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A person typically has to be 18 to open their own bank account. That said, there are many options if you want to open a bank account for a child. In general, a bank account can be started at any age — as long as a parent or a guardian serves as a joint account holder.

Opening a bank account can help kids gain hands-on money skills and learn how a bank account works.

What Age Can You Open a Bank Account?

How old do you have to be to open a bank account? Usually, a person has to be 18 to open their own account. However, there isn’t a federal law that sets a minimum age at which you can have a bank account. Each state can have its own regulations regarding accounts for young savers and, depending on the state, financial institutions also may have the ability to set their own rules.

If you’re interested in opening an account and are unsure of age requirements, you may want to contact a few different financial institutions to ask if they have an account that suits your needs.

Can a Minor Open a Bank Account?

Usually, you must be 18, or the age of majority in your state, to open a bank account without a parent or guardian. But there are ways in which a minor can open a bank account and have his or her name on it. Some popular options include:

Custodial Accounts

A custodial account is an account an adult opens on behalf of a minor. The money held in the account belongs to the minor but is controlled by the custodian — usually a parent — until the minor reaches the age of majority (typically 18 to 21, but it may vary by state). There are a few different types of custodial accounts, including savings, educational savings, and investment accounts.

With this type of account, the minor won’t be able to access funds on their own, and they won’t be issued an ATM card. Generally, a custodial account changes over to an individual account when the child reaches adulthood.

Joint Accounts

A joint account may be possible, listing both a minor’s name and an adult’s name as co-owners, and they have equal control of the account. In some cases, the child must be between the ages of 13 and 17. In other cases, a younger child may be able to be a joint account holder, but perhaps with fewer privileges.

If the goal of the account is to help a minor learn financial responsibility or to give them control over their own money — but with an adult’s guidance — this might be the right choice. These accounts usually offer the parent the ability to monitor and control the account to some degree. For instance, the parent might set spending limits and get notified of transactions.

When minors reach the age of majority, they may choose to keep a joint account, but they also may want to transfer the account to just their name. As another option, they can open a new, individual account that better suits their current needs.

Recommended: Tips to Improve Your Money Mindset

Can a Minor Withdraw Money from a Bank Account?

If you’re wondering if a minor can withdraw money from a bank account, the answer is: It depends. With a custodial account, it is likely that the child cannot touch the money. The adult likely maintains control until the child reaches majority and becomes the account owner.

However, with a joint account, the child may be able to deposit and withdraw funds, just as the adult on the account can. That said, parental monitoring and controls can often be set up. In some cases, the child needs to be a certain age to withdraw money, or they might be unable to deposit or transfer money, as is the case with U.S. Bank.

What Age Can You Get a Debit Card?

Typically, checking accounts for kids and teens offer debit cards. The age at which a minor can get a debit card will be determined by the bank offering the account. This feature may only be available to teens, but some banks (such as Chase with its Chase First Banking program) allow six-year-olds and up to get debit cards.

There are also options like prepaid or secured debit cards that can be used by kids. Acorns Early offers them to children as young as age 6 to help them learn money management skills, while Greenlight says there is no minimum age for its debit card. It is likely, however, that you will find plenty of parental monitoring and controls in place, so it’s not as if the child can spend all their money on a whim.

What Will I Need to Open a Bank Account?

Whether you plan to open a bank account online or in person, you can expect to be asked for identification and certain types of documentation. Most account applications are straightforward and easy to complete; still, you may save some time by confirming that you meet all the criteria for a particular type of account before you get started.

You may have to provide the following information and documents when you set up a bank account:

•   Government-issued photo identification, such as a valid driver’s license or passport

•   Social Security number or other identification number

•   Contact information, including your full name, address and phone number

•   Proof of address, such as a utility bill or some other type of official document with your current address (you can print an online statement if you receive paperless bills and documents)

•   Student bank accounts may require proof of school enrollment, such as a student ID or acceptance letter

•   Joint account holders should be ready to provide required documents for all parties named on the account

This can mean that you may need one or more of the following forms of ID for the child who will be on the account:

•   Social Security card

•   Birth certificate

•   Passport

•   School photo ID

•   Immunization record

In addition to the above items, a minimum deposit to open an account may be required.

Recommended: How to Open a Bank Account

What to Consider When Choosing a Bank Account

Your goals for the account and how much participation you want the child to have can help you decide between a savings account vs. a checking account and between a custodial account or joint account.

Some other things to keep in mind as you compare accounts include:

Access

If you and/or your child expect to make frequent deposits and withdrawals, you may want to be sure the account comes with access to a large ATM network, easy online banking, or a convenient branch location.

Account Minimums

Many banks and credit unions have minimum balance requirements for savings and checking accounts. If you and your child would struggle to meet that threshold, you may want to look for an account that has a low or no minimum balance requirement.

APY

Earning interest isn’t necessarily a top priority with a bank account, but every little bit helps. Learning how an annual percentage yield (APY) works and how interest is calculated can be a good teachable moment for kids. What’s more, watching their money grow can be educational and motivational for young savers.

Recommended: APY Calculator

Customer Support

Does the financial institution have a reputation for reliable and helpful customer service? This could be important if you have questions or need help with disputing a transaction.

Fees

Fees can quickly eat away at a teen’s hard-earned money, especially if they’re using a non-network ATM to make withdrawals. You may want to find accounts that offer no or low monthly fees, ATM fees, overdraft fees and non-sufficient funds (NSF) fees.

Online/Mobile Experience

Whether you prefer online vs. traditional banking, be sure to check out the financial institution’s web and mobile platforms. It’s likely both parent and child will be using these tools on a regular basis.

Parental Protections

Though having a checking or cash management account can be a big step toward financial independence, it can be wise to put some parental controls on a minor’s account. Many accounts allow parents to monitor their child’s transactions so they can offer timely guidance.

Security

Will the money in the account be insured by the FDIC or NCUA? Will your personal and financial information be protected from unauthorized access with two-factor or multi-factor authentication? If one of your reasons for using a bank account is to keep your money safe, these can be important questions to ask.

Opening a Checking Account vs Savings Account for a Minor

As you consider options for opening a bank account for a minor, you may be faced with the decision of whether to go with a checking or a savings account. Here are some key differences to be away of; they can help you find the right fit:

The Takeaway

Though there is likely a minimum age to open a bank account on your own (typically 18), minors may be able to share a joint account with a parent or guardian until then. There are several types of accounts that kids and their parents might consider depending on their needs and goals, so it’s important to do a little research before choosing an account. Once a child is of legal age, they can shop for an account that suits their needs.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

What is the youngest age to open a bank account?

In terms of at what age you can open a bank account, there’s no single rule. Typically, though, you must be age 18 or the age of majority in your state to have your own account. But, via joint accounts and custodial accounts, even younger individuals can have some banking privileges.

How do I open a bank account for a minor?

To open a bank account for a minor, you typically need various forms of identification, proof of residence, and an opening deposit. If the minor will share the account, they will need to provide identification as well.

Can a child get a debit card?

A child can get a debit card as part of the features of many joint accounts for minors. You may find them for kids as young as age six. There are also some secured or prepaid debit cards for minors, some with no minimum age available.

Photo credit: iStock/Chaay_Tee
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

SOBNK-Q325-038

Renting a car with a debit card is possible at certain car rental agencies, but you may have to jump through a few additional hoops, such as paying a large deposit or undergoing a credit check. Agencies may also impose certain restrictions, such as being over age 25 and having a debit card with a Visa or Mastercard logo.

Here are key things to know about renting a car with a debit card, including which companies accept debit cards, the pros and cons of using debit vs. credit, and alternatives ways to pay for a rental car.

Is It Possible to Rent a Car With a Debit Card?

So, can you use a debit card to rent a car? Yes! You’ve just got to find rental car agencies that accept debit cards. Though company policies can change, and also vary by location, these are among the agencies that typically allow drivers to rent a car without a credit card:

•   Alamo

•   Avis

•   Budget

•   Dollar

•   Enterprise

•   Hertz

•   Thrifty

Keep in mind that rental car companies that accept debit cards often have additional requirements and restrictions for customers who choose to pay this way.

For example, the company might require a large security deposit and run a credit check on you. You may also have to provide multiple forms of identification, be at least 25 years old, and/or have a debit card with a common logo, like Mastercard, Visa, American Express, or Discover. Airport rental agencies may have additional requirements for renting a car with a debit card, such as proof of return travel.

In addition, the rental company will likely place a debit card hold (equivalent to the total estimated cost of the rental, plus some extra funds for security), which will limit the funds available in your checking account. The hold on the account will be removed after the car is returned and all fees are paid.

It’s a good idea to call the specific location where you hope to rent a car using a debit card. You can then make sure you understand what requirements must be met in order to reserve and pay for the car. In some cases, a rental agency will allow you to use your debit card to pay your final rental bill after you return the car, but require a credit card to make the car reservation.

Recommended: Cheapest Ways to Rent a Car

Why Do Many Car Rental Companies Require a Credit Card?

While many rental car companies will let you rent a car with a debit card, they generally prefer that you use a credit card. The reason is that credit cards offer multiple types of assurances to a rental car agency. For starters, a credit card signals to them that you are trustworthy and responsible — two traits that a company might value before lending you a $25,000+ piece of heavy machinery.

Credit cards also enable rental car companies to collect money for any repairs, tickets, tolls, and other fees. Because of the open line of credit on the card, the rental agency knows it can charge you for incidentals as necessary — without requiring a large security deposit from you up front.

Recommended: Can You Use a Debit Card Online?

Pros of Renting a Car With a Debit Card

Renting a car with a credit card certainly seems easier, but are there advantages to using a debit card? Definitely. Here are some of the pros of using a debit card to rent a car:

•   No credit card necessary: The biggest advantage is also the most obvious. If you can’t qualify for a credit card or simply don’t want one, using a debit card allows you to rent a car without needing a line of credit.

•   No credit card interest: If you pay your credit card off in full each month, you probably aren’t worried about credit card interest. But if you suddenly have a major charge for a car rental, you might be tempted to just make your minimum payment on your credit card — and rack up interest. By paying with a debit card, you don’t risk accruing credit card interest.

•   No impact on credit utilization: High credit utilization can drive down your credit score. By using a debit card, you won’t tap into any of your available credit. However, if the agency runs a credit check for debit card users, the hard inquiry could impact your credit score temporarily.

Cons of Renting a Car With a Debit Card

Though it’s possible to rent a car with a debit card, this payment method can have drawbacks. Here are some of the biggest downsides of renting a car with a debit card:

•   Fewer perks: By swiping your debit card, you may be missing out on credit card travel insurance offered to cardmembers. If you have a rewards credit card that earns cash back or points for every purchase, you may also be leaving money on the table by using a debit card.

•   Security deposit: When using a debit card, you’ll often have to pay the full cost of the rental up front. On top of that, an agency may hold additional funds as a security deposit. This could reduce the cash you have available to spend while on your travels.

•   Credit check: Without a credit card, the rental car agency may perform a credit check before handing over the keys. This can result in a hard inquiry on your credit report.

•   More hoops to jump through: In addition, rental agencies may require multiple forms of ID, might have age requirements, and may even need to see proof of scheduled return travel to allow you to pay with a debit card.

Is It Better to Rent a Car With a Debit or Credit Card?

Do you need a credit card to rent a car? Not necessarily. If you cannot qualify for a credit card or do not want one, renting with a debit card may be the right choice for you.

That said, using a credit card can offer some perks. Doing so is likely the better approach for many drivers since it won’t require putting a large hold on the funds in your bank account, may have built-in car insurance, and won’t necessitate a credit check by the agency.

Is It Safer to Rent a Car With a Debit or Credit Card?

Renting a car with a credit card is generally safer than renting a car with a debit card. One reason is that it can be more challenging to dispute charges with a debit card compared to a credit card. In addition, your credit card may also offer rental car insurance as part of its perks, meaning extra protection on the road.

Alternatives to Car Rentals With Debit Cards

While you can use a debit card to rent a car, here are some alternative payment options you may want to consider:

•   Using a credit card: The main alternative is paying for a car rental with a credit card. In fact, this is usually the better option for the driver and the rental agency.

•   Riding with another driver: If someone else in your party has a credit or debit card and is willing to pay for the rental, let them get behind the wheel. Many companies allow customers to add additional drivers to the rental contract, though it may involve a fee.

•   Paying with a prepaid card or cash: While rental car agencies will likely require a credit or debit card to secure the rental, some agencies may allow you to pay with a prepaid card, money order, or even cash at the end of the rental agreement — once the car has successfully been returned.

Recommended: Common Misconceptions About Money

Ways to Protect Yourself While Renting a Car

Renting a car can be stressful, but it also enables you freedom to travel, allows you to put miles on a car that isn’t yours during road trips, and may come in handy when your vehicle is being worked on. Here’s how you can protect yourself when renting a car:

•   Research the car before driving it: Once you know the year, make, model, and trim of your rental, you can research it online to understand any nuances to how it works, especially if you aren’t accustomed to newer safety technologies. The owner’s manual should be in the glove compartment and is worth reviewing if you’re uncomfortable driving an unfamiliar vehicle.

•   Carry insurance: Before renting a car, it’s a good idea to check with your car insurance agent and your credit card company to see what coverage you have. If you don’t have coverage for the rental through any other means, make sure you opt in for the insurance offered by the rental agency.

•   Follow the rules of the road: You should always abide by traffic laws, but they’re especially important when you’re learning a new vehicle. If you’re traveling in a foreign country, it’s a good idea to study their laws and traffic signs at home before your trip.

The Takeaway

Renting a car with a debit card is possible, but you’ll miss out on some of the perks of paying with a credit card — like potential cashback rewards and car insurance. Plus, rental agencies may require you to fulfill more requirements to get behind the wheel, like paying a security deposit or agreeing to a credit check.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

Which rental car companies allow you to use a debit card?

Alamo, Avis, Budget, Dollar, Enterprise, Hertz, and Thrifty are just some of the rental car companies that allow you to pay with a debit card. However, these and other rental car companies may have stricter rules and requirements for renting a car with a debit card vs. a credit card, such as requiring a credit check or a larger security deposit.

Are there any restrictions when renting a car with a debit card?

Each rental car company may have its own restrictions when you rent a car with your debit card. For example, they may require you to be 25 or older, pay a large security deposit, and/or agree to a credit check. It’s a good idea to call the specific agency before arriving to understand what you’ll need in order to rent a car with a debit card.

What is the process of renting a car with a debit card?

Rental agencies have varying processes for renting a car with a debit card. It’s a good idea to check online and even to call the specific agency to understand the process ahead of time. In general, companies may require full payment plus a security deposit up front, they may run a credit check, and they might want to see multiple forms of identification. If you’re renting at an airport, they may also require you to provide proof of a return plane ticket.

Photo credit: iStock/Khaosai Wongnatthakan

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

SOBNK-Q325-020

At some point in your financial life, you’ll likely want to sign over a check to someone else instead of depositing it or cashing it. For example, you might want to endorse a check you received and give it to your landlord as part of your rent payment.

To sign a check over to someone else isn’t hard, but you do need to follow the right protocol. Here’s a quick guide on how to sign over checks to someone else, plus some factors to consider before accepting a check that has been endorsed to you.

5 Steps to Signing Over a Check

Generally, when someone writes you a check, you (the payee of the check) are the only person who can cash it or deposit it into your bank account.

But can you sign a check over to someone else? Yes. These five steps detail how to sign a check over to someone else (you may hear a check that’s been signed over referred to as a “third-party check,” incidentally).

1. Make Sure the Check is Still Good

Before you begin the process of signing over a check, it’s a good idea to take a look at the date it was written by the payer, especially if the check has been lying around for a while.

How long are checks good for? Generally, checks are good for six months. After that, the bank may refuse to accept it.

It’s worth noting that this is true for both business and personal checks.

If the bank does accept a check older than six months, the check could potentially bounce if the issuer no longer has the funds in their account.

2. Get the Okay From the Recipient

Before endorsing a check to a third party, whether that’s a person, a business, or a landlord, it can be wise to first reach out to that third party and confirm that they are open to accepting this form of payment.

When moving through the signing over process, it’s important that you and the recipient both agree to the transfer.

3. Verify the Bank Will Allow the Signed Over Check

Banks often have different rules and requirements when it comes to accepting third-party checks.

To help ensure the process will go smoothly, it can be a good idea to call the recipient’s bank and ask about their policies before you endorse the check.

That way, you can avoid adding extra signatures and names to the back of the check (which can create confusion and delays if you later need to cash or deposit it somewhere else).

You may also want to find out what kind of identification the recipient will need to bring to the bank or if there is anything special they should do or know before going to the bank.

4. Endorse the Check Correctly

The next step in how to sign a check over is to endorse or sign it. Checks that typically come in your checkbook have an area on the back that reads “Endorse Check Here.”

On the line just below that, you will want to sign your name in pen, writing it just as it appears on the front of the check.

Underneath your signature, you’ll then want to write, “Pay to the order of [Recipient’s name].”

It’s a good idea to clearly write out the recipient’s name as it appears on their driver’s license or other photo identification they will use at the bank when depositing the check.

Checks often say “do not write, stamp or sign below this line” beneath the endorsement area. You’ll want to try to avoid running into this area. If you do, the bank may refuse the check.

Recommended: How to Write a Check to Yourself

5. Transfer the Check

Once you’ve endorsed the check, you will have a “third party check” that you can give to the person you signed it over to so that they can cash or deposit the check into their bank account.

While it may not be essential, you may also want to consider accompanying the recipient to their bank with your own photo identification to ensure it’s a seamless transaction and in case the bank teller has any questions.

If you decide you will be going to the bank together, you may want to hold off signing over the check until you get there. That way, you can endorse the check right in front of the teller after showing your ID.

Can You Deposit Someone Else’s Check in Your Account?

Depending on your bank, you may or may not be able to deposit or cash a check that has been signed over to you.

As mentioned above, some banks might not want to accept an endorsed-to-you check because there’s a chance it could be a fraudulent check. Many check-cashing places won’t accept this form of a check either.

That’s why it’s a good idea to check with your bank before accepting a third-party check as a form of payment.

In addition, you may want to keep the following considerations in mind before accepting a signed-over check as opposed to one written directly to you.

•  They can be less convenient. Unlike a regular check, you typically can’t deposit a third-party check at an ATM or upload it via your bank’s mobile deposit app. Getting the check cashed or deposited generally requires a trip to the bank.

•  It could be a scam. There are lots of fake check scams out there (see below for more details).

•  It could potentially bounce. Even if you know and trust the person who is signing the check over to you, there may still be a bit of risk involved. That’s because you can’t be certain the original person who wrote the check has the funds to cover it. If they don’t, it will be a case of the check bouncing, and you won’t get the money.

Alternatives to Signing a Check Over to Someone

Perhaps you discover that your bank won’t take a third-party check. Or what if the person you wanted to sign a check over to says “no thanks”? Now what? Try these options instead.

Use a Money Transfer App

If you wanted to sign a check over to someone because you are trying to pay them, you could instead deposit the check and use a money transfer app, such as PayPal, Venmo, or Cash App.

Open a Bank Account

If the reason you want to sign over a check is that you don’t have a place to deposit it, you could open a free checking account. Or, if you have had issues with your banking in the past (such as too many overdrafts or an account being closed by your bank), you might look into what is known as a second chance checking account. These can have some restrictions but allow you access and may eventually be transitioned to a standard checking account.

Try a Check-Cashing Business

If you received a check but don’t have an account to deposit it into and you need to get funds to someone, you could try a check-cashing business. However, while this can be a convenient option, the fees can be quite high.

Recommended: What Is an Electronic Check (E-Check)?

Do All Banks Accept Third-Party Checks?

Not all banks accept checks signed over to someone else. That is why it can be a smart move to find out if the bank in question allows this before you try to go this route. You or the person to whom you signed over a check could wind up discovering that the check is not accepted for deposit once you arrive at the bank. Or it could be rejected if mobile or ATM deposit is used.

Also, if the bank does accept these checks and you are going the in-person route to deposit it, you may want to ask what sort of identification may be required. You may need some additional ID in order for the check to be cashed or deposited.

Watch Out for Check Cashing Scams

Third-party checks may be used as a ploy in fraudulent transactions, so be wary. You could become a victim of one if someone you don’t know offers to sign over a check to you (often for a large amount) as payment or in exchange for cash. For instance, if you were selling a used mobile phone for $400 and a person offers to sign over a check for $500 to you and tells you to keep the excess, that’s a major red flag.

That’s why it can be wise to only accept an endorsed check from a person you know and trust or verify the check before depositing.

Opening a Checking Account With SoFi

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

How can you cash a check that is not in your name?

If you want to cash a check that is not in your name, you could have the person to whom the check is made out endorse the check to you. Then, make sure that your bank will accept it. Another option is to request a new check from the payor if it was mistakenly made out to the wrong name. Or contact your bank for guidance.

Can you mobile deposit a check signed over to you?

It is likely that you can mobile deposit a check that has been signed over to you, but it can be wise to double-check your financial institution’s policies to be sure.

Can someone deposit a check for you without your signature?

Generally, banks require a signature on the back to deposit a check. If someone is depositing a check for you, it will likely need to say “For deposit only” and have your signature to be accepted.

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.

¹SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

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Direct deposit can be a convenient way to receive funds and can take from mere moments to a few days to go through.

Direct deposit can be a convenient way to get paid or otherwise receive funds without the hassle of checks or setting up payment apps and then transferring funds to your bank.

How Does Direct Deposit Work?

Direct deposit allows someone to electronically send money from their bank or financial institution directly into someone else’s bank account.

The money is sent via the Automated Clearing House (ACH) network, which transfers money between banks and financial institutions.

ACH transfers eliminate the need to send physical checks or cash. These transfers can also happen almost instantaneously because they’re digital and you don’t need to worry about things like proving that a check is legitimate. That means direct deposit can be faster and more convenient. In some cases (as with payroll), your financial institution may even offer early access to the funds, up to two days before the scheduled date.

Most employers now offer direct deposit as an option, and, in some states, even require it. Employers typically find direct deposit convenient because they can process payroll much faster without having to deal with issuing, signing, and mailing checks.

Direct deposit is a popular way to get your paycheck, but that isn’t the only use. It may also be the way you get a tax refund, Social Security benefits, unemployment benefits, investment-related dividends, as well as other payments.

Recommended: How Long Does It Take a Mobile Deposit to Clear?

How Do You Set Up Direct Deposit?

Setting up direct deposit is likely to be very simple — and fast. If you’re wondering how long it takes to set up direct deposit, all you have to do is fill out a direct deposit authorization form. Typically, this just takes a few minutes, provided you have the right information on hand (such as bank account and routing numbers; more on that below).

This usually happens on your first day of work, but you can often choose direct deposit or change your information later on. Some companies handle this process entirely online and some use a third party to sign you up.

When setting up a direct deposit, especially at a new job, you’ll want to remember to have the following information available to make it as simple as possible:

•   Your bank account number(s) and type of account

•   Bank routing number

•   Bank name and address

•   Whether you’re putting money in a checking or savings account

•   How much of your paycheck you want to deposit in the account (you may want to split the deposit; read on for details)

•   A blank, voided personal check

Much of this information can all be found on a personal check, by checking your banking website or app, or by contacting your financial institution directly.

Splitting Your Direct Deposit

If you want to split your paycheck between multiple accounts, you can typically add each account to the direct deposit form and specify how much of your pay should go into each. Most forms ask what percentage of your pay goes into each, instead of just a dollar value. You may need to fill out a new form for each account.

For example, you might designate a set amount of money to move automatically into whatever kind of savings account you have, while leaving what you know you’ll need in checking for bills and smaller payments.

It’s up to you, of course, to determine how much of your paycheck to save; many financial experts recommend 10%.

How Long Does It Take to Get Direct Deposit?

Signing up for direct deposit can be done in minutes. However, it may not take effect for a few weeks or even more because the payor has to confirm your bank account information.

With your employer, direct deposit may take one or two pay cycles to become active. During that time, you may receive a paper check as payment instead.

In some cases, an employer may hire an employee at the start of the pay cycle so that the direct deposit authorization process is done just in time for the new employee to receive their first payment via direct deposit.

Recommended: What to Do If Your Check Is Lost or Stolen?

Is Direct Deposit Instantaneous?

Exactly when you will have access to your direct deposit income will depend on the entity issuing the funds and perhaps your financial institution that receives the funds.

For example, if your employer uses payroll software to process your paycheck and send the transfer, they’ll set a pay date, which might be a day or two before your regular payday.

That’s the date the funds will be transferred into your bank account, and you can typically access the funds by the end of that day.

That said, other direct deposits may process on a different timeline. The funds could take one to three days to become available. To learn how long direct deposits take to post to your account, you can contact your bank directly, or watch to see what time of day the first few direct deposits come into your account.

Advantages of Direct Deposit

Receiving your paycheck or other income via direct deposit can simplify your life.

You won’t have to worry about waiting for a check or making time to take the check to the bank for deposit. And, you typically have access to your money sooner, since you don’t have to wait for a check to clear.

Direct deposit also makes it easier to stay on top of your personal finances because you know exactly when money is coming into your account.

This accuracy can help you manage your money and work towards short-term financial goals, such as paying all your bills on time or saving for an upcoming expense.

If you know when you have access to your paycheck, for example, it’s possible to schedule your other bills or an automatic transfer to your savings account soon after the direct deposit is scheduled.

Other advantages of direct deposit include:

•   Your bank might waive your account maintenance fee if you receive regular direct deposits.

•   It reduces the risk of check fraud or identity theft from a lost or stolen check.

•   You can’t lose or misplace the funds.

•   Electronic records don’t clutter drawers or fill file cabinets.

•   You can easily track your paychecks and make sure none have been missed, since there is an electronic record of each payment in one place.

The Takeaway

Direct deposits are a convenient, electronic way to receive funds, and this can be instantaneous or take a few days. This process is typically used when an employer, government agency, or other third party instructs its financial institution to digitally deposit funds into your spending or savings account on a specific date.

Direct deposit can make it easier to keep track of your finances, pay bills on time, and avoid negative balances and overdraft fees.

Looking for more ways to simplify your financial life?

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

How long does direct deposit take to hit a bank account?

Direct deposit can happen almost instantaneously, but it can also take one to three days to hit your bank account, depending on factors such as bank holidays and weekends.

Why has my direct deposit not hit yet?

If your direct deposit hasn’t hit in one to three days, check with your bank. It could be that there is a hold on your account or your account is new or overdrawn, or that the sum is large enough to warrant additional review.

Is direct deposit available immediately?

A direct deposit should be available within one business day if it’s made via an electronic transfer. In some cases, direct deposits can be available almost immediately; in others, it can take up to three days.

About the author

Julia Califano

Julia Califano is an award-winning journalist who covers banking, small business, personal loans, student loans, and other money issues for SoFi. She has over 20 years of experience writing about personal finance and lifestyle topics. Read full bio.

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