Favored by 82% of French couples who have been in business for more than a year, the joint account is defined as a bank account managed by two or more co-holders. Each person has their own bank card and uses or manages the account independently for all types of payments. Here is our complete guide to help you find the best bank for a joint account.
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Our selection
"The Boursorama Ultim is an international card that has won over 500,000 new members since its launch. It allows travelers to enjoy free and unlimited…"
"Ideal for young people, students, those with irregular income or temporarily unemployed, this offer offers more attractive rates than traditional banks, with its lack of…"
"Do you travel a lot? The Gold CB MasterCard from Fortuneo is for you! There are no fees for payments and withdrawals by bank card,…"
"In the digital age, Hello Bank offers to manage your account remotely via the Hello Bank application. You can withdraw up to €1,000 from your…"
The Boursorama Ultim is an international card that has won over 500,000 new members since its launch. It allows travelers to enjoy free and unlimited payments and withdrawals abroad, regardless of the currency.
Read moreWith its Visa Ultim card offer, Boursorama Banque offers its customers a free card per holder and €0 account maintenance fees. To open a joint account, you need to have either €1,000 in assets with Boursorama or €3,600 in credit flows for two holders. The Visa Ultim has the same advantages as the Boursorama Visa Premier card: the same level of insurance and assistance is offered.
The main advantage of this offer is that payments and withdrawals abroad are free of charge, while the fees are 1.94% for a Visa Classic or Premier card. And for every subscription to this offer, Bousorama offers its new customers a €80 bonus as a welcome gift.
Ideal for young people, students, those with irregular income or temporarily unemployed, this offer offers more attractive rates than traditional banks, with its lack of income and spending requirements.
Read moreTo open a joint account with ING, simply complete the online form and provide the required documents. With its Essential offer, ING offers its customers a systematic MasterCard with immediate debit free of charge. This offer is ideal for people who earn less than €1,200/month, as it does not require any means test.
The only condition required by ING to open an account is to be of age. Although this offer allows you to benefit from more attractive rates than those offered by traditional banks, the Essential card is a systematic authorization card. As such, such a card may be refused by certain terminals. In addition, the amount of transactions will be limited. Note that free withdrawals are limited to 5 per month, then to 1 €/withdrawal from the sixth.
Do you travel a lot? The Gold CB MasterCard from Fortuneo is for you! There are no fees for payments and withdrawals by bank card, and transactions are unlimited.
Read moreFortuneo offers two Gold CB MasterCard cards, provided you can prove that you have a net monthly income of €2,700 when you open a joint account. With a Gold CB MasterCard you can make transactions in euros (payments, withdrawals) anywhere in the world without any fees. Moreover, you are entitled to 24/7 assistance in case of need.
This card also gives you access to privileged offers on your purchases made in more than 300 partner sites of the CB MasterCard Merchant Gallery, as well as preferential packages for your trips and stays. This offer requires a payment of €4,000 each month on the Fortuneo account, or a charge of €50 per quarter.
In the digital age, Hello Bank offers to manage your account remotely via the Hello Bank application. You can withdraw up to €1,000 from your joint account
See the priceTo open a joint account with Hello Bank, a subsidiary of BNP Paribas, you don't have to make your income available to the bank. Indeed, the bank cards of your joint account are offered to you at 0 €. You will be entitled to two Visa Premier cards for €3,600, with a minimum monthly income of €1,800 if you usually need €2,400 to open a joint account with most online banks.
The Visa Premier card allows you to opt at any time for deferred debit and for a better control of your budget. And don't forget the many good deals and discounts available with Hello Bank's Visa partners.
Any specific needs?
The best online bank for a joint account in 2021
The best online bank for an entry-level joint account
The best online bank for a premium joint account
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| TOP OF THE LINE | CHEAP | TOP OF THE LINE | ALTERNATIVE | |
In accordance with our commitment, this buying guide does not contain any sponsored products. |
8/10 |
8/10 |
7/10 |
7/10 |
| OUR SELECTION |
Boursorama - The Ultim offer
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ING - The Essential Offer
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Fortuneo - Gold CB MasterCard
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Hello bank ! - The Visa Premier card
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The Boursorama Ultim is an international card that has won over 500,000 new members since its launch. It allows travelers to enjoy free and unlimited payments and withdrawals abroad, regardless of the currency.
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Ideal for young people, students, those with irregular income or temporarily unemployed, this offer offers more attractive rates than traditional banks, with its lack of income and spending requirements.
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Do you travel a lot? The Gold CB MasterCard from Fortuneo is for you! There are no fees for payments and withdrawals by bank card, and transactions are unlimited.
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In the digital age, Hello Bank offers to manage your account remotely via the Hello Bank application. You can withdraw up to €1,000 from your joint account
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Current management fees
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0
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0
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0
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0
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Credit card requirements (regular and premier/gold)
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Free but with €1,800 monthly net income per person or €10,000 in savings together
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Free but with €1,200 per month on the account or €5,000 in savings together
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Free but with €2,700 of monthly net income together or €10,000 of savings together
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-
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Checkbook
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Gratuit
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No checkbook
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Gratuit
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Free
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Authorized overdraft
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0.07
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No authorized overdraft
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0.08
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0.07
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Withdrawal fees
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In the euro zone: free Outside the euro zone: 1.97%
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In the euro zone: free Outside the euro zone: 2%(€0.5 minimum)
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In the euro zone: free Outside the euro zone: 1.98%
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In the euro zone: free Outside the euro zone: 2%.
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When choosing, always check the type of card offered by the online bank. Some offer free standard cards, while others make Gold cards available to you.
Online banks often require a certain minimum cumulative income level to open a joint account. These minimum income requirements vary from bank to bank, and depend on the type of your bank card.
Fees differ depending on the types of cards you want to have, and also depending on each online bank. Generally for online banks without physical branches, account maintenance fees are reduced. Some online banks even offer zero account maintenance fees.
It's
always more reassuring to have a customer service available 7 days a week and 24 hours a day in case of problems. Don't hesitate to review customer reviews on the quality of service of the different online banks, to be sure to benefit from a quality support in all your steps, especially in case of incidents.
One of the advantages of opting for online banking lies in the fees for using a bank card outside the EU. Unlike the exorbitant fees charged by a traditional bank when using the card outside the European territory, for the online branches, only the exchange operations apply. Generally, these fees are between 1.98% and 2% on top of the exchange rate. If you often go on vacation or on missions outside the European Union, do not neglect this criterion.
It is possible to open a joint account online for a better management of various joint budgets: travel planning, living together, building a house, etc. The opening of such an account is faster than the opening of a classic current account.
To do this, you just need to go to the website of the chosen online bank and fill in the registration form. Generally, for the registration, the two co-holder must provide a valid identity document (CIN or passport), a proof of residence, a proof of income, as well as a signature on white paper.
The management of a joint bank account can be a source of quarrelling, and certain situations such as divorce or separation can lead the joint holders to revert to an individual account. To resolve this situation, it is possible to convert the joint account into an individual account at any time. Two cases may arise.
If both parties have agreed to end the joint account, they simply inform the bank. The latter will block all future transactions once the current operations have been completed. Each party can then open an individual account to pay the various current expenses.
If, on the other hand, there is disagreement between the joint account holders, and one of them does not want the joint account to be closed, a formal request with acknowledgement of receipt must be sent to the bank concerned so that it can make the necessary arrangements. The party who no longer wishes to remain a joint account holder is free to leave. The other party is notified by the bank after receipt of the decision to be informed about the dissolution of the joint account, and is invited to open an individual account for the transfer of funds.
It may happen that one of the joint account holders dies. In such a situation, the survivors can keep the joint account. The bank just requires the death certificate of the deceased. However, the joint account will be transformed into an individual account if there is only one person left to use it.
In some cases, the heirs of the deceased account holder do not accept this transformation. This leads the bank to block the account until the notary's decision is made. When converting a joint account into an individual account, the bank must inform the tax authorities of the remaining funds within 15 days.
Unlike traditional banks, online banks do not have a branch to welcome their customers. Customers are assisted by competent advisors who work in open spaces. This type of operation allows online banks to make significant savings in payroll and real estate.
The couple can choose between three types of titles when opening a joint account. These names will determine the way the joint account will function.
For this type of joint account, the signature of one of the two co-holder is sufficient for the operation of the joint account. It is therefore not necessary for both parties to go to the bank to carry out operations related to the account. However, having a joint account in the name of two people requires a real relationship of trust because the parties are not safe from mismanagement or bad intention of the other who could squander everything.
For
this type of joint account, a double signature is required to make all transactions related to the account. The advantage for the joint account holders is that it prevents mismanagement of household funds by one of the owners of the joint account. However, each transaction related to the operation of the account requires the presence of both parties.
In
this case, for certain operations pre-established at the time of the opening of the joint account, the signature of the co-owners is mandatory. This title serves as protection for both parties for operations they consider important. Each party can carry out alone the steps that were not communicated to the bank when the joint account was opened. Basically, it is an à la carte system offered to couples, who will be able to define which documents will require a co-signature or not when opening the account.
The joint account allows each of the co-holders to carry out transactions on the account without the approval of the others. If legally, the number of co-holders is not limited, depending on the bank, it can be limited to 4 or 5 people. This solution is very practical for the management of the household money.
The joint account is very advantageous for daily expenses, and avoids accounts of apothecaries for the sharing of fixed monthly expenses such as the EDF, rent, etc.. Only one signature is required to make these transactions. Also, the joint account makes it possible to reduce the inflation of the banking expenses like the expenses of account for example.
If each holder is free to carry out operations on the account, all are however jointly and severally responsible for the incidents related to the account (debit, false checks, etc.) in front of the bank. When the bank decides to ban a bank account, it applies to the joint account and to the individual accounts of each holder. The bank can require the regulation of the situation to any holder, even if the latter is not personally responsible for the incident.
The individual account has only one holder. All transactions related to the account (withdrawals, deposits, issuing of cheques, etc.) can only be carried out by the account holder, unless there is a power of attorney.
Unlike a joint account, any type of account can be opened as an individual account (current account, regulated savings books, bank savings book, term account, share savings plan). Only the account holder is responsible for any incidents and transactions related to the account.
The main disadvantages of an individual account are the various account fees that the account holder must bear alone (account maintenance fees, bank card agreements, etc.), and that all operations require his/her signature (means of payment, withdrawals, deposits, etc.).
Opening a joint account allows you to take advantage of certain benefits, especially those related to the various fees related to the account. Opening such an account requires a real relationship of trust without which you will see your money squandered by the other parties.
If you have a common project and you are sure of the honesty of the other parties, it is interesting to open a joint account. Otherwise, to better protect your interests, it is better to open an individual account.
Take the money out of the joint account when you close the account
Once the online bank has informed all joint account holders of the unbundling procedure, each account holder can withdraw the amount they wish. Even if the decision is based on a separation, the money in the bank account must be withdrawn. This avoids money disputes related to the dilapidation of the account by one of the parties, especially in case of divorce.
The possibilities of joint accounts
Online banks offer different types of joint accounts. The best known is the signed agreement that refers to a current account. Yet depending on your needs, you can open a joint savings book, term accounts, and even securities accounts. Some accounts like PEA, PEL or Livret A are however subject to regulated procedures.
The strategy of online banks
For
optimal profitability, online banks make every effort to attract the best customer profiles. In other words, those who bring them significant flows and who have savings. The richer the customers are, the more they can afford to subscribe to profitable savings products.
In case of overdraft
In
case of overdraft of the joint account, it is possible for you to dissociate yourself from the account by informing the bank and your co-holders of your decision by a registered letter with acknowledgement of receipt. As a result, you will no longer be held responsible for the various movements on the account from the date of your departure.
The best online bank for a joint account depends on your needs and your budget. Read our buying guide to find out which products are the best.
You do not have to be married, in a civil union or in a couple to open a joint account. If the latter is generally intended for spouses who live together, the opening of a joint account can be done within the framework of a cohabitation by several friends. The conditions of resources are however required by the majority of online banks.
The joint account must be opened with trusted persons because each holder can carry out operations on the account without being obliged to have the consent of the other, and this even outside the common interests. Also, the joint holders are all responsible for the account. In other words, they are responsible for the debts contracted on the joint account, and also risk the same sanctions such as a bank ban in the event of a payment incident.
Having a joint account does not prevent you from keeping your personal account. The joint account can be used for various daily household transactions (shopping, internet payments, rent payments, etc.), while the personal account can be used for your personal purchases and projects.
Online banks do not skimp on the means to compensate for the lack of physical contact between customers and advisors. Generally, they can be reached by phone 6 days a week with longer opening hours than traditional banks (sometimes until 10 pm). Some banks even offer a non-stop service 24 hours a day, as well as a dialogue via screen to get closer to their customers.
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