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How to Open a Joint Bank Account

A joint bank account is opened when a parent and child, business partners, or couples agree to share a single account. Open the doors to joint responsibility by opening a joint bank account.


  • Step 1: Fill out the paperwork needed to open the joint account. Apply in person or online if available.
  • Step 2: Check your account regularly. Look at the account activity, available funds, deposits, and expenses. Address any issues immediately if they arise.
  • FACT: As of 2010, no depositor has ever lost a penny of insured deposits since 1933, when the FDIC was created.
  • TIP: Call or look online for information the bank requires in order to open a joint account.
  • Step 3: Gather your photo identification card, your social security number, current residential address, and your contact information from both parties.
  • TIP: Include customer service as one of your deciding factors.
  • Step 4: Discuss with your bank the type of joint account that is right for you. Married couples may choose a joint tenants account with right of survivorship while business partners may choose a tenancy in common account where assets are stated in their will. Make sure you know the terms of the joint account.
  • Step 5: Select a bank that matches your needs. Ask potential banks about their fees, terms, locations, products, and services.

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