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Best Joint Bank Accounts for Married and Unmarried Couples

Compare the best joint checking and savings accounts for people with shared finances, married or not.

You don’t need to be married (or even dating) to open a joint bank account. Married and unmarried couples alike can open a joint bank account. A joint checking or savings account can make financial management easier as a couple. Roommates, business partners, or parents and their kids can open joint accounts together, too.

We’ve researched and analyzed over 400 joint accounts, and here are eight of the best.

8 best joint bank accounts

Best overall

SoFi Checking and Savings

9 Excellent

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SoFi Checking and Savings all-in-one online account takes the top spot for best overall joint bank account. An additional owner can easily be added with an online application that's directly sent to them. There are no monthly fees, overdraft fees or opening deposit requirements. Automatically, you earn up to 1.00% APY on savings, and up to 0.50% on checking. You can earn up to 3.80% on savings if set up direct deposit to become a Plus member, or deposit at least $5,000 per month. Alternatively, you can pay $10 per month to become a Plus member to get the highest savings rate. SoFi® also offers optional FDIC insurance up to $3 million. However, many users report issues connecting their bank to fund their SoFi account if their existing bank isn't compatible with Plaid.
APYUp to 3.80%
Fee$0 per month
Minimum deposit to open$0

Best for kids

Greenlight

9.2 Excellent

Finder Award

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Greenlight is a top kids' account offering parents three plans to choose from. Each plan offers up to five kids' debit cards and an app with granular parental controls that allow you to set store- and category-level spending limits. There are no reload fees, and you and your kid will get access to chore and allowance features, money games, and tools for spending, saving and earning. Greenlight also offers a credit card that's currently waitlisted called the Family Cash Card that accepts kids as authorized users so they can start building credit history. One of the only downsides with Greenlight is that you'll pay a monthly fee of at least $5.99 per month.
Fee$5.99 per month
ATM withdrawal$0

Best joint business account

Relay

9.6 Excellent

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Relay wins our best pick for a joint business bank account. This business checking account lets you create up to 20 customizable checking accounts for your team or specific expenses and assign up to 50 debit cards to employees with daily spending and ATM withdrawal limits. There are also no monthly fees, foreign transaction or ATM fees. Create up to two savings accounts and earn between 1.75% to 3.76% APY, depending on your balance. On the downside, Relay doesn't offer checkwriting, and you'll need a balance of at least $50,000 to earn the 3.76% APY on the savings account.
APYUp to 3.76%
Fee$0 per month
Minimum deposit to open$0

Best for couples

Zeta

8.6 Great

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Zeta stands out for its joint accounts for married and unmarried couples alike. There are no monthly or overdraft fees and no balance requirements. When you sign up, you get one joint bank account and two debit cards. The mobile app is bursting with couple-friendly features like an in-app chat function to discuss finances, auto-bill pay, envelope system budgeting, virtual cards, savings goals and more. You and your partner can set up weekly or monthly spending trackers to stay on budget. Also earn up to 2.2% APY on your checking balance with VIP status by depositing at least $1,000 per month or holding a minimum balance of at least $5,000. You can also link your credit cards to the Zeta joint account, so the app can set aside money for you to easily pay off the balance. However, app reviews frequently mention the app has some technical issues.
APY2.20%
FeeFrom $0 per month
Minimum deposit to open$0

Best for joint savings

Ivella

9.2 Excellent

Ivella features a joint savings account that's heavily designed for engaged or married couples. It offers a very high 5.15% APY with direct deposit, or by subscribing to Pods+. When you open the Ivella checking account, you get up to two pods for free. With its Pods+ membership costing $5 per month (and a free 30-day trial), you can create up to 500 savings pods to separate your custom savings goals for things like a honeymoon, college savings, vacations, emergencies — you name it. Each savings pod has its own account and routing number, so it's like having 500 savings accounts in one. You also get virtual cards that can be assigned to individual pods for easy budgeting. Set savings goals you can track in the app with your partner, and have peace of mind with up to $500,000 on FDIC insurance. Just keep in mind that if you don't set up some form of direct deposit or get Pods+, the APY drops to 1%.
APYUp to 5.15%
FeeFrom $0

Best for joint checking

Ally Bank Spending Account

8.6 Great

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Ally Bank's Spending Account is a top account for singletons and couples alike. You can add up to four joint owners who each get their own login, and there are no monthly fees or balance requirements. It's full of hard-to-beat perks, including $10 in monthly out-of-network ATM reimbursements, free checks, online bill pay, savings roundups, and early direct deposit. You can also create up to 30 spending buckets, which function like digital envelopes for budgeting. Earn up to 0.10% APY on balances under $15,000 and up to 0.25% APY on balances over $15,000 on your spending account and buckets. Even if you can't earn the highest APY, the 0.10% rate is still higher than the national average of 0.07%. However, as an online bank, you'll get no physical branches, and you can't make cash deposits.
APYUp to 0.25%
Fee$0 per month
Minimum deposit to open$0

Best joint credit card

Discover it® Secured

8.8 Great

Discover It Secured is a highly rated credit card with no annual fee. Discover credit cards allow up to five authorized users. There's no minimum credit score requirement, so it's great for young couples or families looking to build credit together. You can earn 2% cash back at gas stations and restaurants up to $1,000 each quarter and unlimited 1% everywhere else. Plus, Discover matches all the cash back you earned in the first year of card ownership automatically with no limits. After seven months, Discover reviews your account to see if you can upgrade to an unsecured card and earn your deposit back. Like other secured credit cards, there's an APR, and you'll need to make an opening deposit of at least $200.
Welcome OfferOther
RewardsUp to 2% cash back
Annual fee$0
Minimum credit score300

Best for roommates

Quontic Cash Rewards Checking

Quontic Cash Rewards Checking accepts one primary owner with up to four other joint owners, with no monthly fees. And, as the name suggests, there's cash back to be earned: 1% cash back on all signature-based purchases up to $50 per month. Quontic also offers a unique product called Pay Ring, which is a wearable ring that works like a contactless debit card that's tied to your Quontic checking account. It's free to get, doesn't need to be charged, is water- and scratch-resistant and can easily be turned on and off from the Quontic app. Each joint owner can also get a free Pay Ring. This cashback checking account has a $100 opening deposit requirement, but after that, there are no minimum balance requirements.
Fee$0 per month
Minimum deposit to open$100

Methodology

Finder’s banking experts research over 400 bank accounts to find the best joint account options. We compare checking, saving, business and kids’ bank accounts to find the best in the current market and update our best picks regularly. We also favor accounts with no monthly fees, no opening deposit requirements, and accounts with joint-specific features such as in-app chats, shared savings goals and budgeting.

How do joint bank accounts work?

Joint bank accounts work just like regular bank accounts — the main difference is that two or more people share the account. For joint checking, each owner gets their own debit card and can access the funds. Both owners are responsible for fees incurred, like overdraft charges, so you should only open a joint bank account with someone you trust.

Although they typically allow up to two account holders, some providers allow three or more people. Most joint accounts give owners equal access, but some banks allow you to add restrictions, such as requiring dual signatures for withdrawals or closures — a particularly common restriction with joint business bank accounts.

How to open a joint bank account

The application process for a joint bank account is nearly the same as opening an account on your own.

You do not need to be related or married to someone to open a joint account with them. To apply for a joint bank account, you and the other intended owner(s) need to show proof of identity and address, provide other contact information and meet deposit requirements, if applicable.

However, some banks don’t allow you to open a joint account unless you already have an existing account with that bank. Some traditional banks might require you to visit a branch to verify the person you’re adding to the account.

Are joint accounts a good idea?

Joint bank accounts are a great way for spouses and life partners to manage expenses and get on the same page financially. Each joint owner has equal access to the funds, deposits and transaction history.

With two owners, there are two eyes on the account. Both owners can track of spending and budget, deposit funds, withdraw funds or pay bills. Joint accounts can also be great for roommates, business partners, family members who share expenses, unmarried life partners, or caregivers who manage someone else’s finances.

Whoever you choose to get a joint account with, trust is key — co-owners of a joint bank account have equal access to the funds unless set up otherwise.

On that same note, even if you are married, you don’t have access to your spouse’s individual bank account unless they have given you authorization to access it. Having a joint account with your spouse means you both can access the funds in that joint account, but individual accounts stay seperate unless special permissions are given.

Be sure to read through your bank’s terms, and talk with your future joint owner so you’re both at a clear understanding.

Joint accounts for kids

Joint accounts are also a great idea for parents, as they can open a joint bank account with their kids to monitor their spending and teach them how to manage their money. Parents can also open a shared savings account to set their child up for later.

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Our expert says: How FDIC insurance works with joint accounts

"Each co-owner of a joint account is insured up to $250,000 for the combined amount of their funds in all joint accounts at the same institution, according to the FDIC. Simply put, this means you and each joint owner are individually insured up to $250,000. Insurance covers the depositor (you), not the account. If you and one co-owner pool over $500,000 in one bank, consider spreading out funds for full deposit insurance coverage."

Banking editor

Bottom line

Joint bank accounts are great for couples and can also help anyone looking to share or manage expenses with multiple people. Regardless of where you open your joint checking or savings account, be sure you and the co-owner trust each other.

Alexa Serrano Cruz's headshot
To make sure you get accurate and helpful information, this guide has been edited by Alexa Serrano Cruz as part of our fact-checking process.
Bethany Hickey's headshot
Written by

Banking editor

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

Bethany's expertise
Bethany has written 434 Finder guides across topics including:
  • Personal finance
  • Banking
  • Auto loans
  • Insurance
  • Cryptocurrency and NFTs

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32 Responses

    Default Gravatar
    khensaniOctober 13, 2018

    Which South African bank can one open a joint account?

      Default Gravatar
      joelmarceloOctober 13, 2018

      Hi Khensani,

      Thanks for leaving a question on finder.

      Unfortunately, the banks featured on our website only caters to residents from the US, Australia, UK, Canada and New Zealand. We have no comparison of banks in South Africa yet. You will have to check with your local banks in SA on which banks can help you open a joint account. Sorry about that.

      Please send me a message if you need anything else. :)

      Cheers,
      Joel

    Default Gravatar
    SirenOctober 6, 2018

    How a non operative joint account of two person can be made operative in absence of one live member away from place of bank

      Default GravatarFinder
      JoshuaOctober 8, 2018Finder

      Hi Siren,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      You would need to abide by the terms and conditions that you agreed upon with the bank. If it really needs two persons to make the joint account work, then you need to follow the requirements of account. However, in some instances, when there’s really a valid reason for one member to be absent, some terms and conditions place a clause where another person can act in behalf of the absent person.

      You may check about this clause with your bank or other options available for you. Get in touch with them and ask about your situation. They should be able to give you a personalized advice.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    FelisterSeptember 21, 2018

    I have one of my friend but not my boyfriend..I want to open an joint account together with him..so I can do that??

      Default GravatarFinder
      CharisseSeptember 21, 2018Finder

      Hi Felister,

      Thanks for reaching out to finder.

      Though joint accounts are generally used by family members, couples and business partners, you can definitely open one with a friend or with any person you choose to. What’s important is you know and trust that person as there is a certain amount of risk involved in having equal authority in terms of using the money in your account.

      Before you decide to open a joint account with any person, weigh the pros and cons of this action or seek expert advise so you can be guided accordingly.

      I hope this helps.

      Cheers,
      Charisse

    Default Gravatar
    surajSeptember 18, 2018

    I disabled person from both legs I am not able to walk and I want to change my SBI Joint saving bank account partner. Please. help me advice me

      Default GravatarFinder
      JoshuaSeptember 24, 2018Finder

      Hi Suraj,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      If you need to change your SBI joint saving bank account, you would need to directly get in touch with them. The easiest way to do this is to visit an SBI account near you. However, if you are not able to do this, you can simply go online. Visit the State Bank of India homepage.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    AnnJuly 27, 2018

    My partner disconnected our joint account without knowing ,can I we open another joint account immediately and will it still show history of the last like 4 years we had

      Default Gravatar
      nikkiangcoAugust 6, 2018

      Hi Ann,

      Thanks for your message and for contacting finder.

      Yes, you can definitely open a new joint account immediately, however, your credit history will be different and separate from the other joint account you’ve had for the last 4 years. You may ask your bank about this as well as rules on joint accounts varies from bank to bank.

      Hope this helps!

      Regards,
      Nikki

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