What you need before you start

Opening a joint savings account requires both account holders to be present (in person or online) with valid identification and proof of address. Each person needs a government-issued ID—a driver's license, passport, or state ID card. You'll also need proof that you live at the same address: a recent utility bill, lease, mortgage statement, or bank statement dated within the last 60 days works at most banks.

Decide together which bank or credit union you want to use. Not all financial institutions offer joint accounts, and the features vary—some charge monthly fees, others waive them if you maintain a minimum balance. Check whether the bank allows online account opening for both parties or requires you both to visit a branch in person. Some banks let one person start the account online and add the other person later, but this creates delays and sometimes complications with access rights.

You'll also need to decide on the account structure before you walk in or log on. This determines what happens to the money if one account holder dies and who can withdraw funds without the other person's permission. The two most common structures are "joint tenants with rights of survivorship" (JTWROS) and "tenants in common." With JTWROS, if one person dies, the surviving account holder automatically owns all the money. With tenants in common, the deceased person's share goes through their estate, which takes longer and may involve probate.

Key Takeaways

  • Both account holders must provide a government-issued ID and proof of current address; most banks accept utility bills or recent bank statements as proof.
  • Decide on account structure (JTWROS or tenants in common) before opening, because it determines what happens to the money if one person dies.
  • Some banks require both people to be present in person; others allow one person to open the account online and add the second person later.
  • Monthly fees, minimum balance requirements, and interest rates vary by bank, so compare options before committing.
  • Both account holders receive debit cards and online access, and either person can withdraw the full balance without permission from the other.

In-person account opening at a bank branch

Walk into the branch together with both IDs and proof of address. Tell the banker you want to open a joint savings account and mention the account structure you've chosen. The banker will ask for your Social Security numbers, date of birth, and current employment information. They'll also ask how you want to be contacted—by phone, email, or mail—and whether you want online banking set up when ready.

The banker will show you the account options available at that bank: savings accounts with different interest rates, minimum balance requirements, and fee structures. Ask about monthly maintenance fees, overdraft fees (if the account can go negative), and whether the bank charges to add or remove an account holder later. Some banks waive fees if you set up direct deposit or maintain a certain balance; others charge the same fee regardless.

Once you've chosen an account type, you'll both sign the signature card and any other documents the bank requires. The banker will give you temporary debit cards or tell you when they'll arrive by mail. You'll receive login credentials for online banking, usually printed on a receipt or sent by email. Ask the banker to confirm that both account holders have full access to the account online and can see all transactions.

Opening an account online

Many banks now allow you to open a joint account through their website or mobile app without visiting a branch. One person starts the process by entering their name, address, Social Security number, and ID information. The bank will ask you to upload a photo of your ID and proof of address—take clear photos of both sides of your driver's license and a recent utility bill or bank statement.

After the first person completes their section, the bank sends an invitation to the second account holder via email or text. The second person logs in, verifies their identity (usually by answering security questions or confirming recent transactions on their credit report), and provides their own ID and address information. Some banks require the second person to upload ID photos as well; others use the security questions as sufficient verification.

The entire process usually takes 10 to 15 minutes per person, but account set up can take one to three business days. During this time, the bank is verifying your identity through third-party services and checking for fraud. You'll receive confirmation by email when the account is active, and you can log in to set up online transfers and order debit cards. Debit cards typically arrive by mail within 7 to 10 business days.

What happens after the account opens

Both account holders can when ready transfer money into the account using online banking, mobile app, or by visiting a branch. You can set up direct deposit from your employer so paychecks go straight into the joint account. You can also link the account to another bank account you own and transfer money electronically—this usually takes one to three business days for the first transfer and is when ready for transfers after that.

Each person receives their own debit card, which they can use to withdraw money or make purchases. There is no daily withdrawal limit that applies only to one person; either account holder can withdraw the entire balance without asking permission or notifying the other. This is important to understand before you open the account, because it means you're trusting the other person completely with access to all the money.

You can also set up alerts so both account holders get notified when the balance drops below a certain amount, when a large withdrawal happens, or when a check clears. These alerts help catch fraud or unauthorized use quickly. Most banks allow you to set different alert thresholds for each person, so one person might get an alert at $500 and the other at $1,000.

Adding or removing an account holder later

If you want to add a second person to an account that was opened in one person's name, visit the bank branch or call customer service. The bank will ask the new person to provide ID and proof of address, just as if they were opening a new account. Some banks charge a fee to add an account holder; others do it for free. The process usually takes one to three business days.

Removing an account holder is more complicated. You cannot straightforward remove someone without their knowledge or consent—the bank requires both people to agree in writing. If you and the other person disagree, you'll need to close the joint account and open separate accounts instead. The bank will divide the money according to what you both agree to, or if you cannot agree, according to your state's laws on joint property.

If one account holder dies, the surviving person's access depends on the account structure. With JTWROS, the surviving person can continue using the account when ready. With tenants in common, the bank may freeze the account while the estate is being settled, which can take weeks or months. This is why choosing the right account structure at the beginning matters.

Fees and features to compare

Joint savings accounts vary widely in cost and features. Some banks charge $5 to $15 per month for a joint account; others charge nothing. Some waive the fee if you maintain a minimum balance (often $500 to $2,500) or set up direct deposit. A few banks charge a fee only if the account falls below the minimum balance, not every month.

Interest rates on savings accounts are currently low across most banks—typically 0.01% to 0.05% annually—but some online banks and credit unions offer higher rates, sometimes 4% to 5%. The difference matters if you're saving a large amount. A $10,000 balance earning 0.01% makes $1 per year; the same balance at 4.5% makes $450 per year. Compare rates at your current bank, online banks, and local credit unions before deciding.

Ask about other features: Can you set up automatic transfers between accounts? Can you link the account to external accounts at other banks? Does the bank offer overdraft protection, which automatically transfers money from another account if the balance goes negative? Do they charge for wire transfers or cashier's checks? These features don't matter to everyone, but they matter to some people, so check what you actually need.

Frequently Asked Questions

Can I open a joint account if we're not married?

Yes. Banks do not require marriage to open a joint account. You can open one with a spouse, partner, family member, friend, or business partner. The bank only requires both people to provide ID and proof of address.

What if one person wants to close the account?

Either account holder can close a joint account unilaterally at most banks, but the bank will divide the money according to your state's laws on joint property—usually 50/50 unless you can prove otherwise. If you want to prevent this, you need a written agreement between both people before opening the account, and you should consult a lawyer about how to structure it.

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

Not always. Many banks allow one person to open the account online and add the second person later, though this takes extra time. Some banks still require both people to visit the branch in person. Call your bank or check their website to see which option they offer.

What if I want to remove someone from the account later?

You cannot remove someone without their consent. Both account holders must agree in writing, or you must close the account and open separate ones. If you and the other person disagree, your state's laws on joint property will determine how the money is divided.

Is a joint account the same as adding someone as an authorized user?

No. An authorized user on your account can use a debit card and make withdrawals, but the account remains in your name only. A joint account holder is a legal owner of the account and the money in it. The difference matters if the account holder dies or if you want to remove them later.