What you need to do to open a joint account at Bank of America
You and the other account owner both need to go to a Bank of America branch together, bring valid government ID, and decide what type of account you want. The bank will ask how you want the account titled — usually "Person A and Person B" or "Person A or Person B" — which determines who can withdraw money and what happens to the account if one owner dies. You'll fund the account with an opening deposit (the minimum varies by account type), sign the paperwork together, and walk out with a debit card and online access within a few minutes.
Bank of America does not require you to be related, married, or have any particular relationship to open a joint account. You do both need to be present in person at the branch — you cannot open one by phone or online. If you live far apart or cannot both visit a branch on the same day, you'll need to find another time or consider whether a joint account is what you actually need.
Key Takeaways
- Both account owners must visit a Bank of America branch in person with valid ID to open a joint account.
- You will choose between "and" ownership (both must sign to withdraw) or "or" ownership (either can withdraw alone), which affects how the money is treated if one owner dies.
- The minimum opening deposit depends on the account type you choose, ranging from $0 for some checking accounts to $10,000 for certain savings products.
- You can set up online banking and receive a debit card the same day, though some features may take a few business days to set up.
What documents and information to bring to the branch
Bring a government-issued photo ID for each account owner — a driver's license, passport, or state ID card. Bank of America will verify your identity against their internal records, so bring the ID you used if you already have a Bank of America account. You'll also need your Social Security number, which the bank uses to check your banking history and run a background check.
If you're opening the account to manage money for a specific purpose — paying household bills, saving for a vacation, or managing a business — you don't need to tell the bank that, but it can help you decide which account type fits best. Bring a list of any other banks where you have accounts, though this is not required.
The difference between "and" and "or" ownership
Joint ownership with "and" means both owners must sign or authorize any withdrawal over a certain amount (usually $5,000, but this varies). Either owner can deposit money, but large withdrawals require both signatures. This setup is less common and slower for everyday use, but it protects both people if one owner is worried about the other spending without agreement.
Joint ownership with "or" means either owner can withdraw any amount without permission from the other. This is the standard setup for couples, roommates, and family members managing shared expenses. If one owner dies, the surviving owner automatically owns the full account balance — the money does not go through probate or the deceased person's will.
If you're unsure which one you need, "or" ownership is simpler for day-to-day use. You can ask the banker which setup other customers in your situation typically choose, and you can change the ownership structure later by visiting the branch again.
Types of accounts you can open jointly
Bank of America offers joint checking accounts, joint savings accounts, and joint money market accounts. A joint checking account comes with a debit card and online bill pay, and is designed for frequent deposits and withdrawals — this is what most people use for shared household expenses. A joint savings account earns interest on your balance and is meant for money you're not spending right away, though the interest rate is usually low.
The minimum opening deposit and monthly fees vary by account type. Some checking accounts have no minimum deposit but charge a monthly fee unless you meet certain conditions (like setting up direct deposit). Ask the banker to show you the fee schedule for each account type before you decide, because fees can add up over time.
What happens during the appointment
Arrive at the branch together with both IDs and your Social Security numbers. Tell the banker you want to open a joint account. They will ask you to choose between "and" and "or" ownership, pick an account type, and decide on an opening deposit amount. The banker will then run a background check (which takes a few minutes) and prepare the account paperwork.
You and the other owner will both sign the paperwork in front of the banker. The banker will issue a debit card on the spot or mail it to you within 5 to 7 business days, depending on the branch. You'll receive a temporary card number for online purchases if you need to use the account when ready. Online banking access is usually active within a few hours, though some features like bill pay may take up to 24 hours to turn on.
Setting up online access and managing the account together
After you leave the branch, both owners can log into Bank of America's website or mobile app using the same account number. You can each set up your own username and password, or you can share one login — the choice is yours. The bank does not limit how many people can access a joint account online, so you can both monitor the balance and transactions at any time.
You can set up alerts that notify both owners when the balance drops below a certain amount, when a large withdrawal happens, or when a check clears. This helps both people stay aware of what's happening with the shared money. If you need to change the account ownership structure, add a third owner, or close the account, you'll need to visit the branch together again.
Frequently Asked Questions
Do we both have to be Bank of America customers already?
No. If one or both of you are new to Bank of America, you can open the joint account as your first account with the bank. The banker will set up everything in one appointment.
What if we want to add a third person to the account later?
You'll need to visit the branch together with the third person and their ID. Bank of America can add them to the account, though the process and any fees depend on whether you're adding them as an owner or just as an authorized user.
Can we open a joint account if one of us doesn't have a Social Security number?
Bank of America requires a Social Security number or Individual Taxpayer Identification Number (ITIN) for each account owner. If one person doesn't have either, you'll need to explore other options or contact the bank directly to ask about exceptions.
What happens to the account if one owner dies?
With "or" ownership, the surviving owner automatically owns the full balance and can continue using the account. With "and" ownership, the account may be frozen until the estate is settled. The surviving owner should contact the bank with a death certificate to update the account.
Can we close the account if we disagree about it later?
Either owner can close a joint account by visiting the branch or calling Bank of America, though some branches may require both owners to be present. Check your account agreement or call the branch to confirm their policy before you open the account.