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How to get out of a joint bank account?
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# 1
MsDee
Old 31-03-2010, 7:24 PM
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Default How to get out of a joint bank account?

Hi there,

Does anyone know if there are two named parties on a joint bank account, what one has to do to get off the bank account?

Do both parties have to agree for one to come off it?
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# 2
tori.k
Old 31-03-2010, 7:33 PM
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Tell the bank you no longer wish a joint account they will then freeze the account untill they get hold of the other named person if they agree the account will be closed, either way the account will remain frozen untill its sorted
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# 3
MsDee
Old 31-03-2010, 7:42 PM
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Thank you - what happens if the person won't agree it to it then what happens?

I'm a little worried about d/d's bouncing if the a/c is frozen...
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# 4
Rachel85
Old 31-03-2010, 8:14 PM
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If the account is frozen then direct debits will bounce so you will need to make alternative arrangements for these. I believe that it would be unusual for a name to be "taken off" the account - I would have thought that the account would be closed and any credit divided by the account holders however they see fit.

If you are able to post brief details of why you want to "come off" a joint account people may be able to advise you better.
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# 5
DVardysShadow
Old 31-03-2010, 8:25 PM
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Quote:
Originally Posted by Rachel85 View Post
If the account is frozen then direct debits will bounce so you will need to make alternative arrangements for these. I believe that it would be unusual for a name to be "taken off" the account - I would have thought that the account would be closed and any credit divided by the account holders however they see fit.

If you are able to post brief details of why you want to "come off" a joint account people may be able to advise you better.
Or any overdraft would have to be cleared.

I would start by writing to the bank asking them to close the account and render a final statement - and advise that you will not accept responsibility for transactions with immediate effect. Keep a copy, you may have to argue your case later.
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# 6
Errata
Old 31-03-2010, 8:45 PM
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Both people have to agree to open a joint account, both have to agree to close it.
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# 7
MsDee
Old 31-03-2010, 9:04 PM
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Quote:
Originally Posted by Rachel85 View Post
If you are able to post brief details of why you want to "come off" a joint account people may be able to advise you better.
I want to leave my partner, but they don't want me to leave and will make things very difficult, including not giving their consent to close the joint account.
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# 8
DVardysShadow
Old 31-03-2010, 9:40 PM
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Quote:
Originally Posted by Errata View Post
Both people have to agree to open a joint account, both have to agree to close it.
I don't see that. It is Joint and Several responsibility and I believe that it is not equitable to force one party to continue with the responsibility for the other against their will. Obviously both must agree to open it, but I think both have to agree to continue it. Obviously, in closing it, both parties are liable for all transactions up to the point at which either party gives notice that the account is to close.
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# 9
aliasojo
Old 31-03-2010, 9:56 PM
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When husband and I separated, I went into the bank and asked for my name to be taken off the joint account and for a new sole account to be opened instead. It was done there and then with no input from husband needed but that was some time ago now so maybe things have changed since then?
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# 10
Rachel85
Old 31-03-2010, 10:42 PM
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[QUOTE=DVardysShadow;31426743]Or any overdraft would have to be cleared.QUOTE]

Yes I hadn't thought of that.

I would start by opening up a new account in just your name, arrange for your salary and/or any other money you receive to be paid into there. You will need to make alternative arrangements for any direct debits or other outgoings too. The bank will be able to advise you on how to go about 'closing' the account - this situation will have happened many times before.

Good luck.
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# 11
oystercatcher
Old 31-03-2010, 10:53 PM
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I have had account as single, 1st husband added, then removed, single for a few years, now second husband added. All same account number.....
I really can't remember if first husband had to agree to be removed though, I would imagine he wrote a letter.......as I was staying in the house it made sense to keep all the direct debits going as before.
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# 12
bestpud
Old 31-03-2010, 10:55 PM
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Quote:
Originally Posted by aliasojo View Post
When husband and I separated, I went into the bank and asked for my name to be taken off the joint account and for a new sole account to be opened instead. It was done there and then with no input from husband needed but that was some time ago now so maybe things have changed since then?
I did this just a year ago.

It's very easy to do, unless you have an overdraft....

When we split, there was a large overdraft and the bank said they would take my name off the account but it would mean them reassessing his ability to repay the overdraft alone.

I handed in my card and told them I'd just keep my name on there until he could get the overdraft down, and when it was lower, I wrote and asked them to take my name off the account.

They wrote to my ex to ask his permission but, again, that was because of the overdraft, as it was a joint debt until he agreed to take it on.

If there is no overdraft then it is a simple case of asking.

Open up a new account in your name first and transfer your DDs - Natwest let me do that over the phone as I already had the joint account with them.
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# 13
money maker
Old 31-03-2010, 11:58 PM
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It will actually depend on the bank, as I know a few of them have different rules. Some will require a signature, others will be happy to just remove your name. They get this on a daily basis though, so call in and ask them and they will be able to tell you exactly what they can do for you x
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