You can open a bank account at 17, but the account will be in your name with a parent or guardian as a co-owner
Most banks will not let you open an account alone until you turn 18. At 17, you have two realistic paths: open a joint account with a parent or guardian listed as the co-owner, or open an account through a bank or fintech company that offers teen accounts specifically designed for your age.
The joint account route is the most straightforward. Your parent or guardian goes to the bank with you, both of you sign the paperwork, and the account opens in both names. You can use the debit card, make deposits, and manage the account day-to-day. Your parent or guardian can see all transactions and has equal control—they can withdraw money, freeze the account, or close it without your permission.
Teen accounts work differently. Companies like Greenlight, Current, and Fidelity Youth offer accounts designed for people under 18. These accounts are still technically under parental control, but they give you more independence in how you use the money. Your parent sets up the account and funds it, but you control spending through a debit card and app. Some teen accounts let you set savings goals, earn interest, or learn about investing—features a standard joint account may not offer.
Key Takeaways
- At 17, you cannot open a bank account in your name alone; a parent or guardian must be a co-owner or account holder.
- A joint account at a traditional bank is the simplest option and requires both you and your parent to visit a branch with ID and proof of address.
- Teen accounts through fintech companies offer more features like spending controls and savings tools, but still require parental setup and oversight.
- Once you turn 18, you can convert a joint account to a solo account or open a new account entirely in your name.
- Both joint accounts and teen accounts give you a debit card and the ability to build a banking history before adulthood.
How a joint account works at 17
A joint account means two people own the account equally. You and your parent or guardian both have signing authority, both can withdraw money, and both appear on the account statements. The bank treats either of you as the account owner.
To open one, visit a bank branch with your parent or guardian. Bring a government-issued ID (a state ID or passport), proof of address (a utility bill or lease in your parent's name), and your Social Security number. Some banks ask for a second form of ID. The process takes 15 to 30 minutes. You will walk out with a debit card, usually within 5 to 10 business days.
The main limitation is that your parent or guardian has full access. They can see every transaction, transfer money out, or close the account. This is by design—the bank needs an adult responsible for the account. If you and your parent disagree about how the money is used, they have the legal right to intervene.
Teen accounts: more independence, still supervised
Teen accounts are offered by online banks and fintech companies, not traditional brick-and-mortar banks. They work because the parent or guardian is the primary account holder, but you get a debit card and app access that lets you spend and save independently within limits your parent sets.
Greenlight, Current, and Fidelity Youth are common examples. Setup happens entirely online—your parent creates an account, links a funding source (their bank account or credit card), and adds you as an authorized user. You read the app, and your debit card arrives in the mail within a few days.
The appeal is control. Your parent can set daily spending limits, block certain types of purchases (like in-app games), and turn the card on or off when ready. Some teen accounts let you earn interest on savings, set financial goals, or learn about investing through the app. A traditional joint account at a bank does not usually offer these features.
The trade-off is that these accounts are not FDIC-insured the same way a bank account is. Most reputable fintech companies hold your money in a partner bank and carry insurance, but the protection is not identical to opening an account directly at a bank. Read the fine print before you choose.
What happens when you turn 18
At 18, you become a legal adult and can own a bank account in your name alone. If you have a joint account, you can ask the bank to remove your parent or guardian as a co-owner. The bank will let you do this without closing the account—your parent straightforward signs a form, and the account becomes yours.
If you have a teen account through a fintech company, you can usually convert it to an adult account, or you can open a new account elsewhere. The conversion process varies by company, so check their website or call to ask what happens at 18.
Having a bank account at 17 gives you a head start. By 18, you will have a banking history, a debit card you know how to use, and a relationship with a bank or fintech company. That history matters when you later want to open a credit card or take out a loan.
Documents you need to bring
| Document Type | Why the Bank Needs It | Examples |
|---|---|---|
| Government-issued ID | Proves your identity | State ID, passport, driver's license |
| Proof of address | Confirms where you live | Utility bill, lease, mortgage statement (in your parent's name is fine) |
| Social Security number | Required for tax reporting and fraud prevention | You can provide it verbally or on the process form |
| Parent or guardian ID | Proves the co-owner's identity | State ID, passport, driver's license |
Banks that make it straightforward to open an account at 17
Most major banks allow joint accounts with minors, but some are more straightforward than others. Chase, Bank of America, Wells Fargo, and Citibank all offer accounts for 17-year-olds with a parent co-owner. Call your local branch or check their website to confirm current policy, because rules change.
If you want a teen account instead, research the company's age requirements first. Greenlight accepts ages 6 and up, Current accepts ages 13 and up, and Fidelity Youth accepts ages 13 and up. Each has different fees (some charge monthly, some are free) and different features, so compare before you pick.
Credit unions are another option. Many credit unions have lower fees than banks and are more flexible about account rules. If your parent belongs to a credit union, ask whether they offer accounts for minors—many do.
What you cannot do at 17, even with an account
Opening a bank account does not give you the right to borrow money. You cannot take out a loan, get a credit card in your name, or overdraft your account (go negative). If you want to build credit, you will need to wait until 18 or ask your parent to add you as an authorized user on their credit card—a different process entirely.
You also cannot remove your parent or guardian from a joint account before you turn 18. The bank will not allow it. Once you are 18, you can, but not before.
If your account is a teen account through a fintech company, you are limited by the spending controls your parent sets. You cannot override those limits or change them yourself—only your parent can.
Frequently Asked Questions
Can I open a bank account at 17 without my parent knowing?
No. Banks require a parent or guardian to be present and sign paperwork for anyone under 18. If you are in a situation where you cannot tell your parent, talk to a school counselor, trusted adult, or local youth services about your options. Some organizations help young people in unsafe situations.
What if my parent refuses to help me open an account?
If your parent will not cooperate, you have limited options at 17. Some teen fintech accounts let a guardian other than a parent set them up—a grandparent, aunt, or uncle. If that is not possible, you will need to wait until you turn 18. At that point, you can open an account in your name alone at any bank.
Do I need a Social Security number to open an account at 17?
Yes. Banks use your Social Security number for tax reporting and to check fraud databases. If you do not have one, you can explore for one at your local Social Security office or online at ssa.gov. The process takes a few weeks.
Will opening an account at 17 hurt my credit?
No. Opening a bank account does not affect your credit score. Credit scores are based on borrowing and repayment history, not on having a checking or savings account. A bank account is separate from credit.
Can I use a teen account to save money my parent does not know about?
Not really. Your parent set up the account and can see all transactions through their own app or account dashboard. Teen accounts are designed to teach financial responsibility while keeping parents informed. If you want privacy, you will need to wait until you turn 18 and open your own account.