How to Open a Joint Bank Account

To open a joint bank account, both or all parties must visit a branch location or apply for an online bank account. Each person must have the ability to prove his or her identity by showing two forms of identification. Usually, banks will ask to see the account holder’s license and social security card. Each member will also have to fill out part of the application to open the bank account. The bank will verify the identification documents and run each member’s social security number to check for problems with other banks. The banking institution may refuse online joint bank account ownership to consumers who have been reported for owing money to other banks.

After the bank has verified that each person is eligible for ownership of a joint account, it will ask each person to sign paperwork that explains the terms associated with joint ownership. The documents will explain the fees as well as other pertinent information about the bank account. Joint owners should read the terms carefully before signing that they understand them. Once the bank and the members agree on the terms, the new customers can enjoy the many conveniences of their newly created accounts.


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