Closing a joint account ?

Socajam

I would open a new bank account with a different bank

Emmia

md258 said:

Your question suggests that your daughter is using this as her 'real' account. If so, there is nothing stopping the ex logging in and removing all the money. As far as the bank are concerned it is just as much his(/her?) money as your daughters. I'd sort this as soon as possible.

Once you have put the balance to zero and payments to/from chamged, follow the steps above to freeze /close/remove your daughter's name from the account

This is what would concern me - get another account at a different bank open for just your daughter, and get her income and all the bills etc., moved to that - then look at getting her name removed. As it stands, the ex could run up an overdraft on the joint account, which your daughter would be jointly responsible for paying off - and if he refuses to pay, she'll have to.

She should also check her credit file to make sure there are no other associations with her ex that need to be removed.

FTBin2020

theshed said:

My Daughter split from her partner some time ago. We recently paid to have the mortgage transferred into her sole name. Now I just find out that they had a joint bank account which my daughter is now using as her own. Ex' was asked to close but will not go bank, bank won't close without both parties ? 
I originally suggested she did a switch to take advantage of any incentive, now with the added problem of being joint account holder we just want a way out.
How can we do this ?
Thanks all.

Judging from all the comments, I think everyone agrees opening a new account is best. Just wanted to say that I recently did this through Monzo - literally took 5 minutes and did it all through the app. Account ready right away and card with me in 1-2 days. I’m unsure how it’ll work with other banks in the current situation. Hopefully she gets it all sorted  

Emmia

FTBin2020 said:

theshed said:

My Daughter split from her partner some time ago. We recently paid to have the mortgage transferred into her sole name. Now I just find out that they had a joint bank account which my daughter is now using as her own. Ex' was asked to close but will not go bank, bank won't close without both parties ? 
I originally suggested she did a switch to take advantage of any incentive, now with the added problem of being joint account holder we just want a way out.
How can we do this ?
Thanks all.

Judging from all the comments, I think everyone agrees opening a new account is best. Just wanted to say that I recently did this through Monzo - literally took 5 minutes and did it all through the app. Account ready right away and card with me in 1-2 days. I’m unsure how it’ll work with other banks in the current situation. Hopefully she gets it all sorted  

Given all the reports of account freezing, (whilst the account is easy to open) shifting to Monzo as someone's only account doesn't seem like the wisest idea.

FTBin2020

Emmia said:

FTBin2020 said:

theshed said:

My Daughter split from her partner some time ago. We recently paid to have the mortgage transferred into her sole name. Now I just find out that they had a joint bank account which my daughter is now using as her own. Ex' was asked to close but will not go bank, bank won't close without both parties ? 
I originally suggested she did a switch to take advantage of any incentive, now with the added problem of being joint account holder we just want a way out.
How can we do this ?
Thanks all.

Judging from all the comments, I think everyone agrees opening a new account is best. Just wanted to say that I recently did this through Monzo - literally took 5 minutes and did it all through the app. Account ready right away and card with me in 1-2 days. I’m unsure how it’ll work with other banks in the current situation. Hopefully she gets it all sorted  

Given all the reports of account freezing, (whilst the account is easy to open) shifting to Monzo as someone's only account doesn't seem like the wisest idea.

I personally don’t use it as my main account, but if it’s a situation where her money could be taken by her ex at any moment, I’d probably say in the interim it’s more safe in a solo monzo account than a joint bank account with an ex.

jonesMUFCforever

She could very easily open a sole account with the same bank - change the password on internet banking - he could not touch her sole account.

PRAISETHESUN

jonesMUFCforever said:

She could very easily open a sole account with the same bank - change the password on internet banking - he could not touch her sole account.

It's quite likely that the ex has their own login details for their own internet banking so they can manage the joint account independently - they would have access to their own accounts(s) and any joint accounts, but not her sole accounts this way.

I agree with everyone else in saying that getting an account in her own name and moving all her money into it should be the number one priority - easiest options would probably be with the same bank, or with Monzo/Starling (for the short term). The next priority would be to get her name remove from the account, or at the very least remove any ability for the ex to run up debt in her name - this could be done by removing any overdraft facility and/or getting the account frozen (probably easier than trying to close it). There will still be a financial link on her credit files until the account can be closed, but at least debt can't be run up in her name. Joint liability for this type of debt can be a little scary as it isn't a simple matter of a 50/50 split of the debt since either of the parties can be pursued for 100% of the debt and the last thing you want is to be chased for debt that you didn't actually use.

Chino

jonesMUFCforever said:

he could not touch her sole account.

No, but the bank could if the ex mismanages the joint account and the bank decides that it's going to help itself to the OP's daughter's sole account to make good any losses on the joint account. 

born_again

jonesMUFCforever said:

She could very easily open a sole account with the same bank - change the password on internet banking - he could not touch her sole account.

You can only see accounts in your own name.
So eg. married couple have joint acc and sole each.
Mr can see joint & his sole
Mrs can see joint & her sole.
You can not see a account in anyone else's name, even if married. In fact the bank would be in trouble if they told the other party of any accounts held.

Thrugelmir

Chino said:

jonesMUFCforever said:

he could not touch her sole account.

No, but the bank could if the ex mismanages the joint account and the bank decides that it's going to help itself to the OP's daughter's sole account to make good any losses on the joint account. 

The bank cannot offset.