Please note that it is now required that the two holders each have a personal account on Boursorama in order to open a joint account.
We noticed that several of our readers are interested in banks with no income requirements. Therefore, it seems prudent to us to create a second dedicated podium.
- 1 Open a joint account, the solution adapted for couples
- 2 Why open a joint account online?
Open a joint account, the solution adapted for couples
What is a joint account?
A joint account, also known as a joint account, is a bank account opened in the name of several people (usually two), which allows them to deposit and use funds together. Each holder has access to all means of payment (credit card, check, bank transfer, etc.) and can then carry out transactions without the formal agreement of the other. When you open a joint account, each of you can apply for a bank card for expenses related to this account.
Advantages and disadvantages of a joint account
What are the benefits of a joint account?
A joint account is a great solution when it comes to managing a joint budget and expenses with another person. And contrary to what some may think, not reserved for married couples! Indeed, it does not place any restrictions on the family ties between the two holders! For example, two friends can open a joint account to manage their roommate’s expenses.
The procedure for opening a joint account is similar to that for an individual account ; subscription is even done in a few minutes on the Internet in online banks. However, pay attention to the title chosen: an account in the name of “Mr and Mrs” will require the signature of both owners for each operation… while an account in the name of “Mr or Mrs” allows everyone to benefit from the account without the formal presence of the other.
A joint account does not prevent you from keeping your personal accounts. You can very well use the common account for the operations of daily life that you share (purchases, payment of rent, etc.) and maintain your individual account with Boursorama Banque or Hello bank! for example for your personal purchases.
What are the disadvantages of a joint account?
Each owner may make payments of any kind, without the express consent of the other. It can be tempting to cover a personal expense that goes beyond the framework of common interests… In fact, the joint account works on mutual trust… do not open it with anyone!
In addition, the co-owners are jointly and severally liable for the account. That implies that:
- In case of incidence of payment, the two incumbents risk being banned from banking in the joint account and in your other personal accounts.
- Both holders are responsible for the debts. incurred on the joint account (for example, an overdraft on the account), even if this debt was incurred by a single owner.
Why open a joint account online?
Comfort and savings of up to €200 per year
Online banks have an advantage over traditional banks. First of all, it is no longer necessary to go to an agency, everything can be done online from home : opening of the joint account, transfers, management of the bank card, etc. In addition, customer service is available in wide time slots.
On the other hand, online banking is not limited to the single joint account : You can open many savings (life insurance, bank books), investment (securities account, PEA), and loan (home loan, consumer loan) products.
In addition to saving time and comfort, Online joint accounts offer significant savings ! In fact, the best online banks and the new banks propose the free bank cards, the external credits sans surcoût, even payment payant… et cerise sur le gâteau: certaines offrent des primes de parrainage, in general from €80 to the ouverture d’ One account !
In the end, signing up for a joint online account will make you save on average between €100 and €200 in savings per year!
How to open a joint account?
No need to travel – a joint account can open easily and quickly on the internet, in an online bank or in a neobank. Make sure in advance that both co-owners can be present to answer questions and that they have access to any documents that may be requested. Once you are on the subscription page, you will need to start with fill a form (last name, first name, profession, income, etc.) then you must sign an account contract. Supporting documents will then be required, such as two IDs, bank details, proof of address, and sometimes payment receipts if you have signed up for an income-related offer (note that several online banks offer card account offers with no conditions: find out about our study: free banking with no entry conditions). But before all that, you need to make sure that you are about to sign up for an offer that suits you. Do not hesitate to compare banks before making your choice! Our table below can help you.