what does it mean when two people open a joint account together?

Question

When a couple opens a joint account with both names on the account, what does that signify? Both male and female are not married. Note: the female leaves work with a third party male, co-worker every single day.
Thanks.

Answer 1

That is not a wise thing to do unless they are married but even married couples sometimes have separate bank accounts like my husband and myself. I had to learn the hard way with my ex-husband to keep a separate bank acct to fall back on in case I get left with nothing like my first husband did. Luckily my husband now follows my advice and has a different account so neither of us will have to go without funds. Major purchases we consult with each other before buying.

Answer 2

I know you might be looking for some sort of relationship significance to this, but all it really means is that both members of the couple on the bank account have equal access to the money in the account. If you are the male mentioned above who no longer trusts the female, take your money out of the account and remove your name from the account *now*.

Answer 3

it means you can kiss your money good bye.

actually either party can withdrawl all money from the accounts.

soooo, protect whats yours by taking it out.

If there is a problem it becomes civil and will end up in court.

its a good thing to keep your paycheck stubs

also. If the balance falls below zero and overdraft fees pile up both parties are financially responsible for the debt.

so withdrawl your money then you can remove yourself from the account with out the others permission I believe.

I've dealt with the same situation.
Also in Texas if I ask someone to move out thats not on the lease, they can stay if they so desire (as long as they sleep there and have a toothbrush in your place, they are considered a legal resident)
I actually have to file for an eviction with the courts.

crazy huh?

legally I do believe you can take all the money in the account. even if you went to court, since two parties are in control of an account, either can make the decision on what to take. She might be cheating on you and the courts will tilt in your favor.

Answer 4

Maybe he wants to save for a trip/vacation/new furniture/bigger apartment,- the possibilities are endless, so you'd have to ask him. If you live together, which is pretty darn intimate, well, do you have trust issues? Savings accounts and checking accounts are two different things so you wouldn't really be "joint finiancially" if you are saving only for things that you wish to purchase together. It's not like you'd be affecting each other's credit line or anything.

Answer 5

it means that the money in the account is owned by both parties and when one wants to withdraw they need the consent of the other etc etc. its a big step and personally i think its a bad idea there is no need to have a joint account with your partner.
im not really sure what the "note" bit has to do with having a joint account though

Answer 6

If the two are seeing each other, it usually says, lets take the relationship to a higher level. There is some financial trust going on here. What does the last part have to do with it?

Answer 7

Trouble. Two people have access to a financial account, even though they are not married. You are putting a lot of trust in someone to whom you are not married. That person could legally waltz right off with your money, and never hear from that person again.

Answer 8

Both have same access even if not married.
Don't think 'female leaves work with third party' has any legal significance at all.

Answer 9

It's a joint account, so each person has access to the $$.

Answer 10

It means that either party can write a check on the account.