What banks ask for when you open a joint account

To open a joint bank account, you and the other account holder must both show up in person at the bank (or complete the process online if the bank offers it), bring government-issued photo ID, and provide your Social Security numbers. The bank will run a background check on both of you through ChexSystems or Early Warning Services—systems that track banking history and fraud. You'll also need to decide on account type (checking, savings, or both), initial deposit amount, and how the account will be owned: as joint tenants with rights of survivorship (meaning the surviving owner gets the full balance if one dies) or as tenants in common (meaning each owner's share goes to their estate). Most banks default to joint tenants with rights of survivorship unless you specify otherwise.

Some banks require both account holders to be present for the entire process; others allow one person to open the account and add the second person later. If you're opening online, you may be able to complete your portion separately, but the bank will still need to verify the second person's identity before the account becomes active. A few banks allow one account holder to open the account alone and add a co-owner afterward without that person being present, though this is less common.

Key Takeaways

  • Both account holders must provide a government-issued photo ID and Social Security number, whether opening in person or online.
  • The bank will check your banking history through ChexSystems or Early Warning Services before approving the account.
  • You must decide whether the account will be owned as joint tenants with rights of survivorship or tenants in common, which affects what happens to the money if one owner dies.
  • Some banks require both people present; others allow one person to open and add the second person later, so call ahead to confirm the process at your bank.
  • An initial deposit is required, but the amount varies by bank and account type—typically $25 to $100 for checking accounts.

Documents and information to bring

Bring an original government-issued photo ID for each account holder—a driver's license, passport, or state ID card. The bank will not accept expired IDs, photocopies, or digital images on a phone. You'll also need your Social Security number (or Individual Taxpayer Identification Number if you don't have an SSN) and your current address. If you've moved recently, bring a piece of mail showing your address—a utility bill, lease, or mortgage statement dated within the last 60 days. Some banks ask for this; others don't, but having it ready speeds up the process.

If either account holder has a history with ChexSystems or Early Warning Services (the banking history databases), the bank may ask for additional documents. This can include a letter explaining a past overdraft, a closed account, or fraud report. If you were flagged for fraud at another bank, bring documentation showing the issue was resolved or that you were not at fault. Banks vary in how strictly they review this history, so if you know you have a mark on your record, call the bank before you go in and ask what they'll need.

Initial deposit requirements

Most banks require an opening deposit to activate the account. The amount depends on the account type and the bank. A basic joint checking account typically requires $25 to $100; savings accounts may require $100 to $500. Some banks waive the minimum if you set up direct deposit or maintain a certain balance. A few online banks have no opening deposit requirement at all. Call or check the bank's website before you go in so you know exactly how much to bring.

The opening deposit can come from a check, cash, or a transfer from another account. If you're transferring from another bank, the transfer may take one to three business days to clear, so the account won't be fully active until the money arrives. If you're depositing cash or a check in person, the funds are usually available the same day or the next business day.

How ownership structure affects the account

Joint tenants with rights of survivorship is the default at most banks. If one owner dies, the surviving owner automatically owns the entire balance—it does not go through probate or the deceased person's will. This is the simplest structure for couples, parents and adult children, or any two people who want the survivor to have full access immediately. However, creditors of the deceased person cannot go after the account to pay debts, which can be a benefit or a drawback depending on the situation.

Tenants in common means each owner has a separate legal claim to their portion of the account. If one owner dies, their share goes to their estate and is distributed according to their will or state law—it does not automatically go to the other owner. This structure is less common for joint accounts but may be chosen by business partners, adult siblings, or anyone who wants to keep their money legally separate even though it's in the same account. You must specifically request this structure; most banks will not offer it as an option unless you ask.

Some states recognize a third option, tenants by the entirety, available only to married couples. This offers additional creditor protection in some situations. Ask your bank whether this is available in your state and whether they offer it.

What happens if one account holder has a ChexSystems record

If either account holder has a negative mark in ChexSystems—such as an unpaid overdraft, a closed account due to fraud, or a history of bounced checks—the bank may deny the joint account application. The bank is not required to explain the specific reason, but they must tell you that the decision was based on ChexSystems information and provide you with contact details for ChexSystems so you can request your report.

You can request your ChexSystems report for free at www.chexsystems.com. Review it for errors and dispute anything that is inaccurate. If the information is correct but old (more than a few years), some banks will still approve the account, especially if the other account holder has a clean history. Call the bank's new accounts department and ask whether they make exceptions for older negative marks. If the primary bank denies you, try a credit union or an online bank—they sometimes have less strict ChexSystems policies.

Online versus in-person account opening

Many banks now allow you to open a joint account entirely online. The process typically works like this: one account holder starts the application, enters both people's information, and the bank sends a secure link to the second person's email or phone. The second person verifies their identity (usually by uploading a photo of their ID and answering security questions), and the account is activated once both people have completed their portions. The entire process can take 15 minutes to an hour.

In-person opening at a branch is still the standard at some banks and may be required if either account holder cannot verify their identity online or if the bank's system flags the application for manual review. In-person opening also gives you a chance to ask questions and understand the account features before you commit. If you open online, you can usually call the bank's customer service line with questions after the account is active.

Fees and account features to confirm before opening

Before you sign anything, confirm the monthly maintenance fee (if any), overdraft fees, and whether the bank charges for transfers or withdrawals. Some joint accounts have no monthly fee if you maintain a minimum balance or set up direct deposit; others charge $5 to $15 per month regardless. Overdraft fees typically range from $25 to $35 per occurrence. Ask whether the bank offers overdraft protection (a link to a savings account or credit line that covers overdrafts automatically) and whether it costs extra.

Also confirm how many debit cards you'll receive, whether you can both access the account online, and whether you can set up alerts for large transactions or low balances. Some banks allow each account holder to set their own PIN for the debit card; others use a shared PIN. If you plan to use the account for business or to track shared expenses, ask whether the bank offers spending categories or notes so you can tag transactions. These features vary widely and are often free, but you have to ask.

Frequently Asked Questions

Do both account holders have to be present when we open the account?

It depends on the bank. Some require both people in person; others allow one person to open online and add the second person later. A few banks let one person open the account alone and add a co-owner without them being present. Call your bank before you go in to confirm their process.

What if one of us has a bad banking history?

The bank will review both account holders' ChexSystems records. A negative mark on one person's record may cause the bank to deny the application, but it depends on how old the mark is and how strict the bank's policy is. Request your ChexSystems report to see what's on file, and call the bank to ask whether they make exceptions.

Can we change the ownership structure after we open the account?

Yes, but it requires paperwork and may take a few days. Contact your bank and ask to change the account from joint tenants with rights of survivorship to tenants in common (or vice versa). The bank will provide a form for both owners to sign. Some banks charge a small fee for this change.

What if one account holder dies?

If the account is set up as joint tenants with rights of survivorship, the surviving owner automatically owns the entire balance and can continue using the account. If it's tenants in common, the deceased person's share goes to their estate. The surviving owner should notify the bank of the death and provide a death certificate.

Can we open a joint account if we're not married?

Yes. Banks do not require you to be married to open a joint account. You can open one with a family member, friend, business partner, or anyone else. Both people must provide ID and a Social Security number, and both must consent to the ownership structure.