Joint account

A joint account is simply a bank account in the name of two or more people. You can either convert your existing bank account into a joint account by adding someone else to it, or open a new account in two people's names.

Benefits of a joint account

• Convenient way to share outgoings like shopping, bills, mortgage or rent payments
• You'll both get your own Visa debit card for payments and cash
• You can keep your own current account and open an additional TSB joint account, and move money between the two accounts easily

Apply for a joint account

You can open a joint account or add someone to your existing account at your nearest branch. You'll both need to go into a branch so that you can provide identification in person.

Important things to remember

Along with the benefits of opening a joint account, there are also extra responsibilities. Here are a few things to consider:

• Each person can make withdrawals, use cash machines or apply for an overdraft without needing the other's approval
• Both of you are responsible for any debts on the joint account, such as an overdraft, even if it was only one of you who withdrew the money
• Credit reference agencies usually create a financial link between joint account holders, meaning each person’s financial affairs may affect the other 

Closing a joint account

To close a joint account, anyone on the account can write to us or visit us in a branch. If you want to take someone off the account, you will all need to agree in writing or visit us in a branch together.