Adding a co-owner to your bank account
To add another person to your existing bank account, you visit your bank in person or call them, provide the other person's legal name and Social Security number, and sign paperwork that makes them a co-owner. The new account holder signs the same paperwork. Once both signatures are on file, that person can withdraw money, make deposits, and manage the account just as you can — they have full access.
The process takes anywhere from a few minutes in person to a few business days if you do it by mail or phone. Some banks let you start online, but they almost always require you to finish with signatures in a branch or by returning signed documents. The other person does not have to be present at the bank, but they do have to sign the paperwork themselves.
Key Takeaways
- You will need the other person's legal name, date of birth, and Social Security number before you contact your bank.
- Both you and the new account holder must sign the paperwork — the bank will not accept a signature from only one of you.
- A co-owner has the same rights to the money as you do and can withdraw all of it without your permission.
- Adding someone takes a few minutes in person at a branch, or several business days if done by phone or mail.
- Some banks charge a small fee to add an account holder, while others do not — ask before you start the process.
What information you need to bring or provide
Have the other person's full legal name as it appears on their government ID — this must match exactly what the bank records show. You will also need their date of birth and their Social Security number. The bank uses the Social Security number to run a background check and verify their identity.
Bring your own ID and the account number or card for the account you want to add them to. If you are doing this by phone or mail, write down the account number before you call so you do not have to search for it. Some banks also ask for a phone number where they can reach the other person to confirm they want to be added.
The difference between a co-owner and an authorized user
A co-owner is a person whose name is on the account and who owns the money in it equally with you. They can close the account, change the account settings, and take all the money without telling you. If you die, the money in the account goes to them automatically — it does not go through your will.
An authorized user is a person you give permission to use the account, but their name is not on it and they do not own the money. You stay the legal owner. Authorized users can usually make deposits and withdrawals, but they cannot close the account or change its terms. If you die, the money does not automatically go to them. Not all banks offer authorized user accounts, so ask whether your bank has this option if you want someone to have access without full ownership.
What happens after you sign the paperwork
Once both signatures are on the paperwork and the bank has processed it, the new co-owner's name appears on the account. They can usually start using the account within one business day. The bank will send them a debit card and checks in their name if they request them, though this takes a few more days to arrive in the mail.
Both of you will receive statements showing all activity on the account. Either of you can set up online banking access using your own login, and you will each see the full balance and all transactions. If you want to limit what the other person can see or do, you cannot do that with a co-owner account — you would need to use an authorized user account instead, if your bank offers it.
When the other person is not available to sign in person
If the other person lives far away or cannot visit a branch, most banks will mail you the paperwork. You both sign it and mail it back to the bank. This usually takes one to two weeks total, depending on mail delivery time and how quickly the bank processes the forms after they receive them.
Some banks also let you do a video call with a bank employee while the other person is on the call with you, and they can sign electronically during that call. Ask your bank whether they offer this option — it is faster than mailing and slower than going to a branch in person.
Fees and account requirements
Most banks do not charge a fee to add a co-owner to an existing account. However, some banks require the account to meet certain conditions — for example, the account might need to have a minimum balance, or it might need to be a specific type of account like a joint checking account rather than a savings account.
Before you start the process, call your bank or visit their website and ask whether there is a fee and whether your account type allows co-owners. If your account does not may have access to, the bank can usually move the money to a different account type that does, and then add the co-owner to that account.
What to do if you change your mind
If you want to remove the co-owner later, you can do that by going to your bank and signing a form to remove their name from the account. The process is similar to adding them — it takes a few minutes in person or several business days by mail. Once their name is removed, they lose access to the account when ready.
Removing a co-owner does not close the account or move the money anywhere. The money stays in the account under your name alone. The person you removed will no longer receive statements or have any access, and any debit card or checks in their name will stop working.
Frequently Asked Questions
Can I add someone to my account without them knowing?
No. The bank requires the other person to sign the paperwork themselves. Some banks will also call or email them to confirm they want to be added. If you add someone without their knowledge or consent, that is fraud, and the bank can reverse it if the person reports it.
What if the other person has bad credit or a criminal record?
The bank runs a background check, but having bad credit or a past criminal record does not automatically disqualify someone from being a co-owner. The bank is mainly checking that the person is who they say they are. If the bank denies the request, they will tell you why.
Does adding a co-owner affect my credit score?
No. Adding a co-owner to a bank account does not show up on either person's credit report. Credit scores are based on borrowing and debt, not on bank account ownership. The only time a bank account might affect credit is if the account goes negative and the bank sends it to a collection agency.
Can a co-owner remove me from the account?
No. A co-owner cannot remove you from the account or change the account ownership. Only the bank can remove a co-owner, and they will do it only if you (the original account holder) request it, or if a court orders them to.
What happens to the money if one co-owner dies?
The surviving co-owner keeps the money. It does not go through a will or probate — it passes automatically to the other co-owner because of how the account is set up. This is called "right of survivorship" and is one reason some people add a co-owner.