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Joint current accounts

What is a joint bank account?

A joint account is a bank account that can be opened in more than one person's name.

Most joint bank accounts are held by couples who live together, but you can open one with family, friends or a housemate. Typically, they're opened by two people but you can have more people on a joint account if you like.

How do joint bank accounts work?

All account holders can pay into or withdraw money from the same account. You can set up direct debits to pay rent, mortgage, council tax and utility bills. Each account holder can also all have a bank card.

Having a joint account can make it easier to track your spending, plus it can be a transparent way to manage your finances together.

What is the best joint bank account you can get?

Just like any current account, the best joint accounts come with different offers and benefits. You should look at these to help you find the best joint current account for you and your partner, family or friends.

The best joint account for you will depend on your situation. For example, it might be one with an arranged overdraft so there's always enough money in the account when direct debits are due. This could provide added protection in case one of you is late to pay their share of the mortgage or rent.

Compare features and find the best joint bank account that meets your specific needs.

Here's some guidance on how to get the best joint current account for you.

How to open a joint bank account

Setting up a joint bank account can be done in person by visiting your chosen bank's branch. Alternatively, you can do it online, but you'll need to supply scanned copies of legal documents which things like your address, age and identity.

All account holders will need to have a permanent UK address. Some banks may also require all applicants to be at least 18 years old.

When you apply for a joint bank account you'll need to:

• Decide who can make withdrawals. Some banks let you restrict transactions, so they have to be authorised by nominated joint account holders.

• Submit documents for each applicant's proof of name. This can be something like a passport or driving licence.

• Provide each applicant's proof of permanent address. Even if you all live at the same address, you'll need to show a utility bill, bank statement or something similar with each name on it.

When you open your joint bank account, you'll usually get access to online banking or an app. Each joint account holder will be able access the bank account in this way.

Read more on how to open a joint bank account

How to switch your joint bank account

You could move your joint account to a new bank using the Current Account Switch Service (CASS), which only takes seven working days.

Your new account has to be held in the same names as the old one if you're using the CASS. This means if you have a joint account with your partner, it could only be switched to another joint current account with them.

If you're ready to compare and find the best joint bank accounts for you, use the comparison table on this page.

What happens if you need to close a joint account?

If for some reason you no longer want to keep the joint account, you can close it. To do this, you'll need all account holders to agree - in writing - how the money in the account will be disbursed.

You can also choose to remove an account holder and turn it into a regular current account under a single name. This, too, requires all account holders to agree in writing.

What happens if you need to divide the money held in a joint bank account?

To split the money in an account, you'll need to all agree in writing on how the split should work.

If you're going through an acrimonious split from the other account holder(s), such as a divorce, some banks may freeze the account so that nobody can use it. The account is only unfrozen when an agreement is reached.

If the account holders can't come to an agreement, the matter has to be settled in court.

The courts would take into account your relationship and where you live. For example, if you're married or in a civil partnership, and you live in England or Wales, the funds would be shared equally. In contrast, if share the account with your housemates or a sibling, it's more likely that the funds would be divided up based on how much you contributed.

How to remove a joint holder

You can remove one or more people from a joint account and leave it in the name of the remaining account holders.

For example:

• If you have an account with your partner, you could transfer it into just their name or yours

• If you have an account with three housemates and one moves out, you could remove them from the account.

Banks need signed permission from everyone on the account to remove some. Some banks might ask for identification documents or for you to visit a branch to make the change.

What are the pros and cons of having a joint bank account?

As with most things, opening a joint bank account comes with pros and cons.

Last updated: 11 May, 2022