What you can do at 17 depends on the bank, not your age alone

Yes, you can open a bank account at 17 at most major banks and credit unions in the United States. However, the account will be a minor account — which means a parent or guardian must be listed as the account owner alongside you, or must co-sign the paperwork. You cannot open a fully independent account in your own name alone until you turn 18.

Some banks let you open what looks like your own account at 17, but the legal owner is still your parent or guardian. Others require them to be a joint owner, meaning they can see all transactions and withdraw money. A few banks have special teen accounts that give you more independence while keeping a parent in the loop. The rules vary by bank, so you need to check with the specific institution you want to use.

Key Takeaways

  • You can open a bank account at 17, but a parent or guardian must be the account owner or co-signer.
  • Different banks handle teen accounts differently — some give you a debit card and online access, others restrict what you can do.
  • At 18, you can convert a minor account to a fully independent account, or open a new one in your name alone.
  • You will need a Social Security number, proof of identity, and proof of address to open any account.

How a minor account works

A minor account is a regular checking or savings account with one key difference: the bank requires an adult to be responsible for it. That adult is usually called the custodian or co-owner. The custodian can see your balance, review your transactions, and in most cases withdraw money from the account.

The custodian is not necessarily your parent — it can be a grandparent, aunt, uncle, or any adult over 18 who is willing to take on the responsibility. However, most people use a parent because the bank often requires the custodian to live with you or be your legal guardian. Check with your bank about who can serve as custodian.

When you turn 18, you can usually convert the account to your own name without closing it or moving your money. The bank will remove the custodian from the account, and you become the sole owner. Some banks do this automatically; others require you to visit a branch or call to request the change.

What documents you need to bring

To open a minor account, you and your custodian will both need to bring identification to the bank. Bring your Social Security number (or have it memorized) and a form of ID — usually a school ID, state ID, or passport. Your custodian will need a government-issued ID like a driver's license or passport.

You will also need proof of your current address. This can be a utility bill, lease, or mortgage statement in your name or your parent's name. Some banks accept a school ID with your address printed on it. Call the bank branch ahead of time to ask exactly what they accept, because the rules vary.

Both you and your custodian will need to sign the account paperwork in person at a branch. Some banks now allow you to open an account online with a parent's help, but you may still need to visit a branch to verify your identity or activate a debit card.

The differences between banks

Chase, Bank of America, Wells Fargo, and other large national banks all offer teen checking accounts, but the features differ. Chase's teen account gives you a debit card and online access to check your balance and set up transfers, but your parent can see all transactions. Bank of America's teen account works similarly but includes a savings component. Credit unions often have more flexible rules — some let you open an account at 16 with a parent, and a few offer accounts with fewer restrictions on what you can do.

The main differences to look for are: whether you get a debit card, whether you can use ATMs, whether you can set up direct deposit, whether your parent can see individual transactions, and whether there are monthly fees. Some teen accounts are free; others charge $5 to $10 per month. Ask the bank to show you a fee schedule before you open the account.

Online banks like Ally, Charles Schwab, and Discover do not offer teen accounts — they require you to be 18 to open an account in your own name. If you want to bank online at 17, you will need to use a traditional bank or credit union.

Why a parent or guardian must be involved

Banks require an adult on minor accounts for legal reasons. Until you turn 18, you are not considered an adult in the eyes of the law, which means you cannot sign a binding contract — and opening a bank account is a contract between you and the bank. The bank needs an adult to sign the agreement and take legal responsibility if something goes wrong.

The custodian is also responsible if the account goes negative or if there are disputes. If you overdraw the account and the bank cannot collect the money from you, they can pursue the custodian. This is why banks take the custodian's credit history and banking record into account when deciding whether to approve the account.

What happens when you turn 18

On your 18th birthday, you become a legal adult and can own a bank account in your own name. You do not have to do anything on that exact day, but you should convert your minor account to an adult account within a few weeks. Contact your bank and ask how to remove the custodian from the account. Most banks can do this over the phone or at a branch; some require you to visit in person.

When the custodian is removed, the account becomes yours alone. Your parent or guardian will no longer be able to see your transactions or withdraw money. The account number and routing number usually stay the same, so any direct deposits or automatic payments will continue without interruption.

If you want to switch banks after you turn 18, you can open a new account at a different institution and transfer your money. You do not have to stay with the bank you used at 17.

What you can and cannot do at 17

At 17, you can deposit money into your account, use your debit card to make purchases, withdraw cash from ATMs, and check your balance online. You can set up direct deposit if your employer offers it, which means your paycheck goes straight into your account. Most teen accounts let you do these basic things without restriction.

What you usually cannot do at 17 is open a credit card in your own name, take out a loan, or set up certain types of transfers without your custodian's approval. Some banks restrict how much money you can withdraw per day or how many transactions you can make per month. A few banks require your parent to approve large purchases or transfers. Ask your bank what restrictions apply to your specific account.

Frequently Asked Questions

Can I open a bank account at 17 without my parents knowing?

No. Because you are a minor, the bank requires a parent or guardian to be present and sign the account paperwork. You cannot open an account without their knowledge or consent. If you are in an unsafe situation, talk to a school counselor or trusted adult about your options.

What if my parent refuses to co-sign?

If your parent will not help you open an account, talk to another trusted adult — a grandparent, aunt, uncle, or school counselor. Any adult over 18 can serve as your custodian. If no adult in your life is willing or able to help, some credit unions have programs for young people in difficult situations; call your local credit union and ask.

Can I have two bank accounts at 17?

Yes. You can open accounts at multiple banks as long as you have a custodian for each one. Some people open one checking account for everyday spending and one savings account to set aside money. Just remember that each account may have its own monthly fee, so check the costs before opening multiple accounts.

Will opening an account at 17 affect my credit score?

No. Opening a checking or savings account does not build or hurt your credit score. Credit scores are based on borrowed money — loans and credit cards — not on bank accounts. You can open a bank account at any age without affecting your credit.

What if I want to close the account before I turn 18?

You can close a minor account at any time, but your custodian usually has to be present or approve the closure. Visit your bank branch with your custodian and ask to close the account. They will give you the remaining balance in cash or transfer it to another account. Any direct deposits or automatic payments linked to the account will stop.