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Compare 3-way joint bank accounts

Explore bank accounts for multiple users and how they work.

Most banks and credit unions allow for joint account owners on checking and savings accounts. And if you need an account for three people, some banks allow multiple debit cards for more than one owner.

Compare your joint account options

Narrow down top joint bank accounts by fees, APYs and opening deposits.
Name Product Fee Minimum deposit to open Annual Percentage Yield (APY) Offer
Discover® Cashback Debit
Finder Score: 4.8 / 5: ★★★★★
Discover® Cashback Debit
$0 per month
The Discover® Cashback Debit account earns 1% cash back on up to $3,000 in debit card purchases each month.
Axos Bank Rewards Checking
Finder Score: 4.2 / 5: ★★★★★
Axos Bank Rewards Checking
$0 per month
3.30% on balances of $0 to $50,000
Use promo code AXOS300 and apply by June 30th, 2024, to earn up to $300 bonus, $50 each month you meet requirements: Make direct deposits of $5,000+ each month for the first 7 months and maintain an average balance of $7,000.
Earn up to 3.3% APY after meeting rate requirements. Get ATM free reimbursements at all domestic ATMs. Pay $0 monthly or overdraft fees. FDIC insured.
Finder Score: 4.6 / 5: ★★★★★
From $0 per month
30 day free trial for Lili Pro, Lili Smart, and Lili Premium
Get paid up to two days early with direct deposit, automated savings, and no monthly fees with Lili Basic. Other packages include cashback rewards, 4.15% APY for savings, smart bookkeeping and financial reports, etc. FDIC insured.
Axos Bank Essential Checking
Finder Score: 5 / 5: ★★★★★
Axos Bank Essential Checking
$0 per month
Pay $0 monthly and overdraft fees, and get reimbursed for domestic ATM fees. No opening deposit or minimum balance requirement. Get your paycheck up to 2 days early with direct deposit. FDIC insured.
Chase Total Checking®
Finder Score: 3 / 5: ★★★★★
Chase Total Checking®
$12 per month
(can be waived)
New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.
Chase Total Checking® is easy to use and gives you access to more than 15,000 Chase ATMs and more than 4,700 branches. It offers a $300 signup bonus to new Chase customers. Member FDIC.

How many people can be in a bank account?

You can open a joint bank account with two, three, four, five or more people depending on the bank.
Joint accounts most commonly have two account holders, but it’s possible to add more. No matter how many joint owners, each person can deposit and withdraw funds.

When a 3-way joint bank account makes sense

A joint bank account makes the most sense for those who share expenses or frequently need to share funds. Common reasons why people open up joint accounts include:

  • Life partners or family members to manage income and expenses
  • Parents who want to monitor their children’s spending and transfer allowances
  • Roommates for shared living expenses
  • Business partners for easier money management
  • Friends to contribute toward an upcoming vacation
  • Caregivers or guardians who need to manage a person’s funds

How to compare joint bank accounts

If you want to open an account with three or more people, consider the following when comparing your options:

  • Monthly fees. Look for an account with low or no monthly fees.
  • Transaction limits. With several people accessing the account, there may be a lot more transactions. Make sure you’re not charged any unnecessary transaction fees and know that most savings accounts only allow for up to six transactions per month.
  • ATM fees. Look for an account that offers free ATM withdrawals, so you’re not hit with a fee each time one of the account holders withdraws some cash.
  • Easy online access. Make sure the account is easily accessible for everyone on the account. For example, check if there’s an easy-to-use mobile banking app and an online banking platform.
  • Number of linked debit cards. If more than two people request a linked debit card, make sure you’re not charged extra fees for the additional cards.
  • APY on savings. If you’re aiming for a joint savings account, compare the account’s APY. Average rates are 0.46%(1), but some accounts have APYs above 5.00%.
  • Account closure. Generally, one person can close a joint bank account without the other’s permission. But some banks have stricter rules that require all joint owners to provide consent before closing.

Pros and cons of having a joint account with multiple people


  • Streamlines money management and expense sharing.
  • Simplifies budgeting when you can see where money is going.
  • Gives access to other joint holders when one is unavailable.
  • Makes transferring money to a spouse, child, or friend easier.


  • Other account holders can withdraw money without your consent.
  • Complicates keeping track of the account balance when multiple people are making transactions.

How to open a 3-way bank account

Opening a joint bank account is similar to opening an individual account. If you’re applying online, there’s usually a “joint account” option you’ll need to select. In some cases, the bank will require all joint owners to visit the physical branch to complete the application process.

Each person needs to provide identification, such as a driver’s license or government-issued ID, Social Security numbers, birthdates, address and contact information. If the account requires an opening deposit, be sure to complete that requirement within the allotted time.

And, if you want to add a child as a joint owner, the primary account holder will be responsible for the account.

Bottom line

While two is the most common number when it comes to joint accounts, most banks don’t have a rule preventing you from adding a third account holder. Before you decide, compare top savings accounts and checking accounts to find one with the features you need.

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