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Best joint bank accounts

Compare the best joint checking and savings accounts for people with shared finances.

While 80% of Americans report having a joint bank account with their significant other, you don’t need to be married (or even dating) to get use out of a joint bank account. A joint checking or savings account can make financial management easier with your spouse, roommate, business partner and even your kids. 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

4.5
★★★★★

Finder score

Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until December 31, 2024.
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APYUp to 4.20%
Fee$0 per month
Minimum deposit to open$0
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Direct Deposit can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.20% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances(including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits.Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

Our account fee policy is subject to change at any time.

SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms
See list of participating banks at SoFi.com/banking/fdic/receivingbanks


We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

Best for kids

Finder Award Greenlight

4.6
★★★★★

Finder score

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Fee$5.99 per month
ATM withdrawal$0

Best joint business account

Relay

4.8
★★★★★

Finder score

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APYUp to 3.00%
Fee$0 per month
Minimum deposit to open$0
Relay is a financial technology company, not an FDIC-insured bank. Banking services and FDIC insurance are provided through Thread Bank and Evolve Bank & Trust; Members FDIC.The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.

Best for couples

Zeta

4.3
★★★★★

Finder score

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APY2.45%
Fee$0 per month
Minimum deposit to open$0

Best for joint savings

Ivella

4.6
★★★★★

Finder score

APYUp to 5.15%
FeeFrom $0

Best for joint checking

Ally Bank Spending Account

4.3
★★★★★

Finder score

APYUp to 0.25%
Fee$0 per month
Minimum deposit to open$0

Best joint credit card

Discover it® Secured

4.4
★★★★★

Finder score

Welcome OfferOther
RewardsUp to 2% cash back
Annual fee$0
Minimum credit score300

Best for roommates

Quontic Cash Rewards Checking

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

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. Some banks review your bank account history through ChexSystems when you apply.

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.

Both owners can see transactions, pay bills, keep track of spending and their budget. Joint accounts can also be great for roommates, business partners and family members who share expenses, or caregivers who manage someone else’s finances.

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

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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Expert tip: 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.

— Bethany Hickey, Editor, Banking.

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

Editor, Banking

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 439 Finder guides across topics including:
  • Personal finance
  • Banking
  • Auto loans
  • Insurance
  • Cryptocurrency and NFTs

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32 Responses

    Default Gravatar
    AJMarch 11, 2020

    Can I direct deposit my checks to a joint checking account?

      Default Gravatar
      AshMarch 13, 2020

      Hi AJ,

      Thank you for contacting Finder.

      Yes, you may deposit a personal check named to a single individual to a joint account. Kindly take note that once deposited to the joint account, both of the account holders will have equal rights to the total amount on the account.

      I hope this helps.

      Cheers,
      Ash

    Default Gravatar
    SudeysiJuly 9, 2019

    I am going to add another person to my account what happens that day, what information is given to them, what documentation do they have to sign does it take a long time to do?

      Default Gravatar
      nikkiangcoJuly 9, 2019

      Hi Sudeysi,

      Thanks for getting in touch with Finder!

      If you plan to add another person to your account, the information shared with the person is any and all details of your account unless otherwise it can be requested with your bank to share limited information. Bank process and documentation will depend on the bank you choose.

      Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.

      Cheers,
      Nikki

    Default Gravatar
    LauraMay 23, 2019

    Hi, I have a joint account with my partner. If he was to get a loan through our bank account would the bank need to ask my permission first or can he get loans without my consent?

      AvatarFinder
      BellaMay 24, 2019Finder

      Hi Laura,

      Thanks for your inquiry.

      Since it is a joint account, both parties have access towards the funds unless there is a policy advised that the account could only be accessed with both parties consent. You may need to contact your bank to check if this policy is activated with your joint account.

      I hope this helps.

      Kind regards,
      Bella

    Default Gravatar
    DianeMay 6, 2019

    For joint accounts is there only one password.

      AvatarFinder
      JeniMay 6, 2019Finder

      Hi Diane,

      Thank you for getting in touch with Finder.

      Since the joint account has only one online account then it has only one password. If you haven’t opened a joint account and considering to open one, please have your queries listed and ask them all to your chosen bank.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    MichaelMarch 7, 2019

    Can I open a new joint account with a person living another state?

      AvatarFinder
      JeniMarch 9, 2019Finder

      Hi Michael,

      Thank you for getting in touch with Finder.

      That might be possible as most banks would open joint accounts for unrelated individuals, who may be living from different states. As per this page you’re looking at, so long that both of you and your partner met the eligibility requirements, know the rules, consequences, anything on having a joint account then it is fine if you don’t live under one roof. Please note that the key to a successful joint bank accounts is trust.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

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