history—whether you've had accounts closed for overdrafts, fraud, or other problems. A negative mark does not automatically disqualify you from opening an account, but it may. Banks have different policies: some will open the account anyway, some will require a larger deposit, and some will deny the account.

If you have a history of overdrafts or closed accounts, tell the bank representative before they run the check. Some banks offer second-chance accounts or accounts designed for people with banking problems, and knowing this upfront can help you choose the right product. You have the right to see your ChexSystems or Early Warning report and dispute errors on it. If the bank denies you, they must tell you which system they used and give you contact information so you can request your report for free.

Initial deposit requirements and minimum balances

Most banks require an initial deposit to open a joint account, though the amount varies widely. Some banks have no minimum; others require $25, $100, or $300. A few banks waive the initial deposit if you set up direct deposit of your paycheck. Check the bank's website or call ahead to find out what they require, because this can affect which bank you choose.

After the account opens, some banks require you to maintain a minimum balance to avoid monthly fees. Common minimums are $500, $1,000, or $2,500, depending on the account type. If your balance drops below the minimum, the bank charges a monthly maintenance fee (usually $5 to $15). Some accounts waive the fee if you set up direct deposit or keep a linked savings account above a certain balance. Read the fee schedule carefully before you open the account so you understand what it will cost to keep the account open.

Adding someone to an existing account later

If one person already has an account and wants to add the other person, you can do this without closing and reopening. The account holder goes to the bank with the other person's information and requests to add them as a joint owner. Some banks let you do this in person at a branch; others require the new account holder to come in person and sign documents. A few banks let you add someone by mail, sending documents for the new owner to sign and return.

When you add someone to an existing account, the bank may run a background check on the new person, just as they would for a new account. The existing account holder's history does not change—only the new person is checked. The bank will also ask you to confirm the ownership structure (rights of survivorship or tenants in common) at that time. If you don't specify, the bank will usually default to rights of survivorship.

What happens to the account if you separate or divorce

A joint account remains joint until both owners agree to change it or a court orders it changed. If you separate or divorce, the account does not automatically split. Either owner can still withdraw all the money, which is why many people close the joint account and open separate accounts as soon as a separation begins. If you want to divide the money, you can withdraw your share and close the account, or one person can remove the other person as an owner.

To remove someone from a joint account, go to the bank with your ID and request to remove the other person. The bank will usually let you do this without the other person's permission, though some banks require written notice to the other owner. After removal, the account becomes a single-owner account in the name of whoever remains. If you're going through a divorce, a court order can force the bank to freeze the account or divide it, so talk to your attorney about whether you need a court order before you make changes.

Frequently Asked Questions

Can I open a joint account online without going to the bank?

Most banks require at least one person to visit a branch in person to open a joint account, because they need to verify ID and address documents. Some online banks let you open a joint account entirely online if both owners have valid digital ID verification, but this is less common. Call or check the bank's website to see if they offer online joint account opening.

What if one account holder has bad credit?

Bad credit does not prevent you from opening a joint account. Banks check banking history through ChexSystems or Early Warning Services, not credit bureaus. However, if one person has a history of overdrafts or fraud, the bank may deny the account or require a larger deposit. The other person's good credit does not override this.

Can I have more than two people on one account?

Yes, some banks allow three or more owners on a single account, though this is less common. Each owner can usually withdraw all the money and make all decisions about the account. Call the bank to ask if they offer accounts with more than two owners and what the rules are.

Do both people need to be present when we open the account?

Most banks require both owners to be present in person. Some banks let one person open the account alone and add the other person later, but the second person usually still needs to visit the bank or sign documents. Check with your bank about their specific policy.

What if one account holder dies?

If the account has rights of survivorship, the surviving owner automatically owns the entire balance and can access it right away. If it's tenants in common, the dead person's share goes to their estate. The surviving owner should contact the bank with a death certificate to update the account.