Can I Open a Bank Account at 17 and How Does It Work?

In most states, you can open a bank account at 17 with a parent or guardian's signature. This is because you're considered a minor, and banks require an adult's permission to open an account in your name.

You can't open a bank account on your own at 17, but having a parent or guardian involved can make the process smoother. They'll need to provide identification and proof of address to open the account.

Some banks may have specific requirements or restrictions for minors, so it's essential to check with the bank before visiting a branch. For example, some banks may require a minimum balance or restrict certain account features for minors.

At 17, you've got options for opening a bank account on your own. You can consider a teen checking account, which is specifically designed for those in your age group. These accounts offer many features of a standard checking account and often convert into standard checking accounts once you become an adult.

Teen checking accounts require parental approval, however, so you'll need to get your parents on board. Some banks may have a minimum age for joint accounts, but others have no minimum. You can explore these options with your parents to find the best fit for your needs.

You can also consider specialized money apps for kids, which provide a tech-first alternative. These apps often have no minimum age requirement and allow you to have your own account with parental controls on spending.

At 17, you have several options for bank accounts. You can open a joint checking account with a parent or guardian, allowing both of you to make deposits, withdrawals, and purchases as needed. Some banks have a minimum age requirement for joint accounts, but others don't.

You can also consider a teen checking account, designed specifically for those between 13 and 17 years old. These accounts offer many features of a standard checking account and often convert into standard checking accounts once you become an adult.

Here are some types of bank accounts you can consider:

You can also explore junior/young person's accounts, current accounts, and basic bank accounts, which may be available to you at 17. These types of accounts offer varying features and benefits, so be sure to research and compare them before making a decision.

Opening a bank account is a great step for teens, and understanding the different types of accounts is key. A checking account is a must-have for everyday spending and bill payments.

You can think of a checking account as a hub for your money, where you can deposit, withdraw, and pay bills. This type of account is perfect for teens who need to manage their allowance or part-time job earnings.

A savings account, on the other hand, is designed for saving and earning interest. By opening a savings account, teens can start building good payment habits and develop a stronger sense of trust in financial institutions.

Here's a quick rundown of the differences between checking and savings accounts:

By choosing the right account type, teens can set themselves up for financial success and develop good habits that will serve them well into adulthood.

A 16-year-old can open a bank account, and there are several types to choose from.

Some banks may require a parent or guardian to co-sign the account, but others may allow 16-year-olds to open their own accounts independently.

A 16-year-old can have a Junior/young person's account, which is designed for children and young people under the age of 18. These accounts typically offer free banking and limited features.

Current accounts are another option, offering a wider range of features than Junior accounts, such as online banking and the option to set up Direct Debits.

Basic bank accounts are also available to 16-year-olds, often for those with no credit history or low credit scores.

Here are some types of bank accounts a 16-year-old can have:

To open a bank account at 17, you'll likely need to provide proof of identity, such as a passport, national identity card, or birth certificate. Some banks may also accept a UK full or provisional photo card driving licence, an NHS medical card, or a professional reference from a person in a position of responsibility.

You'll also need to provide proof of address, which could be a UK full or provisional photo card driving licence, an NHS medical card, an HMRC/Job Centre letter, a current child benefit letter, or a professional reference from a person in a position of responsibility.

Most banks will require a parent or guardian to co-sign the account, but some may allow 17-year-olds to open their own accounts independently.

To open a bank account for a 16 year old, you'll need to provide proof of identity and address.

The specific requirements vary from bank to bank, but most banks will accept a passport, national identity card, or birth certificate as proof of identity.

A UK full or provisional photo card driving licence is also commonly accepted, and for under 18s, some banks may accept additional documents such as an NHS medical card or a letter from HMRC or the Job Centre.

Here's a summary of the common documents accepted by banks:

A 16-year-old can apply for a bank account, but the requirements vary from bank to bank. Some banks may require a parent or guardian to co-sign the account.

You'll need to check with the specific bank you're interested in to see what their requirements are. Some banks may allow 16-year-olds to open their own accounts independently.

If you're 16 or older, Bank of America's SafeBalance Banking account lets you have sole ownership, as long as you apply as a student. This is a notable exception to the general rule.

To open a bank account as a 16-year-old, you'll usually need to provide proof of identity and address. This may include a driver's license, passport, or utility bill.

It's worth noting that some banks may require a parent or guardian to co-sign the account, even if you're 16 or older. Be sure to check with the bank before applying.

When considering types of accounts for minors, there are several options available. Savings accounts are a great way to save and grow money with interest, and can be opened for children as young as possible.

A savings account can be converted to a standard account when the child turns 18, but terms and conditions may vary across banks. It's essential to check with the bank before opening the account.

Digital banks from fintech companies offer debit cards for kids that promote financial responsibility through in-app features. Some debit cards may charge monthly service fees, so it's best to research and compare options.

Prepaid cards are a good alternative to debit cards, as they aren't connected to a bank account and can be loaded with money by a parent or guardian.

Here are the main types of accounts for minors: