A joint bank account is a shared account used by two or more people.
It allows multiple account holders to access, manage and use the same pool of money for shared expenses or financial goals. It works just like a regular everyday account: you can make deposits, withdrawals, and payments, but all account holders have visibility and access to the money.
Joint accounts are commonly used by couples, families, housemates, or business partners who share regular expenses and need a simple way to manage shared finances. They might be used for making rent or mortgage payments, covering bills or household spending, or contributing to savings goals together.
Each account holder can receive their own debit card, making it easy to split day-to-day spending without the hassle of transferring money back and forth.
Before opening a joint account, it’s important to understand how access works and agree on how the account will be used, as all account holders share responsibility for the funds.