3rd December 2019


Do joint bank accounts get frozen when someone dies?

The bank will not freeze the funds in a joint account because they belong to both account holders equally. Because the funds in a joint account pass to the surviving account holder, they do not form part of the estate of the deceased person.

Can you withdraw money from a joint bank account?

A joint account allows equal control of a bank account by two or more people such as business partners. Withdrawals can be handled the same way as with a non-joint account. Any of the account owners can withdraw, transfer or deposit funds. Fill out a withdrawal slip, which you can find at the bank.

Can you have a joint bank account with anyone?

Just living with someone, or being married to them, will not affect your credit rating but as soon as you open a joint bank account together you will be 'co-scored'. You lose some privacy. If you use the account for personal expenses, the other account holders can see the transactions.
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