
You may want to keep a separate account
Just because you have a joint account with a life partner or spouse doesn't mean you should close your personal bank account. Unfortunately, things happen, and you may need to set money aside for yourself for emergencies. You may also have your own personal expenses that your partner isn't responsible for, such as student loans or gym memberships. And on a lighter note, keep surprise gifts for your partner a secret by using a personal account rather than a joint account where all account holders can view every transaction.
— Bethany Hickey, Writer, Banking and Loans
Can I direct deposit my checks to a joint checking account?
Hi AJ,
Thank you for contacting Finder.
Yes, you may deposit a personal check named to a single individual to a joint account. Kindly take note that once deposited to the joint account, both of the account holders will have equal rights to the total amount on the account.
I hope this helps.
Cheers,
Ash
I am going to add another person to my account what happens that day, what information is given to them, what documentation do they have to sign does it take a long time to do?
Hi Sudeysi,
Thanks for getting in touch with Finder!
If you plan to add another person to your account, the information shared with the person is any and all details of your account unless otherwise it can be requested with your bank to share limited information. Bank process and documentation will depend on the bank you choose.
Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.
Cheers,
Nikki
Hi, I have a joint account with my partner. If he was to get a loan through our bank account would the bank need to ask my permission first or can he get loans without my consent?
Hi Laura,
Thanks for your inquiry.
Since it is a joint account, both parties have access towards the funds unless there is a policy advised that the account could only be accessed with both parties consent. You may need to contact your bank to check if this policy is activated with your joint account.
I hope this helps.
Kind regards,
Bella
For joint accounts is there only one password.
Hi Diane,
Thank you for getting in touch with Finder.
Since the joint account has only one online account then it has only one password. If you haven’t opened a joint account and considering to open one, please have your queries listed and ask them all to your chosen bank.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Can I open a new joint account with a person living another state?
Hi Michael,
Thank you for getting in touch with Finder.
That might be possible as most banks would open joint accounts for unrelated individuals, who may be living from different states. As per this page you’re looking at, so long that both of you and your partner met the eligibility requirements, know the rules, consequences, anything on having a joint account then it is fine if you don’t live under one roof. Please note that the key to a successful joint bank accounts is trust.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni