Yes, you can open a TD Bank account at 17, but the account will be a minor account with restrictions

TD Bank allows 17-year-olds to open savings and checking accounts, but they work differently than adult accounts. The account is held in your name, but a parent or legal guardian must co-own it with you until you turn 18. This means they have full access to the account and can see all transactions. Once you turn 18, you can convert it to a standard adult account without closing anything or moving your money.

The specific rules vary slightly by state, so the exact age when you can take full control and what restrictions explore during the minor account period depend on where you live. TD Bank's local branch can tell you the exact rules for your state when you visit.

Key Takeaways

  • TD Bank allows 17-year-olds to open accounts, but a parent or guardian must be a co-owner until you turn 18.
  • Your parent or guardian will have full access to the account and can see all deposits, withdrawals, and balances.
  • You will need a government-issued ID (like a state ID or passport) and proof of your Social Security number to open the account.
  • The account automatically converts to a standard adult account on your 18th birthday without any action needed on your part.
  • Some minor accounts have limits on daily withdrawals or the number of transactions per month, so ask about restrictions when you open the account.

What documents you need to bring to open the account

You will need a government-issued photo ID. A state ID, driver's license, or passport all work. You will also need to provide your Social Security number — TD Bank will ask for the card itself or a document that shows it, like a birth certificate or tax form.

Your parent or guardian will need to bring their own government-issued photo ID and Social Security number as well, since they are co-signing the account. Both of you should plan to visit the branch together, though some TD Bank locations may allow the parent to authorize the account by phone or video if you cannot both be there in person. Call your local branch ahead of time to ask what they accept.

What happens when you turn 18

On your 18th birthday, the account automatically becomes a standard adult account. You no longer need your parent or guardian as a co-owner, and they lose access to the account. No paperwork is required, and you do not have to close the account and open a new one — your existing account straightforward converts.

If you want your parent to remain involved after you turn 18 (for example, if they are helping you manage money), you would need to add them back as an authorized user or co-owner separately. That is a different process and requires both of you to go to the branch together.

Restrictions on minor accounts

TD Bank may limit how much you can withdraw per day or how many transactions you can make per month on a minor account. These limits exist to protect against fraud and to encourage saving. The exact limits depend on the type of account you open and your state's rules.

When you open the account, ask the TD Bank representative what the daily withdrawal limit is and whether there are limits on how many times you can transfer money or write checks. If the limits feel too tight for how you plan to use the account, ask whether a different account type has higher limits, or whether the limits change as you get older but are still under 18.

Why a parent or guardian must co-own the account

Banks require a parent or legal guardian to co-own minor accounts because minors cannot sign binding contracts on their own. The co-owner is legally responsible for the account and can make decisions about it. This protects both you and the bank.

The co-owner does not have to be a parent — a legal guardian, grandparent, or other adult with legal authority over you can co-own the account instead. If you are in foster care or have a court-appointed guardian, that person can open the account with you.

What type of account to choose

TD Bank offers both checking and savings accounts for minors. A checking account comes with a debit card and lets you make unlimited transactions — you can withdraw money, pay bills online, and use the card at stores. A savings account is designed for money you want to keep rather than spend, and it earns a small amount of interest (money the bank pays you for letting them use your money).

Many 17-year-olds open a checking account because it is more practical for daily spending. Some people open both — a checking account for money they use regularly and a savings account for money they want to set aside. Ask the TD Bank representative about the monthly fees for each type of account. Some accounts have no monthly fee, while others charge a small fee unless you keep a minimum balance or set up direct deposit.

How to open the account

Visit a TD Bank branch near you with your parent or guardian and bring the documents listed above. Tell the representative you want to open a minor account. They will ask you questions about how you plan to use the account, show you the different account types available, and explain the fees and limits.

The whole process usually takes 15 to 30 minutes. You will sign paperwork, your parent or guardian will sign paperwork, and you will receive a debit card (if you open a checking account) either when ready or within a few business days. Your account number and online banking login will be set up so you can check your balance and see transactions right away.

Frequently Asked Questions

Can I open the account without my parent or guardian there in person?

Most TD Bank branches require both you and your parent or guardian to be present. Some locations may allow the parent to authorize the account by phone or video call, but you should call your local branch first to ask. Do not assume it is possible — policies vary by location.

What if I do not have a state ID or driver's license?

A passport works as a government-issued photo ID. If you do not have either, you can get a state ID from your state's Department of Motor Vehicles — it is different from a driver's license and does not require you to pass a driving test. The process takes a few weeks, so plan ahead if you need one.

Will my parent be able to see every transaction I make?

Yes. As a co-owner, your parent or guardian has full access to the account. They can see deposits, withdrawals, debit card purchases, and online transfers. This is one reason some teens open the account — it helps parents teach money management and catch fraud quickly.

Can I have a debit card at 17?

Yes. If you open a checking account, TD Bank will issue you a debit card. You can use it to withdraw cash from ATMs, make purchases at stores, and pay for things online. Your parent or guardian will also receive a debit card linked to the same account.

What happens if I close the account before I turn 18?

You can close the account at any time by visiting a TD Bank branch or calling customer service. Your parent or guardian can also close it. Any money in the account will be returned to you (or your parent, depending on how the closure is handled). There is no penalty for closing early, though you should ask whether there are any outstanding fees first.