What documents and information the bank will ask for

When you walk into a bank or explore online to open a joint account, you will need to bring or provide identification for both account holders, proof of your current address, and your Social Security numbers. The bank will ask for a government-issued ID — a driver's license, passport, or state ID card — for each person on the account. If you are explore in person, both of you should be present, though some banks now allow one person to start the process online and the other to verify later.

You will also need to prove where you live. A recent utility bill, lease agreement, or mortgage statement dated within the last 60 days usually works. The bank uses this to verify your identity and comply with federal anti-money-laundering rules. If you do not have a current address on file, a bank statement from another institution or a government document with your address can substitute.

Bring your Social Security number or Individual Taxpayer Identification Number (ITIN) for both account holders. The bank reports interest earned and other account activity to the IRS, so they need this information from the start. If either person does not have a Social Security number, some banks will still open an account with an ITIN, but policies vary by institution.

Key Takeaways

  • Both account holders need a government-issued ID, proof of current address, and a Social Security number or ITIN before the bank will open the account.
  • Most banks require both people to be present in person, though some allow one person to start online and the other to verify remotely.
  • The bank will ask how you want the account titled — whether both people own it equally, whether both must sign off on withdrawals, and what happens if one person dies.
  • You will choose a starting deposit amount, which ranges from zero to several hundred dollars depending on the bank and account type.
  • The entire process usually takes 15 to 30 minutes in a branch or a few hours online, and the account is ready to use the same day or within one business day.

How the account will be titled and what that means

The bank will ask you to choose how the account is titled, and this choice affects who can withdraw money and what happens if one person dies. The two most common structures are joint tenants with rights of survivorship and tenants in common. With joint tenants with rights of survivorship, both people own the account equally, either person can withdraw all the money without permission, and if one person dies, the surviving person automatically owns the entire account. With tenants in common, both people own it but in percentages you decide, and if one person dies, their share goes to their estate rather than to the surviving account holder.

Some banks also offer joint account with restrictions, where both people must sign or approve large withdrawals, or where only one person can withdraw money. Ask the bank what options they offer before you decide. The title you choose does not change later without both people's written consent, so think through what makes sense for your situation.

Starting deposit and minimum balance requirements

Most banks require a starting deposit to open the account, though the amount varies widely. Some banks ask for as little as $25 or $100, while others require $500 or more. A few banks have no minimum deposit at all. The starting deposit is your own money — it goes into the account when ready and counts toward your balance.

After the account opens, some banks require you to keep a minimum balance to avoid monthly fees. This minimum might be $500, $1,000, or higher depending on the account type and the bank. If your balance drops below the minimum, the bank charges a monthly maintenance fee, usually between $5 and $15. Read the fee schedule before you open the account so you know what to expect.

What happens during the process process

If you explore in person, a bank employee will verify both IDs, confirm your addresses, and ask you to sign signature cards. They will explain the account terms, show you the fee schedule, and ask which person will be the primary account holder (usually the person who receives statements and handles day-to-day management, though both people have equal access). They will then run a background check through ChexSystems, a banking history database, to see if either person has had problems with previous accounts.

If you explore online, you will upload photos of both IDs and proof of address, enter your Social Security numbers, and answer questions about your identity. The bank will send a verification link to both email addresses, and both people must click the link to confirm. Some banks then require you to visit a branch in person to complete the process, while others finish everything online. The entire process takes a few hours to a few days depending on the bank.

When the bank might decline to open the account

Banks can refuse to open a joint account if either person has unpaid overdrafts or negative balances at another bank, a history of fraud or identity theft, or an active ChexSystems report. If you have been reported to ChexSystems, you can request a copy of your report for free and dispute any errors. Some banks specialize in second-chance accounts and will work with people who have been declined elsewhere, though they may charge higher fees or require a larger deposit.

If one person is under 18, most banks will not open a joint account with an adult. Instead, they offer custodial accounts where an adult controls the account on behalf of a minor. If either person is not a U.S. citizen or permanent resident, they can usually still open an account with an ITIN, but some banks have stricter rules about non-citizens. Call ahead or ask online before you go in.

Debit cards, online access, and how to use the account

Once the account opens, the bank will issue a debit card for each person (or one card if you request it). Both cards draw from the same balance, so if one person spends $500, the other person sees that $500 gone when ready. You will both receive login credentials for online and mobile banking, and you can both see all transactions, transfer money, and set up bill pay. There is no separate approval step — either person can move money without telling the other.

Some banks let you set up alerts so both people get a text or email when the balance drops below a certain amount or when a large withdrawal happens. This is useful if you want to stay coordinated. You can also link the joint account to savings accounts, investment accounts, or other banks, though both people will need to agree on any changes to the account structure.

Frequently Asked Questions

Do both people have to be present to open the account?

Most banks require both people to be present in person, but some now allow one person to start the process online and the other to verify remotely through a video call or by visiting a branch later. Call your bank ahead of time to ask what they allow.

What if one person has bad credit or a ChexSystems report?

A joint account is not a credit product, so bad credit does not prevent you from opening one. However, if either person has a ChexSystems report or unpaid overdrafts, the bank may decline. You can request your ChexSystems report for free and dispute errors, or look for banks that offer second-chance accounts.

Can I change the account title or structure after it opens?

Yes, but both people must agree and sign new paperwork. You cannot change it unilaterally. If you want to remove someone from the account or change from joint tenants with rights of survivorship to tenants in common, contact the bank and ask what forms you need.

What if one person wants to close the account?

Most banks require both people to agree to close a joint account. If one person wants out, you can usually withdraw their share and close the account, or one person can close it and the other can open a new individual account with the remaining balance. The bank will tell you the process.

Do I need to report the joint account to the IRS?

No. The bank reports interest earned on the account to the IRS, but you do not file any special forms just because the account is joint. If the account earns more than $10 in interest in a year, the bank sends a 1099-INT form to both people.