A hypothetical question about a joint current account

Archi_Bald

DandelionPatrol wrote: »

They might insist, but I doubt they would get very far with a subsequent claim against a single joint account holder who had instructed closure and paid off any overdraft, if the claim arose from the other account holder going on the spend after such a closure.

Doubt you are right - if the T&Cs say both need to sign, that's what's agreed and the account won't be closed on the say-so of one of the parties.

However, as it doesn't apply to your joint old Lloyds account, there's no need to worry about it.

YorkshireBoy

Westie983 wrote: »

you can only close a joint account with both signatures...

Even your own employers say one account holder can close a joint account...

Halifax_Current_Account_T&Cs wrote:

Part C – General

10. Joint customers

[FONT=Agenda Light,Agenda Light][FONT=Agenda Light,Agenda Light]10.1 If two or more of you are party to this agreement, the following terms apply: (a) We can accept the instructions or signature of either or any one of you. For example, either or any one may make a withdrawal or close your account. If you have a joint account and you tell us that you only want us to accept instructions from both, all or a set number of you (and not just from one of you) both or all of you must contact us. We may then close your account and, if we choose, offer each of you the opportunity to open a new account in just your name. [/FONT]
[/FONT]


https://static.halifax.co.uk/assets/pdf/bankaccounts/pdf/reward-current-account-guide.pdf
[FONT=Agenda Light,Agenda Light]
[/FONT]

Dr._Shoe

Archi_Bald wrote: »

That is not actually true for Lloyds, which the query seems to be about.

From http://www.lloydsbank.com/assets/media/pdfs/banking_with_us/personal_banking_terms_and_conditions.pdf

I was caught out like this with my first husband. The account was originally in his name so he changed it into a joint account and I transferred all my salary details and also added my savings because I closed my own account (on his insistence0. As it was listed as Mr & Mrs. Shoe, he was able to make alterations without my say so. He changed it back to a personal account behind my back when our marriage started to break down. By the time I realised, my pay had already gone in so I had to try and survive on fresh air for the following month.

Luckily current hubby likes me to have a bit of financial independance as well as him being considerably better off.