What you need to do to open a joint account

Opening a joint bank account requires both account holders to visit a bank or credit union in person, bring identification, and sign paperwork together. The process takes between 15 minutes and an hour depending on the institution and whether you already have an account there. You will leave with a debit card, online access, and a shared account number that both of you can use when ready.

The bank will ask for a Social Security number from each person, proof of identity (a driver's license or passport), and proof of address (a recent utility bill or lease). If either of you has a history of unpaid accounts or fraud, the bank may decline to open the account or place restrictions on it. Some banks also run a check through ChexSystems, a banking history database, before approving new accounts.

You do not have to be married, related, or in any particular legal relationship to open a joint account. Spouses, business partners, adult children and aging parents, roommates, and others can all hold joint accounts together. The bank's only requirement is that both people be at least 18 years old and able to provide identification.

Key Takeaways

  • Both account holders must visit the bank together with a government-issued ID and proof of address; the process usually takes under an hour.
  • The bank will run a background check through ChexSystems and verify your Social Security number, and may decline if either person has unpaid accounts or fraud history.
  • You can open a joint account at any bank or credit union; you do not need to be married or related to the other person.
  • Decide in advance whether you want both people to have equal access to withdraw and transfer money, or whether one person will manage the account.
  • Once the account is open, both people can use the debit card and online banking when ready, and the bank will report activity to both credit reports.

Choosing between banks and credit unions

Banks and credit unions both offer joint accounts, but they differ in fees, minimum balances, and how they handle disputes. Most large banks (Chase, Bank of America, Wells Fargo, Citibank) charge monthly maintenance fees unless you keep a minimum balance, usually between $500 and $2,500. Credit unions, which are member-owned nonprofits, typically charge lower or no monthly fees and require a smaller minimum balance or none at all.

If you already have an account at a bank, opening a joint account there is faster because the bank already has your information on file. You may still need the other person to come in, but the paperwork is shorter. If neither of you has an account anywhere, compare the monthly fee, minimum balance requirement, and whether the bank offers online bill pay and mobile check deposit—features you will likely use if you are sharing finances.

Credit unions require you to be a member before you can open an account. Membership is usually free and based on where you live, work, or go to school. If you may have access to for membership at a credit union, it is often the cheaper choice for a joint account.

What type of joint ownership to choose

Joint tenants with rights of survivorship (JTWROS) is the most common structure for joint accounts. Both people own the account equally, can withdraw or transfer any amount without permission from the other person, and if one person dies, the surviving person automatically owns the entire account. This structure is straightforward but means either person can empty the account without the other's knowledge.

Tenants in common is less common for bank accounts but available at some institutions. Each person owns a specific percentage of the account (50/50, 60/40, or any split you choose). If one person dies, their share goes to their estate or whoever they named in their will, not automatically to the other person. This structure protects each person's ownership stake but is more complicated to manage.

Most couples and family members choose JTWROS because it is simpler and ensures the surviving person can access the money when ready after death without waiting for probate. Business partners or people who want to keep their ownership shares separate often choose tenants in common. Ask the bank which structures they offer—not all do—and which one the bank recommends for your situation.

Documents and information to bring

Bring originals or certified copies, not photos. The bank will not accept a photocopy of your driver's license or a screenshot of your utility bill. Here is what each person needs:

  • A government-issued photo ID (driver's license, passport, or state ID card)
  • Proof of current address dated within the last 60 days (utility bill, lease, mortgage statement, or bank statement)
  • Your Social Security number (you will write it on the process)
  • Information about your employer and job title (the bank may ask but does not always require it)

If you have recently moved, bring the new proof of address. If you do not have a utility bill in your name, a lease, a mortgage statement, or a recent bank statement will work. Some banks also accept a government benefits statement or a letter from your employer on company letterhead.

If either person has a name that differs from their ID (due to marriage, divorce, or legal name change), bring a certified copy of the marriage certificate, divorce decree, or court order showing the name change. The bank will not open the account until the names match what is on file.

What happens after you sign the paperwork

The bank will give you a temporary debit card on the spot or mail one within 5 to 10 business days. You can set up online banking when ready using the bank's website or app, and both people can log in with their own username and password. The account number is the same for both people—there is only one account, not two separate accounts linked together.

Deposits made by either person go into the same account. Withdrawals, transfers, and bill payments made by either person come from the same balance. If one person spends $500, the other person will see that the balance is $500 lower. There is no way to hide transactions from the other person unless one of you lies about what you spent.

The bank will report the account activity to both people's credit reports. Payments made on time help both credit scores; missed payments or overdrafts hurt both. If the account goes negative, both people are responsible for paying back the overdraft fee, even if only one person caused it.

Changing or closing a joint account

If you want to remove one person from the account, you both have to go back to the bank together and sign new paperwork. The bank will not remove someone based on a phone call or email from only one person. If the other person refuses to come in, you will have to close the account and open a new one in your name alone, then transfer your share of the money out.

Closing a joint account requires both people to sign off unless the account is already empty and has no pending transactions. If one person closes the account without the other's permission, the bank may reverse the closure if the other person contacts them within a certain window (usually 30 days). After that, the account is closed and cannot be reopened.

If you and the other person separate or have a dispute, contact the bank when ready to discuss your options. Some banks will freeze the account pending a court order; others will not. The bank's policy depends on whether both people request the freeze or only one. If you have a legal dispute over the money, you may need a lawyer or a court order to resolve who owns what.

What to do if the bank declines your process

Banks decline joint accounts most often because of ChexSystems history—unpaid overdraft fees, fraud, or closed accounts due to negative balances. If the bank gives you a reason, ask whether it is permanent or whether you can reapply after a certain time. Some banks will reconsider after 12 months if you have had no new incidents.

If one person has a ChexSystems issue, try opening the account at a bank that does not use ChexSystems or that is more lenient about history. Smaller regional banks and credit unions are sometimes more flexible than national chains. You can also request your ChexSystems report for free at www.chexsystems.com and dispute any errors before reapplying.

If both banks decline you, consider opening the account in only one person's name and giving the other person a debit card or access to online banking. This is not a true joint account, but it allows both people to use the money. The person whose name is on the account is legally responsible for any overdrafts or fraud, so make sure you trust the other person completely.

Frequently Asked Questions

Do we have to be married to open a joint account?

No. Banks do not require any legal relationship. Unmarried couples, adult children and parents, roommates, business partners, and any two adults can open a joint account together as long as you both have identification and can visit the bank in person.

Can one person close the account without the other's permission?

One person can request to close the account, but most banks will not process the closure if the other person contacts them and objects. If the account is closed, the bank may reopen it if the other person calls within 30 days. After that, the account is permanently closed and the money must be divided or disputed in court.

What happens if one person dies?

If the account is set up as joint tenants with rights of survivorship (JTWROS), the surviving person automatically owns the entire account and can access it when ready. If it is set up as tenants in common, the deceased person's share goes to their estate and may take weeks or months to transfer. Ask the bank which structure you have when you open the account.

Can the bank freeze the account if we have a dispute?

The bank can freeze the account if both people request it or if a court orders it. If only one person asks the bank to freeze it, the bank's policy varies—some will, some will not. If you have a legal dispute, contact a lawyer about getting a court order to protect your share of the money.

Will opening a joint account affect our credit scores?

Opening the account itself does not affect your credit score. However, the bank may do a hard inquiry, which can lower your score by a few points temporarily. Once the account is open, on-time payments help both scores, and missed payments or overdrafts hurt both scores equally.