Yes, but with limits tied to their age
A 17-year-old can open a checking account at most banks and credit unions, but not the same way an adult does. The account will either be a minor account (with a parent or guardian as co-owner or custodian) or a teen account (designed specifically for teenagers, sometimes with restricted features). The exact rules depend on the bank and the state where you live.
The key difference: your teenager cannot sign a contract alone at 17. A parent or guardian must be involved in opening the account, and that adult's name appears on the account. Some banks let the teen operate the account independently once it is open; others require the parent to approve certain transactions or maintain oversight.
The account itself works like any checking account—a debit card, online access, the ability to deposit and withdraw money. What changes is who has legal responsibility and what the bank allows the teen to do without parental permission.
Key Takeaways
- A parent or guardian must be present and sign documents when a 17-year-old opens a checking account, because minors cannot enter into banking contracts alone.
- Most banks offer either a minor account (co-owned with a parent) or a teen account (designed for ages 13–17), and the features and restrictions differ between them.
- Once the account is open, many banks allow the teen to use the debit card and online banking independently, though some require parental approval for certain actions.
- Overdraft protection, ATM withdrawal limits, and spending caps vary by bank and account type, so compare what each institution offers before opening.
- Your teenager's Social Security number and proof of identity (usually a school ID or state ID) are required, along with the parent's ID and Social Security number.
What banks actually require to open the account
Both the teenager and the parent or guardian must be present at the bank or credit union, either in person or (at some institutions) through a video call. The bank will ask for the teen's Social Security number, proof of identity, and date of birth. A school ID, state ID, or passport works for proof of identity.
The parent or guardian must provide their own Social Security number, photo ID, and proof of address (a utility bill, lease, or bank statement dated within the last 60 days). Some banks also run a background check on the adult, using ChexSystems or Early Warning Services—the same systems used for adult accounts.
If you are opening the account remotely, the bank will likely require you to verify identity through a video call or by uploading photos of documents. The process takes 10 to 20 minutes in most cases, though some banks take longer to process the process after you submit it.
Minor accounts versus teen accounts: what the difference means
A minor account is a standard checking account with a parent or guardian listed as a co-owner or custodian. The parent has full access to the account and can see all transactions. The teen can use the debit card and online banking, but the parent retains legal control. If the account goes negative, the parent is responsible. This is the most common structure at traditional banks like Chase, Bank of America, and Wells Fargo.
A teen account is designed specifically for teenagers and often comes with built-in limits: daily spending caps, ATM withdrawal limits, or restrictions on certain types of transactions. The parent can monitor spending through a parent app or dashboard but may not have full co-ownership. Teen accounts are more common at online banks (like Greenlight, Current, and Fidelity) and some credit unions. They often cost nothing and include financial education tools.
The practical difference: a minor account gives the parent more control but fewer guardrails; a teen account builds in guardrails but may limit what the teen can do. If your teenager is responsible with money, a minor account at a traditional bank may be simpler. If you want to set spending limits and monitor activity closely, a teen account is designed for that.
What your 17-year-old can and cannot do alone
Once the account is open, your teenager can usually deposit checks, use the debit card to make purchases, withdraw cash from ATMs, and check their balance online. They can set up direct deposit for a job. Most banks allow all of this without requiring parental approval for each transaction.
What they typically cannot do alone: write checks (some banks restrict this for minors), set up wire transfers, close the account, or change account settings like the mailing address. Some banks also cap how much a teen can withdraw from an ATM per day—often $500 to $1,000, though this varies. A few banks require parental approval before the teen can make an online purchase over a certain amount, though this is less common.
The restrictions exist because the bank is protecting itself legally—a minor cannot be held to certain contracts, so the bank limits the teen's ability to enter into them. As your teenager approaches 18, these restrictions usually lift automatically, and the account converts to a standard adult account.
Overdraft and fees: what actually costs money
Most teen accounts and minor accounts do not include overdraft protection, meaning if your teenager spends more than they have, the transaction will be declined rather than approved with a fee. This is actually a protection—it prevents surprise overdraft charges.
However, some banks do offer overdraft protection on minor accounts, which means the bank will cover the overage (usually up to a limit) and charge a fee—typically $25 to $35 per overdraft. You can usually turn this off when you open the account or request it be disabled.
Monthly maintenance fees vary widely. Many banks charge nothing for teen or minor accounts. Others charge $5 to $10 per month, though they often waive the fee if your teenager maintains a minimum balance (usually $100 to $500) or sets up direct deposit. Check the fee schedule before opening—this is one of the easiest ways to save money.
When your teenager turns 18
The account automatically converts to a standard adult account on your teenager's 18th birthday or shortly after. The parent's name usually remains on the account as a co-owner unless you both agree to remove them. At that point, your teenager can make all decisions about the account independently, and the bank will no longer require parental approval for anything.
If you want to remove yourself from the account after your teenager turns 18, contact the bank and ask for the removal process. Some banks allow this online; others require a visit to a branch or a phone call. There is usually no fee, but the process may take a few business days.
Where to open an account: banks, credit unions, and online options
Traditional banks (Chase, Bank of America, Wells Fargo, Citibank) all offer minor accounts. They have physical branches, which can be helpful if your teenager needs to deposit cash or speak to someone in person. Monthly fees range from $0 to $10, and ATM access is usually broad because of the bank's network.
Credit unions often have lower fees and sometimes offer better rates on savings accounts. If you are a member, your teenager may be able to join as well. Credit unions typically offer minor accounts with no monthly fee and no overdraft fees.
Online banks and fintech companies (Greenlight, Current, Fidelity, Ally) specialize in teen accounts and often have no monthly fees, built-in spending controls, and parent monitoring apps. They do not have physical branches, so cash deposits require a mobile check deposit or a trip to an ATM. These are good if your teenager is comfortable with digital banking and you want detailed spending oversight.
Frequently Asked Questions
Does my 17-year-old need their own Social Security number?
Yes. The bank will ask for it during account opening. If your teenager does not have one, you can request one from the Social Security Administration before opening the account. The process takes about two weeks.
What happens if my teenager loses the debit card?
Call the bank when ready and report it lost or stolen. The bank will cancel the card and issue a replacement, usually within 5 to 10 business days. Most banks do not charge a fee for replacement cards. In the meantime, your teenager can still access their money through online banking or ATM withdrawals if they have a PIN.
Can my 17-year-old have their own account without me on it?
No. At 17, a minor cannot enter into a banking contract alone, so a parent or guardian must be on the account. This requirement ends when your teenager turns 18.
Will this account affect my teenager's credit score?
No. A checking account does not appear on a credit report and does not affect credit scores. Credit scores are based on borrowed money (credit cards, loans), not on checking accounts. However, if the account goes negative and the bank sends it to collections, that could eventually affect credit.
Can my 17-year-old get a debit card with this account?
Yes. Most banks issue a debit card automatically when the account opens, or your teenager can request one. The card works like any other debit card—swipe it to make purchases, use it at ATMs, and check the balance online.