Shared ownership
Joint accounts are shared by two or more individuals who collectively own and manage the account
Joint bank accounts
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What is a joint bank account?
A joint account is a way of sharing a bank account between two or more people. This will usually be yourself and your partner or others you live with.
It can be a convenient way to manage your finances with someone else, especially if you have shared outgoings like rent, utility bills, or mortgage payments.
How do I add someone to my account?
Generally, both you and the person you wish to add must visit a branch in person in order to add someone to the account. You'll need to bring valid identification, such as a passport or driving license, and proof of address for both parties.
Some banks might also offer the option to complete this process online or over the phone, so it's best to check with your bank for available options.
How do joint bank accounts work?
1) Apply to open the account: You can open a joint bank account online or in-branch, providing personal details and identification for both account holders.
2) Agree on the terms: Joint accounts allow multiple people to manage the same account, with both parties having equal access to deposits, withdrawals, and payments.
3) Manage shared finances: Both account holders can deposit money, pay bills, and withdraw funds, making it easier to handle shared expenses like household bills.
4) Use the account together: Joint accounts give both parties full control over the account, so both can access the money and manage financial transactions as needed.
Who can I have a joint account with?
Husband, wife or partner: You’re already sharing your lives, so sharing an account could make the day-to-day finances easier
Family: Siblings looking to buy a first property together might find a joint account useful for dealing with cashflow
Housemate: Having a joint account could help with paying utility bills and other regular overheads
Friend: You might be saving together for a vacation of a lifetime and also want to build up a pool of spending money
What are the features of a joint bank account?
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Equal access
All account holders have equal access to the account management, allowing for shared financial responsibility
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Deposits and withdrawals
Each account holder can make deposits and withdrawals, enabling contributions from all parties
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Responsibility
Joint account holders share financial responsibility for overdrafts or debts incurred through the account
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Direct debits
Joint accounts can set up direct debits and standing orders for shared expenses, such as rent or utilities
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Protection
Your money is protected up to £120,000 per person per financial institution. Our guide to the FSCS explains more
How does bank switching work with a joint account?
Switching banks with a joint account follows the same process as with an individual account, but all account holders must consent to the switch. Here’s how it works
Agree with your fellow account holder that you want to switch
Choose your new provider apply for a joint current account
Your new bank will switch your direct debits and standing orders to your new account
Your old bank will take care of closing your old account
As part of the Current Account Switch Service (CASS) guarantee, the whole process should be completed in seven days. You should also be compensated financially for any lost interest if there are any mistakes made.
Why switch joint bank accounts?
Switching your joint bank account can offer several advantages, including:
Lower fees: By switching, you may find a provider that offers more competitive charges for overdrafts or monthly fees.
Improved account features: Switching can give you access to enhanced features, such as better online banking tools or mobile apps that make managing a joint account easier.
Cash incentives: Some banks offer cash bonuses for switching, allowing both account holders to benefit from a financial reward for opening a new joint account.
Better interest rates: Switching may also provide access to better interest rates on your balance, helping both account holders grow their money together.
What are the pros and cons of a joint bank account?
Not sure if a joint account is the right option for you? Here are some potential advantages and disadvantages of joint bank accounts:
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Pros
Easy-to-manage household finances
If you decide on a joint packaged account, you’ll get extra benefits and only pay one account fee
Earn more interest, as there’s often more money in a joint account than a sole account
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Cons
Your credit history will be linked to other account holders and could be negatively affected
You’ll be jointly responsible for arranged overdraft debt even if you didn’t spend it
Must be able to trust the other account holder with your money
How to choose the best joint bank account
The best joint account for you will depend on your personal circumstances and financial goals. So before you apply, decide what account features are most important to you. Here are some of the key factors to consider:
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Access and convenience
Most banks will let you access your joint current account through online banking or their mobile banking app
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Rewards on your banking
If you never go overdrawn, a joint account that pays cashback or rewards could suit you best. Some banks offer a cash incentive to switch
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To earn interest on your balance
If your account is typically in credit, look for a joint account that pays interest on your credit balance.
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To gain extra benefits
You may prefer to open a joint account that comes with extra benefits, like travel and mobile phone insurance. This is called a packaged account.
Who is the legal owner of a joint bank account?
Legal ownership of a joint bank account is shared equally among all account holders.
This allows all account holders to have equal access and control over the funds, as well as the ability to make deposits, withdrawals, and transactions.
In the event of one account holder's death, the account usually passes to the surviving account holder without the need for probate.
How to open a joint bank account
Opening a joint bank account should be straightforward. Here’s what you need to do
Choose the right account
Research joint accounts that meet your needs, considering factors like fees, interest rates, and available overdraft facilities.
Gather required documents
Both parties will need photo ID, proof of address, and possibly income details to apply for the joint account.
Apply online or in-branch
Most banks offer online applications, but you may also visit a branch if needed, especially for additional assistance.
Set account permissions
Decide how the account will be managed—whether both parties need to approve transactions or if one person can act independently.
Bill Splitter Calculator
Pop in your monthly bills and what everyone brings in, and we’ll work out a fair way to split the costs - no awkward money chats required.
If you don’t know your partner’s earnings, enter an estimate or agree a contribution amount together - you can always update it later for a more accurate split.
Our expert says…
Joint bank accounts can be a great way for couples to manage their finances together. Some people will only have a joint account for the mortgage or rent and household bills, while other couples might combine all their finances. Either way, it’s vital to trust anyone you have a joint account with, as you’ll be jointly and severally liable for any overdraft and your credit records will become linked.
Kara Gammell Personal Finance & Insurance Expert
How to compare joint bank accounts with MoneySuperMarket
We can take the hard work out of finding a joint current account to suit you.
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Browse our providers
Click through to search the market to find the best joint current account for your needs, including any cash incentives to switch
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Filter and sort
Make your choice easier by using our handy filters to narrow down your options based on the type of current account you need
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Click through to provider
Find the deal you want and click through to the provider to complete your application. Sit back while your new bank takes care of the switch
Recommended guides
Do you need to be married to open a joint bank account?
No. You can open a joint account with a partner, relative, housemate or friend, provided everyone meets the provider’s eligibility rules. Many current accounts require applicants to be at least 18 and resident in the UK, but requirements vary.
How many people can be named on a joint account?
Joint current accounts are most commonly held by two people, but some providers allow more. Check the account’s maximum number of holders before applying, especially if you want to share it with several housemates or family members.
Who owns the money in a joint bank account?
Each named holder can usually access and use the account. However, the beneficial ownership of the balance is not automatically equal in every situation; it can depend on contributions, intentions and the relevant law.
How do I close a joint bank account?
First repay any overdraft and move regular payments to another account. Then ask your provider how to close the account. Some banks require every holder to agree, while others may accept an instruction from one holder if no dispute has been registered.
Can one person close a joint account without the other agreeing?
Possibly. It depends on the provider’s terms and whether a dispute has been registered. Some banks allow one holder to close the account; others require everyone’s permission. Either way, one holder can usually ask the bank to restrict or freeze the account if there is a dispute.
What happens if one of the account holders dies?
The account will usually continue in the name of the surviving holder, or in the remaining holders’ names if there are more than two. The treatment of the deceased person’s share for estate or tax purposes can depend on the circumstances and the law where they lived, so contact the bank and the estate’s representative.
Can I also have my own personal bank account?
Yes. You can keep an own personal bank account as well as having a joint account. Many people use a joint account for household bills while keeping their salary and personal spending separate.
How much can each person withdraw from the joint account?
Withdrawal and payment limits depend on the provider and how the account is operated. Unless the mandate says otherwise, each holder can usually withdraw money without the other’s permission.
If the account goes below zero without a pre-agreed overdraft, or exceeds an arranged limit, it is an unarranged overdraft. Payments may be refused and interest or other charges could apply, so check the account terms.
How much money is protected in a joint account?
Eligible deposits are normally protected by the Financial Services Compensation Scheme up to £120,000 per person, per authorised firm. A joint account held by two eligible people can therefore have up to £240,000 of protection, although money held with other brands sharing the same banking licence counts towards the same individual limit.
How does a joint current account affect my credit score?
Opening a joint account normally creates a financial association between the account holders. Lenders may consider the other person’s credit history when assessing future applications. This could affect whether you’re accepted or the terms you’re offered.
Closing the account does not automatically remove the association. Once you no longer share any credit accounts, loans or mortgages, you can ask the credit reference agencies for a notice of disassociation. Find out more about what affects your credit score.
Will the bank credit check us before opening a joint account?
The provider may check both applicants’ credit records, particularly if the account includes or offers an overdraft. The type of search and acceptance criteria vary, so check before applying if you are concerned about an application appearing on your credit file.
Can I open a joint account online?
Often, yes. Many banks accept joint applications online or through an app, while others require a phone call or branch visit. Both applicants will need to provide their details and complete the provider’s identity checks.
Can every current account be opened as a joint account?
No. Providers decide which accounts accept joint holders, and some youth, student, specialist or app-based accounts may be excluded. Check the account’s eligibility criteria or key information before applying.
Does each person have their own debit card?
Usually, yes. Each account holder normally receives a separate debit card linked to the same account. All card transactions affect the shared balance, and everyone can usually see them in the account history.
Can I get a joint savings account?
Yes. A joint savings account lets two or more people save towards a shared goal. The access rules, interest rate, tax treatment and maximum number of holders depend on the provider and account.
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Reviewed on 24 Aug 2026 by
