Help please. Ex transferring money out of joint account

Angua2

Hiya peeps of the MSA,

Got a question that I'm hoping someone might please help with. I'll try to be brief!

1. B/F is on verge of signing separation agreement.
2. Joint bank account with his ex has to be maintained to keep up with mortgage payments on marital home. He implemented all bank's recommendations to safeguard the account from her predations (she has history of removing funds), thus the account has no overdraft facility, no cards, current or otherwise.
3. He won case his against bank and 5 weeks ago, £2+ k of excess bank charges were returned to that account.
4. At some point - approx. 5 weeks ago - she created online access to the joint account and transferred the full amount of the recovered charges to her single account. This was done without his prior knowledge or consent.
5. She has been refusing to return his 50% since then - with varied and improbable excuses - although she agrees that 50% is his. It is likely that she has spent or hidden the £2+ k.

Q: What are his options?

Thanking you all in advance!

nealallen

Tell him to try the CAB. I doubt the bank will want to know as it's a joint account. Sorry I don't have much advice to give.

conradmum

I think joint accounts can have either owner's authorisation required, or both authorisations required for transactions.
Your BF should contact the bank and ask whether the account can be changed to needing both parties to authorise transactions.

Angua2

conradmum wrote: »

I think joint accounts can have either owner's authorisation required, or both authorisations required for transactions.
Your BF should contact the bank and ask whether the account can be changed to needing both parties to authorise transactions.

Thanks, Conradmum. I understand joint accounts the same way. Good idea & I've already urged him to speak to the bank about how to better safeguard both account holders' interests. This will only be an issue for another 2 - 3 months (fingers crossed!) and then the account will be closed, as the separation agreement deals with matter financial more finally.

Meanwhile, he is out £1+k and has been for 5 wks. As you can appreciate, there was a lot of work in his fight to secure repayment of excessive bank charges AND while divorce is never cheap, one with conflict is all the more expensive.... Few of us are lucky enough to be able to write-off a grand without wincing.

So, I guess it's a 2-prong question:
1) How to safeguard against joint money being appropriated by 1 of the account holders; and
2) How to recover appropriated monies.

EthelBloggs

The bank won't do anything, all he can do is open an account of his own. The bank won't even convert the joint account to a single without both signatures so he can't even take his name off it.

As to recovering the money I would write it off, I can't see how it would be able to be claimed back if it was taken from a joint account.

nealallen

Another idea is to let her keep that grand and when it's time to settle up, tell your partner to subtract the £1000 from her amount.

I would also advise him opening another account, then transfer money from the one he got the £2,000 into the new one. Will at least stop her taking money like that in future.

Glad

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deano8000

If the charges were for the joint account then your b/fd has no chance getting the funds back, they are liable for the joint account which means she can take the mony out of the account, unless the account has been frozen due to a dispute.

Angua2

deano8000 wrote: »

If the charges were for the joint account then your b/fd has no chance getting the funds back, they are liable for the joint account which means she can take the mony out of the account, unless the account has been frozen due to a dispute.

My understanding is that the refund is a marital asset and as such is subject to 50-50 split. The refund occurred 22 months after separation and the 50-50 marital asset/debt rules seem to apply.

She doesn't dispute that 50% of the £2k is his. Taking the proverbial and for whatever reason is slow to give him his half.

Yes, the matter will be passed on to solicitor and relevant bank first thing Monday. This is the slow route to recovering from her the £1+ k, in my opinion.

Angua2

nealallen wrote: »

Another idea is to let her keep that grand and when it's time to settle up, tell your partner to subtract the £1000 from her amount.

I would also advise him opening another account, then transfer money from the one he got the £2,000 into the new one. Will at least stop her taking money like that in future.

You've taken the words out of my mouth!

The mortgage on the marital home became problematic during the separation when she began transferring out whatever the joint account held in credit a day or two before the standing order for the mortgage kicked in... So, the mortgage got into arrears. Mortgage company contacted him. He contacted her. She said it was a mistake. They agreed to be more careful. She did it again the following month. Consequently, court got involved and the account in question cannot be closed.

deano8000

Angua2 wrote: »

My understanding is that the refund is a marital asset and as such is subject to 50-50 split. The refund occurred 22 months after separation and the 50-50 marital asset/debt rules seem to apply.

She doesn't dispute that 50% of the £2k is his. Taking the proverbial and for whatever reason is slow to give him his half.

Yes, the matter will be passed on to solicitor and relevant bank first thing Monday. This is the slow route to recovering from her the £1+ k, in my opinion.

Sorry i should have explained i meant reclaiming from the joint account/bank issue not through marital asset.