You cannot open a savings account in someone else's name without their permission and involvement
Banks require the account owner to be present, provide identification, and sign the account agreement themselves. Even a parent cannot open a savings account solely in a child's name without the child being part of the process—though the rules for minors are different from adults. A spouse, adult child, or other family member cannot walk into a bank and create an account that belongs to you without your knowledge or consent. Doing so would constitute fraud.
What you can do is open an account with someone else as a joint owner, or open an account in your own name and later add them as an authorized user or joint account holder. The distinction matters because it changes who owns the money, who can withdraw it, and what happens if the relationship ends or someone dies.
Key Takeaways
- Banks require the person whose name is on the account to provide identification and sign the account agreement in person or electronically.
- A joint account means both people own the money equally and can withdraw it; an authorized user can access the account but does not own the funds.
- For minors, a parent or guardian opens a custodial account in the child's name, but the adult controls it until the child reaches the age of majority.
- If you want to save money for someone else without their involvement, you must open the account in your own name and keep separate records of what belongs to them.
Joint accounts versus authorized users
A joint account is owned by two or more people equally. Both account holders can deposit and withdraw money, and both have full access to the funds. If one person dies, the money typically passes to the surviving account holder automatically, depending on how the account is titled. If the relationship ends—a divorce, a business partnership dissolution—both people have a legal claim to the balance, which can create disputes.
An authorized user is someone you add to your existing account after it is already open. They can access the account and make transactions, but they do not own it. You remain the sole owner. If you remove them, they lose access when ready. If you die, the account does not automatically pass to them. Banks vary in what they allow authorized users to do—some permit full access, others restrict certain transactions. You should ask your bank what permissions come with authorized user status before adding someone.
If you want to open an account with someone else, both of you must go to the bank together, or both must sign documents electronically if the bank offers online account opening. Both people will need to provide identification and agree to the terms. The bank will ask how you want the account titled—as joint tenants with rights of survivorship, tenants in common, or another structure—and this choice affects what happens to the money if one person dies.
Custodial accounts for minors
For children under 18, you can open a custodial savings account in the child's name with yourself as the custodian. The account belongs to the child legally, but you control it until they reach the age of majority—usually 18, sometimes 21 depending on your state and the bank. You can deposit money, make withdrawals, and manage the account on their behalf.
When the child turns 18 (or 21), the account transfers to their control. They become the sole owner and you lose access. Some banks require the young person to come in and sign new paperwork; others transfer it automatically. You should ask your bank what the transition process looks like before opening the account, so you understand what happens when the child reaches that age.
A custodial account is different from a joint account with a minor. In a joint account, the child has equal ownership and access rights from the start, which can create problems if you later disagree about how the money is used. A custodial account keeps control with the adult until a specific date, which is usually clearer for both parties.
Saving money for someone else in your own name
If you want to set aside money for someone else but do not want to give them access to it yet, or if they are not able to open an account themselves, you can open a savings account in your own name and keep your own records of what portion belongs to them. This is common when a grandparent saves for a grandchild's education, or when someone saves money to help a family member with a future expense.
The risk is that the money is legally yours. If you die, it becomes part of your estate and may not go to the person you intended. If you face a lawsuit or creditor claim, the money can be seized. If you change your mind, you can spend it without their consent. To reduce these risks, you can write a will or trust that specifies the money is meant for them, but that document does not prevent you from spending it while you are alive.
Some people use a separate savings account or a dedicated savings tool (like a high-yield savings account or certificate of deposit) to keep this money visually separate from their own spending money, which makes it less likely they will accidentally spend it. You should also keep written records—a note in your files, a spreadsheet, or a letter—documenting that the money is intended for the other person, in case questions arise later.
What happens if you want to add someone to an existing account
Most banks allow you to add a joint owner or authorized user to an account that is already open. You typically go to the bank in person or call and request the change. The bank will ask for the other person's identification and may require them to sign a form, depending on whether you are adding them as a joint owner (which usually requires their signature) or as an authorized user (which policies vary).
Adding someone as a joint owner gives them full ownership rights retroactively—they own the entire balance, not just future deposits. This can have tax and legal consequences. If you are adding a spouse, this may be straightforward. If you are adding an adult child or other family member, consider whether you want them to have access to the entire balance or only to make transactions going forward.
If the bank requires the other person to come in, you will both need to be present. If they live far away, ask whether the bank can mail documents for them to sign and return, or whether they can sign electronically. Some banks have restrictions on who can be added—for example, some do not allow minors to be joint owners, only authorized users.
Identification and documentation the bank will need
Whoever is opening the account or being added to it will need to provide a government-issued photo ID—a driver's license, passport, state ID card, or similar document. The bank will verify the person's identity and may run a background check through ChexSystems or Early Warning Services, which are banking history databases.
If you are opening a joint account, both people need to provide ID. If you are adding someone to an existing account, they need to provide ID. The bank will also ask for a Social Security number or tax ID for anyone whose name is on the account, because they report interest earned to the IRS.
If the person does not have a government ID, ask the bank what alternative documents they accept. Some banks will take a passport card, a tribal ID, a military ID, or other forms of identification. If someone has no ID at all, some banks have programs for unbanked individuals, though the process is more involved and may require additional documentation like a utility bill or lease agreement.
What you cannot do, and why it matters
You cannot open an account in someone else's name without their knowledge or consent. You cannot forge their signature on account documents. You cannot claim to be them to a bank representative. These actions are fraud and can result in criminal charges, civil liability, and a permanent record that makes it harder for you to open accounts or borrow money in the future.
You also cannot open an account for someone who is deceased, or use someone's identity after they die without going through the proper legal process (which involves the executor of their estate or a court order). Banks have strict identity verification procedures specifically to prevent this.
If you are concerned that someone is trying to open an account in your name without permission, contact your bank when ready and place a fraud alert with the credit bureaus. You can also file a report with the Federal Trade Commission at reportfraud.ftc.gov.
Frequently Asked Questions
Can a parent open a savings account for a child without the child being present?
Yes. Parents can open custodial accounts in a child's name without the child present. The parent provides their own ID and the child's Social Security number. The account belongs to the child, but the parent controls it until the child reaches 18 or 21. Some banks may require the child to sign documents when they turn 18.
What happens to a joint account if one person dies?
It depends on how the account is titled. If it is titled as "joint tenants with rights of survivorship," the surviving account holder automatically owns the entire balance. If it is titled as "tenants in common," the deceased person's share becomes part of their estate. Ask your bank which option applies to your account when you open it.
Can I add someone to my account without them knowing?
No. Banks require the person being added as a joint owner to provide identification and sign documents. If you are adding them as an authorized user only, policies vary—some banks may allow it without their signature, but you should not do this without their knowledge, as it violates trust and may be considered fraud depending on your state.
What if I want to save money for someone but do not want them to access it yet?
Open the account in your own name and keep written records of what portion belongs to them. Consider a separate account to keep the money visually distinct. Write a will or letter stating your intent, though this does not prevent you from spending it while alive. A custodial account works if the person is a minor.
Can I open a joint account online?
Many banks offer online joint account opening, but both people must complete the process and provide identification electronically. Some banks still require at least one person to visit a branch in person. Check with your bank about their specific process before you start.