Yes, but with a parent or guardian involved
A 17-year-old can have a checking account, but not independently. Banks and credit unions require a parent or guardian to co-own the account or sign off on it. The account will be in both names, and the adult has full access and control until the teenager turns 18. Some institutions call this a "teen checking account" or "youth account," though the mechanics are the same: it is a joint account with an adult.
The specific rules depend on the bank. Some allow the teenager to be the primary account holder with the parent as a co-owner; others list the parent first. Either way, both people can deposit and withdraw money, and both names appear on statements and the debit card. When the teenager turns 18, the account can usually convert to a single-name account, though some banks require a new process.
Key Takeaways
- A 17-year-old needs a parent or guardian to co-own the account; no bank will open a checking account for a minor alone.
- Both the teenager and the adult have full access to the money and can make withdrawals or transfers at any time.
- The parent can set spending limits on the debit card through the bank's app, even though they cannot prevent the teenager from visiting a branch to withdraw cash.
- At 18, the account usually converts to a single-name account without closing it or losing the account history.
- Different banks have different minimum balances, fees, and features—some waive fees for accounts under 18, others do not.
What you need to bring to open an account
Both the teenager and the parent must be present at the bank or credit union in person. Bring a government-issued ID for each person—a driver's license, state ID, or passport. The teenager's ID does not have to be a driver's license; a state ID or passport works. If the teenager does not have an ID yet, some banks will accept a school ID plus a birth certificate, but this varies by institution.
You will also need proof of address, usually a recent utility bill, lease, or mortgage statement in the parent's name. Some banks accept a bank statement or government mail instead. Bring the Social Security number for both people—the bank will run a background check on both the teenager and the adult. If either person has a history with ChexSystems (a banking record system), the bank may decline the account, though this is rare for teenagers.
A few banks now offer online account opening for minors, but they still require the parent to verify their identity through video call or by uploading documents. The teenager's ID still needs to be verified in person or through a video call at most institutions. Call ahead to ask whether your bank allows online opening for minors; if they do, you can skip the branch visit.
How spending limits and controls work
Most banks let the parent set a daily spending limit on the debit card through the mobile app or online banking. This limit typically ranges from $25 to $500 per day, depending on the bank. Once the teenager hits the limit, the card declines at the register or ATM. The parent can change the limit at any time, and the new limit takes effect when ready or within a few hours.
However, spending limits only explore to the debit card. If the teenager walks into a branch and asks to withdraw cash, the bank teller will hand it over—the parent cannot prevent this through the app. Some parents set a rule with their teenager that they will not withdraw cash without permission, but the bank cannot enforce it. If you want true control over cash, you would need to be the only one with access to the account, which defeats the purpose of the teenager having their own card.
Some banks also let you turn the debit card on or off remotely, set merchant categories the card can be used at (for example, gas stations only), or get alerts when the card is used. These features vary widely. Check the bank's website or ask a teller what controls are available before you open the account.
Fees and minimum balances
Many banks waive monthly maintenance fees for accounts held by someone under 18, but not all. Some charge $5 to $12 per month regardless of age. Others waive the fee only if you keep a minimum balance—often $100 to $500—or set up direct deposit. A few have no fees and no minimum at any age.
Overdraft fees vary too. If the teenager spends more than the account balance, some banks charge $25 to $35 per overdraft. Others decline the transaction instead, which costs nothing but can be embarrassing at the register. Some banks offer overdraft protection, which links the checking account to a savings account and transfers money automatically if the balance goes negative—this usually costs $1 to $3 per transfer.
ATM fees are another consideration. If the bank has few branches near you, out-of-network ATM withdrawals can cost $2 to $3 each. Some banks reimburse out-of-network fees; others do not. If the teenager will be withdrawing cash frequently, choose a bank with a large ATM network or one that reimburses fees.
What happens when the teenager turns 18
Most banks automatically convert the joint account to a single-name account on the teenager's 18th birthday or shortly after. The parent's name is removed, and the teenager becomes the sole owner. The account number, debit card, and routing number usually stay the same, so any direct deposits or automatic payments do not need to be updated. The account history remains intact.
Some banks require the teenager to visit a branch or confirm the conversion online. A few ask the teenager to sign new documents or open a new account entirely. Call your bank before the 18th birthday to ask what the process is. If the bank requires a new account, ask whether they will transfer the balance automatically or whether you need to do it manually.
If the parent wants to stay on the account after the teenager turns 18, they can request to remain as a co-owner. This is useful if the parent is helping pay for college or other expenses. However, once the teenager is 18, the parent cannot force this—the teenager can remove the parent's name if they choose.
Banks and credit unions that offer teen accounts
Most major banks offer some form of teen checking account. Chase, Bank of America, Wells Fargo, and Citibank all have programs, though the names and features differ. Credit unions often have teen accounts too, and some credit unions have lower fees or higher spending limits than banks.
Online banks like Ally, Charles Schwab, and Discover also offer accounts for minors, though the process is usually online rather than in-branch. These banks often have no monthly fees and no minimum balance, which can be cheaper than traditional banks. However, they have no physical branches, so the teenager cannot deposit cash in person—deposits must come through direct deposit, transfers, or mobile check deposit.
The best choice depends on what matters to you: low fees, no minimum balance, high spending limits, a large branch network, or strong parental controls. Compare a few banks in your area before deciding. Most banks let you see their fee schedules and account features online without opening an account.
Frequently Asked Questions
Can a 17-year-old open a checking account without a parent?
No. Every bank and credit union requires a parent or legal guardian to co-own the account or sign the paperwork. A teenager cannot open an account alone until they turn 18.
Can the parent see all the transactions on the teenager's debit card?
Yes. Both people on a joint account can see all deposits, withdrawals, and card transactions in the online banking app or by calling the bank. The parent has the same visibility as the teenager.
What if the teenager loses the debit card?
Call the bank when ready to report it lost or stolen. The bank will freeze the card to prevent unauthorized use and mail a replacement card, usually within 5 to 7 business days. The teenager can use the account online or visit a branch to withdraw cash while waiting for the new card.
Can a 17-year-old have a savings account instead of a checking account?
Yes. Savings accounts have the same co-ownership requirement as checking accounts, but they do not come with a debit card. The teenager can deposit and withdraw money in person or online, but there is no card to use at stores. Some teenagers have both a checking account (for everyday spending) and a savings account (for money they want to keep).
Does opening a checking account affect the teenager's credit score?
No. Opening a checking account does not build or hurt credit. Credit scores are based on borrowed money—loans, credit cards, and payment history. A checking account is just a place to store and spend money you already have.