Joint account - forcing closure by one signatory

jonesMUFCforever

AndyR wrote:

The only problem with that, Oracus, is that it may not be closed as dormant if it's connected to a "live" account.

Some banks do not take this into account.ie you can have an active current account and a deposit account with no entries other than interest and after 3 years the deposit will become dormant unless the customer advises the bank that it is to remain open.
Eric

Ember999

Both parties have to sign to close the account. I had this problem few years back. I wanted someone who I used to share an account with off it, but alas, without their signature, the bank won't do it. So I said, right! take me off it then, they then sent him a mandate to agree to sign me off it (like it should have anything to do with the other party should you wish to remove yourself from a joint account! :mad: ) and of course, he wouldn't sign to agree to have me taken off! So, they wouldn't let me take him off and as he wouldn'd agree to me being taken off, nothing happened! This was LLoyds TSB Scotland...sheer madness!

I got round it though but that's another story :rotfl:

jonesMUFCforever

Ember999 wrote:

Both parties have to sign to close the account. I had this problem few years back. I wanted someone who I used to share an account with off it, but alas, without their signature, the bank won't do it. So I said, right! take me off it then, they then sent him a mandate to agree to sign me off it (like it should have anything to do with the other party should you wish to remove yourself from a joint account! :mad: ) and of course, he wouldn't sign to agree to have me taken off! So, they wouldn't let me take him off and as he wouldn'd agree to me being taken off, nothing happened! This was LLoyds TSB Scotland...sheer madness!

I got round it though but that's another story :rotfl:

All you had to do was to say there is a dispute with the account and they would have frozen it ie nobody would have had access to the funds until both of you agreed to a resolution.
Eric

Ember999

ejones999 wrote:

All you had to do was to say there is a dispute with the account and they would have frozen it ie nobody would have had access to the funds until both of you agreed to a resolution.
Eric

Hi Eric,

Yeah, that would have been a good idea, sadly, I wasn't aware of this at the time.
Thanks anyway,
Ember