Good question. Banks have different policies about when teens need to have a joint checking account. Generally, teens younger than 18 years of age need to have joint accounts. Banks often require younger teens to have joint checking accounts as they have little experience with checking accounts. People who don’t have experience with checking accounts are more likely to bounce checks and make other costly mistakes. Requiring an older person to jointly own the account also make the adult responsible for the any fees that need to be paid.

 

If your bank requires you to have a joint checking account, take the opportunity to learn from the adult on the account how to correctly manage the checking account. Knowing the ins and outs of a checking account and using it correctly will save you a lot of money in fees from bounced checks and you will start building a good credit history.