Removing myself from a joint account

SueC_2

eskbanker said:

SueC_2 said:

Thank you.  I'm just worn down by the whole situation really and want things done.  He can take his infidelity and aggression, have the house, the contents, the bank account, the money - all with my absolute blessing.  All I want is to be able to move on from it all.  

Sounds horrendous - obviously anonymised chat on here will typically be about the formalities of bank accounts and so on, but are you getting proper empathetic support from family and friends, etc?

Yes, thank you, I'm good on that side of things.  Pretty much everyone (other than the banks) on my team and doing all they can.  Just need to fast forward the next few months really!  Thanks again for your advice. x

boingy

SueC_2 said:

southone said:

Give the call centra a ring I'm sure you're not the first person in this situation

My call is very important to them..... I am held in a queue...... and will probably have died by the time I reach the top of it..............

I suppose it would be a solution but probably not the best one...

Based upon what you have said in this thread I think waiting until you have moved you and your stuff out before doing anything drastic would be the most sensible. The risk of waiting is that he could deliberately run up debts on the joint account. Only you can judge whether this is likely.

But, sooner or later, he's probably going to have to talk to you about something or other!

SueC_2

boingy said:

SueC_2 said:

southone said:

Give the call centra a ring I'm sure you're not the first person in this situation

My call is very important to them..... I am held in a queue...... and will probably have died by the time I reach the top of it..............

I suppose it would be a solution but probably not the best one...

   

Wantabeautifulhouse

Hi OP. 

I don't have personal experience in this but I read that the only way to remove yourself is to close the account. I believe that you need both signatures to remove yourself but only 1 signature to close the account. That will also stop the financial linkage.

Tell him that if you are not removed with his permission, you will simply close the account. 

elsien

I don’t think that’s correct, I think generally speaking it needs both signatures to close the account. 

Santander account closure form asks for the name of the second customer if applicable and two signatures.

EarthBoy

elsien said:

I don’t think that’s correct, I think generally speaking it needs both signatures to close the account. 

Santander account closure form asks for the name of the second customer if applicable and two signatures.

Check the terms and conditions, but many banks will close the account just on one party's instructions.

NatWest, for example, say:

"3 Joint accounts You can have a maximum of two account holders on a Select Silver, Reward Silver, Select Platinum, Reward Platinum, Black or Reward Black account. Any one of you can discuss your account with us or give us instructions (without the consent of the other account holder(s)). This includes instructions to withdraw all of the money in your account or close your account."

https://www.natwest.com/current-accounts/terms-and-conditions.html

Lloyds says:

Section H – Joint accounts ........This means that just one of you can: • close the account. We will pay the money in it to any one of you;

https://www.lloydsbank.com/assets/media/pdfs/current-accounts/personal_banking_terms_and_conditions.pdf

HSBC says:

5. Joint accounts Any joint account holder can use the account. They can get information about the account and ask us to make or stop payments. They can also apply for an arranged overdraft, and close the account and have the money in it paid to them. 

https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/personal-banking-terms-conditions.pdf

Santander says:

3.2 If you have an account that can be held in joint names: a) you are both responsible (individually and together) for any money you owe us; and b) each of you can use the account on your own, without the other’s approval (this includes instructions to close the account) except in the case of savings accounts where we have given you the option to run the account on an ‘all to sign’ basis or ‘more than one signature’ basis and you have taken this option up.

https://www.santander.co.uk/assets/s3fs-public/2018-10/general-tcs-and-important-information-ca-savings_0.pdf

SueC_2

EarthBoy said:

elsien said:

I don’t think that’s correct, I think generally speaking it needs both signatures to close the account. 

Santander account closure form asks for the name of the second customer if applicable and two signatures.

Check the terms and conditions, but many banks will close the account just on one party's instructions.

NatWest, for example, say:

"3 Joint accounts You can have a maximum of two account holders on a Select Silver, Reward Silver, Select Platinum, Reward Platinum, Black or Reward Black account. Any one of you can discuss your account with us or give us instructions (without the consent of the other account holder(s)). This includes instructions to withdraw all of the money in your account or close your account."

https://www.natwest.com/current-accounts/terms-and-conditions.html

Lloyds says:

Section H – Joint accounts ........This means that just one of you can: • close the account. We will pay the money in it to any one of you;

https://www.lloydsbank.com/assets/media/pdfs/current-accounts/personal_banking_terms_and_conditions.pdf

HSBC says:

5. Joint accounts Any joint account holder can use the account. They can get information about the account and ask us to make or stop payments. They can also apply for an arranged overdraft, and close the account and have the money in it paid to them. 

https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/personal-banking-terms-conditions.pdf

Santander says:

3.2 If you have an account that can be held in joint names: a) you are both responsible (individually and together) for any money you owe us; and b) each of you can use the account on your own, without the other’s approval (this includes instructions to close the account) except in the case of savings accounts where we have given you the option to run the account on an ‘all to sign’ basis or ‘more than one signature’ basis and you have taken this option up.

https://www.santander.co.uk/assets/s3fs-public/2018-10/general-tcs-and-important-information-ca-savings_0.pdf

I spoke to Santander, who told me that they definitely require both account holders to sign, regardless of whether I want to close the account or just remove my name from it - so it's interesting that their terms and conditions seem to say otherwise.  Thank you for highlighting that, I will definitely explore it further.

EarthBoy

I would write them a letter -the old fashioned way, with pen and paper and a stamp, saying:

"In accordance with Section 2A, condition 3.2, of your "General Terms and Conditions and Important Information Current Accounts and Savings Accounts" please close a/c no. 09-01-XX 12345678 and pay the remaining balance to me at sort code XXXXXX, a/c no. YYYYYYYY".

mab3000

I don’t know for certain with Santander, but it is possible that the fact the account is now in dispute/frozen status means that you might have withdrawn any rights to act solely to do anything on the account, including closing it. I know this would be the case with other banks. 

eskbanker

mab3000 said:

I don’t know for certain with Santander, but it is possible that the fact the account is now in dispute/frozen status means that you might have withdrawn any rights to act solely to do anything on the account, including closing it. I know this would be the case with other banks. 

I don't believe that is a fact - OP was very reluctant to take that step on the basis that it would antagonise the other person, so I'm not quite sure why the more drastic (and irreversible) step of full account closure now seems to be up for discussion, as that seems far more confrontational to me?