What you can do at 17 depends on the bank and the account type

Yes, you can open a bank account at 17, but the rules vary by bank and by what kind of account you want. Most banks let you open a checking or savings account before you turn 18, though some require a parent or guardian to co-sign or be listed as a joint account holder. A few banks have accounts designed specifically for teenagers that you can open on your own. The real constraint is not your age—it is whether the bank has a product that fits.

The account itself works the same way as an adult account: you deposit money, write checks or use a debit card, and earn interest on savings. The difference is usually in who has legal control. If a parent is a co-owner, they can see all transactions and withdraw money. If they are a custodian or authorized signer, the rules depend on the bank's agreement. Once you turn 18, you can usually convert to a standard adult account or remove the co-owner, though you will need to contact the bank to make that change.

Key Takeaways

  • Most major banks let you open a checking or savings account at 17 with a parent or guardian as a co-owner or authorized signer.
  • Some banks offer teen-specific accounts that you can open without a parent present, though a parent still needs to authorize it.
  • You will need a Social Security number, proof of identity, and proof of address to open any account.
  • At 18, you can convert a teen account to a standard account or open a new one on your own without a co-owner.

Banks that let you open accounts at 17

Chase, Bank of America, Wells Fargo, and most regional banks allow 17-year-olds to open checking and savings accounts with a parent or guardian listed as a co-owner. The parent does not have to be present in person at all branches—many banks let you start the process online or by phone, though you may need to visit a branch to verify identity or sign documents. Some banks require the parent to be present; others do not. Call your bank's customer service line to ask what their specific process is.

If you want to open an account without a parent as a co-owner, look for teen-specific accounts. Greenlight, Step, and Current are apps designed for teenagers and let you open an account through your phone. You still need a parent to authorize and fund the account, but the parent is not a co-owner—they are a supervisor who can set spending limits and see transactions. These accounts come with a debit card and usually cost nothing per month. They are not FDIC-insured the way a bank account is, so your money is not protected by federal deposit insurance if the company fails.

What you need to bring or provide

To open an account at 17, you will need a Social Security number, a form of ID (a state ID, driver's license, or passport), and proof of your current address. Proof of address can be a utility bill, lease, or bank statement in your name. If you do not have a document in your name, a parent's utility bill with your name written on it usually works. Some banks also ask for a second form of ID or a phone number to verify.

If you are opening the account online, you may be able to upload photos of these documents. If you are opening it in person, bring the originals. If a parent needs to be present or to co-sign, they will need their own ID and Social Security number. Some banks ask for a small opening deposit—often $25 to $100—though many waive this for teen accounts or accounts opened online.

How a co-owner or authorized signer works

If your parent is a co-owner, they have equal legal rights to the account. They can withdraw money, close the account, change the PIN, and see all transactions. The account belongs to both of you. If your parent is an authorized signer or custodian, they have limited rights—usually they can see transactions and deposits, but cannot withdraw money or close the account without your permission. The exact rules depend on the bank.

Ask the bank which role they are offering before you open the account. Co-ownership is simpler for the bank to set up but gives your parent more control. An authorized signer role is better if you want more independence but still want your parent to monitor the account. When you turn 18, you can usually remove the co-owner or authorized signer by visiting a branch or calling customer service, though some banks require both of you to be present.

Fees and features to compare

Teen accounts at major banks usually have no monthly fee, no minimum balance, and no overdraft fees—banks often waive these for accounts held by minors. You get a debit card, online banking, and mobile app access. Some accounts come with a savings goal feature or interest on savings, though the interest rate is usually very low (under 0.5% per year).

Teen-specific apps like Greenlight and Step charge a monthly subscription ($5 to $15) but offer features like chore tracking, spending limits, and parental controls. They do not pay interest on savings. If you just want a basic checking account to deposit paychecks and spend money, a bank account is usually cheaper. If you want your parent to set spending rules or track where your money goes, an app account may fit better.

What happens when you turn 18

When you turn 18, you become a legal adult and can hold an account on your own. If your account has a co-owner, you can ask the bank to remove them and convert it to a standard adult account. This usually takes a few days and requires you to visit a branch or call customer service. If your parent is an authorized signer, you can ask the bank to remove that role so only you have access.

Some banks automatically convert teen accounts to adult accounts on your 18th birthday. Others require you to request the change. Check with your bank ahead of time so you know what to expect. If you want to switch to a different bank or account type at 18, you can open a new account and transfer your money over—this usually takes three to five business days.

Frequently Asked Questions

Do I need a parent to open an account at 17?

Most banks require a parent or guardian to be involved—either as a co-owner, authorized signer, or to authorize the account. Some teen-specific apps let you open an account with just parental authorization, not a co-owner. A few banks have no minimum age and let you open an account on your own at 17, but this is rare.

Can I use my account to get direct deposit from a job?

Yes. Once your account is open, you can give your employer your account number and routing number for direct deposit. This works the same way as an adult account. Your paycheck will arrive on the scheduled payday, usually within one to two business days of when your employer sends it.

What if I do not have a Social Security number?

You will need a Social Security number to open a bank account. If you do not have one, you can explore for one through the Social Security Administration website or at your local Social Security office. The process usually takes two to four weeks. Some banks may let you open an account with an ITIN (Individual Taxpayer Identification Number) if you are not a U.S. citizen, but this is uncommon.

Can my parent see all my transactions if they are a co-owner?

Yes. A co-owner has full access to the account and can see every transaction, balance, and deposit. If you want privacy, ask the bank about an authorized signer role instead, which usually limits what your parent can see and do. Once you turn 18, you can remove them entirely.

Is my money safe in a teen account at a bank?

Money in a bank account is protected by FDIC insurance up to $250,000 per account holder. If you are a co-owner with your parent, each of you is insured separately up to $250,000. Money in teen-specific apps is not FDIC-insured unless the app partners with a bank—check the app's website to see if it does.