2007-05-10 08:31:45 · 8 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
More than one legal signature; more than one legal user.
2007-05-10 08:35:14 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
It means either of the two owners (or three or four or more, for that matter) may use all the money in the account. If there is $5,000, you may write a check for that amount, or the other person may. All perfectly legal.
So if you are going to have a joint account with another person, you had better trust them not to drain the account and leave you with nothing.
For couples, I recommend the his/mine/ours method. You have a separate account, he has a separate account, and then you have a joint account for shared expenses. Even if you have so little income that nearly all of it goes into the joint account, be sure to put some in your own separate account so you can make some purchases without rocking the shared boat.
2007-05-10 15:42:36 · answer #2 · answered by auntb93 7 · 0⤊ 0⤋
An account that is assigned to two seperate people. Both individuals have the right to withdrawal money and deposit money. Also, either individual is able to cancel the account, but not without consent from the other individual.
2007-05-10 15:43:24 · answer #3 · answered by Lewie 2 · 0⤊ 0⤋
a joint account is one that has 2 people assigned to it and either one can make deposits and withdrawals
2007-05-10 15:35:18 · answer #4 · answered by DoYouKnowMe 2 · 0⤊ 0⤋
When 2 or more individuals share equal responsibility and benefits, of a financial account together.
2007-05-10 15:35:48 · answer #5 · answered by lilpuppy6 3 · 0⤊ 0⤋
An account that is held by more than one person.
2007-05-10 15:35:47 · answer #6 · answered by Anonymous · 0⤊ 0⤋
when you open account with someone that you trust and plan to share your account info with
2007-05-11 01:47:42 · answer #7 · answered by Promise 2 · 0⤊ 0⤋
a husband and wife share a joined bank account. both their names are on it and have access to withdraw and deposit funds.
2007-05-10 15:35:31 · answer #8 · answered by spadezgurl22 6 · 0⤊ 0⤋