Yes, 17-year-olds can open bank accounts, but the rules depend on the bank and the account type

Most banks will let you open a checking or savings account at 17, but you will need a parent or guardian to co-sign or be a joint account holder. Some banks allow you to open an account entirely on your own at 17; others require you to wait until 18. The specific rules vary by bank and by state, so the account you can open depends on which institution you choose and what they require.

The account itself works the same way as an adult account — you get a debit card, online access, and the ability to deposit and withdraw money. The main difference is that a parent or guardian may have visibility into the account or control over certain features until you turn 18, depending on the bank's policies.

Key Takeaways

  • Most major banks allow 17-year-olds to open checking or savings accounts with a parent or guardian as a co-signer or joint account holder.
  • Some banks, including certain online-only banks, allow 17-year-olds to open accounts independently without a parent present.
  • You will need a valid form of ID (usually a state ID or passport) and proof of Social Security number to open any account.
  • Once you turn 18, you can convert a joint account to your own or open a separate account without a co-signer.

Banks that allow 17-year-olds to open accounts independently

A handful of banks and financial institutions let you open an account at 17 without a parent or guardian present. Ally Bank, Charles Schwab, and Fidelity are among the institutions that offer accounts to minors without requiring a co-signer, though you will still need to provide your Social Security number and a valid ID. The process is usually done online or over the phone.

These accounts are typically full-featured — you get a debit card, online banking, and the same access to your money as an adult would have. However, the bank may restrict certain features (like wire transfers or international transactions) until you turn 18. Check the specific bank's website or call their customer service line to confirm what features are available for your age.

Banks that require a parent or guardian as co-signer

Most traditional banks — including Chase, Bank of America, Wells Fargo, and Citibank — require a parent or guardian to be a joint account holder or co-signer when you open an account at 17. This means a parent will have access to the account and may be able to see transactions, set spending limits, or freeze the account.

The parent or guardian will need to come to the bank in person with you, bring their own ID and proof of address, and sign the account paperwork. Some banks allow you to do this at a branch; others may offer online options where the parent verifies their identity remotely. Once you turn 18, you can usually convert the account to your own name only, though some banks require you to open a new account instead.

What you need to bring to open an account

Regardless of which bank you choose, you will need the same basic documents. Bring a valid photo ID — a state ID, passport, or school ID (if the bank accepts it) — and your Social Security number. If you do not have your Social Security card, you can provide the number from a tax document, W-2, or 1099 form.

If a parent or guardian is co-signing, they will need to bring their own valid photo ID and proof of current address (usually a utility bill, lease, or bank statement dated within the last 60 days). Some banks also ask for a phone number and email address. Call ahead to confirm what the specific bank requires — requirements vary slightly between institutions and sometimes between branches of the same bank.

What happens to the account when you turn 18

When you turn 18, you have several options. If the account is a joint account with a parent, you can ask the bank to remove the parent as a co-owner, leaving you as the sole account holder. This usually takes a few minutes at a branch or a phone call to customer service. Some banks do this automatically; others require you to request it in writing.

Alternatively, you can open a new account in your own name and transfer the money from the joint account. This is useful if you want to start fresh or if the bank does not allow you to remove a co-owner. Either way, once you are 18, the account is yours to manage without anyone else's permission or visibility.

Why a 17-year-old might want a bank account

A bank account at 17 gives you a place to deposit paychecks from a job, save money, and learn how to manage your own finances before you move out or go to college. It also lets you build a banking history — the record of how you handle accounts — which can matter later when you explore for a credit card or loan.

Having a debit card also means you do not have to carry cash, and you can make online purchases without asking a parent for their credit card. If you are working, direct deposit (where your employer puts your paycheck straight into your account) is usually faster and safer than getting a paper check.

Frequently Asked Questions

Can I open a bank account at 17 without my parents knowing?

If you use a bank that allows 17-year-olds to open accounts independently, yes — you can open an account without a parent present. However, if you are under 18 and live with your parents, they may find out when mail arrives or when they see your debit card. Banks that require a co-signer will not let you open an account without a parent or guardian present.

What if I do not have a state ID or passport?

A school ID may work at some banks, though it is not may provide. Your best option is to get a state ID from your local DMV or Department of Motor Vehicles — the process is usually quick and inexpensive. If you cannot get an ID before you need the account, call the bank and ask what alternative documents they accept.

Can I get a credit card at 17?

No. Credit cards require you to be 18 and have a credit history. At 17, you can use a debit card (which draws from money you already have in your account) or a secured credit card once you turn 18, which requires a cash deposit as collateral.

Will opening an account at 17 hurt my credit score?

No. Opening a bank account does not affect your credit score at all. Credit scores are based on credit activity — borrowing money and paying it back — not on having a checking or savings account. A bank account is separate from credit.

What if my bank closes my account after I turn 18?

Banks rarely close accounts when you turn 18. If yours does, it will notify you in writing and give you time to withdraw your money. This is uncommon, but if it happens, you can open a new account at a different bank when ready.