As the name suggests, joint bank accounts are bank or building society accounts specifically designed for use by two or more people. Most financial institutions offer some options for joint bank accounts for their customers. Usually, it is the more conventional current and savings accounts which prove popular joint bank accounts options, but it is possible to get joint loans and mortgages.
Joint bank accounts enable the joint account holders to access and manage the account. Each holder has equal rights to make deposits and withdrawals, and these accounts can be extremely useful for managing household finances when two or more people share accommodation.
Joint accounts present different considerations than regular accounts; for more details see: