The pros and cons of having a joint bank account | Millennial Money
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- Опубліковано 11 вер 2024
- Should you have a joint bank account? Do you need a joint bank account? What are the benefits of having a joint bank account?
Lauren and Damien discuss the pros and cons of having a joint bank account as well as all of the things to consider prior to opening a joint account with another person.
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If you want to check your credit score prior to opening a joint bank account, watch our video on how to check it - • What is a credit score...
If you have checked your credit score and it needs improving prior to opening a joint account, watch this video on how to improve your credit score - • How to improve your cr...
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Is it possible (more like probable) to have a joint account while still having separate accounts? So the joint account will be for bills, rent/mortgage and whatever else that’s a priority, and the separate accounts can be for “non-important” essentials such as trips, hobbies, and things like that?
U can do that with revolut
Hi, yes it is possible to hold both a joint account and a separate personal account and you may be able to do this with the same bank or hold the accounts with different banks. It is also possible with some app-only banks, such as Starling Bank, to separate your spending into pots. For example, your bills can be paid from a "Bills pot" while keeping your discretionary spending in the main account.
What if one signatory is outside the country and u want to withdraw
You will need to speak to the bank as to the best way to proceed but it is likely that they will insist on a signature if that is how the account has been set up
Lol trust someone enough to marry them but not enough to create a joint account with them. That’s fucked hahah
I thought exactly the same
It's not about actual trust. Some people can't help but spend more than they need on regular bases leaving account depleted. They genuinely think that next month they'll be able to put more money in and spend less. But when that doesn't happen or happens less than enough to cover over expenditures it creates friction in relationships.
Love has nothing to do with money and money has nothing to do with love. Sooner or later will create issues if you mix them up.
Important question, I opened a joint account with my mom through Bank of America as a teenager. How can we change it so that she no longer has access to my account in her Bank of America app? I’m in my mid 20’s now and I want my financial privacy
Assuming you are in the UK I am not aware of any bank that would allow joint account to be turned into single account, or even 2 single accounts. The simplest answer is to open up a new account in your sole name and deposit money in there.
When I turned 19 I had something similar but with a credit union. They have to sign off their name from the account. You can do this at your local branch . I didn’t have to close my account just removed my mom from accessing it.
mom forced me into one 😑 how do I get out of it, it's super annoying having her ask me why I buy certain things
Try setting up your own sole account. You can easily set up direct deposits to it if you work and you'll get your own information to use for your own decisions.
Finances start fights! Just split the household bills down the middle and pay your personal bills. Never fight about money. Access to money? Give your partner your PIN in case of emergency?
Maybe just don’t partner with people you disagree with on something as integral as finances…?
What if the female makes lees money by like 20-40 thousand then would you still spilt the bills 50/50
She is an adult woman that takes pride in paying her own way. If she couldn't, not sure if we'd get along. Id find a woman that could pay her way. Equal rights as this is 2022! Kill it ladies!
@@nananahaha280Couples that have joint account are much more successful. Sure you can be successful being separate. But not to the same degree. Separate accounts means You are pretty much blind about half your finances, and then you fight about it b/c it’s not evenly split.
Have you both got to be with the same bank provider?
Usually, you will each have to have a current account with the same bank. If you don't, when you apply the bank will usually open a current account in each of your names plus a joint account.
Sur is so beautiful❤
One, creepy. Two missing the point of the clip
@@JimBob-vg2og blahh