The Best Joint Bank Accounts For Couples

If you’re looking for a joint account, you’ve come to the right place. We’ve listed the best options for adults, as well as kids’ joint accounts, from the best banks around. You can also choose from a variety of online-only banks, like Ally Bank and Alliant Credit Union. But be warned: online banks generally offer higher interest rates and user-friendly features, so keep that in mind when choosing your joint bank account.

Wells Fargo

The O.C.C. fined Wells Fargo $185 million, which is less than its total earnings over the last five years and three percent of its second-quarter profits. However, it did not do enough to halt the bank’s practices. The bank’s board of directors ordered the CEO to resign and the company fired 1,000 employees. While Wells thought it had resolved the issue of nuisance accounts, it brought mistrust into the workplace.

A Wells Fargo checking account carries a minimum balance of $25. Applicants must fill out application forms, submit personal checks and undergo verification. Alternatively, Wells Fargo offers an account without any fees. Despite the fee, it is possible to avoid it if you maintain a minimum balance of $10,000 or more. If you have a mortgage through Wells Fargo, you can even get the account without paying the monthly fee.

Wings Financial

When you open a joint bank account with Wings Financial, you have the opportunity to name both of your beneficiaries. You can specify a specific dollar amount for each beneficiary, or set up an escrow account to hold these funds until the account is paid in full. Wings allows you to designate beneficiaries, but you must have their consent to do so. This option is only available to business owners. You must provide the name of the person you wish to name as the joint account beneficiary.

With a joint bank account at Wings Financial, you can easily manage the money with a simple online banking interface. You can also set up automatic transfers from another bank, which are convenient for joint accounts. A single checking account will earn a rate of 0.05% APY, which is the average yield for accounts that have a minimum balance of $5. There are no monthly fees and you can enjoy the convenience of free check printing.

Radius Bank

The features of Radius Bank’s joint bank accounts are many and varied, and they are available to both individuals and businesses. A partnership with Radius provides a reliable source of low-cost deposits. It is possible to use a joint bank account to qualify for SBA guaranteed business loans and many other loan programs. Radius Bank also offers a savings account with the same features as a regular checking account. In addition, you can transfer funds between accounts as easily as you would a personal account.

Radius Bank offers a Rewards Checking account, which offers 1% cash back on every purchase you make, as long as you maintain a balance of at least $2,500, and reimburses you for any ATM fee anywhere in the world. You can also use your account at any NYCE ATM without incurring any fees, and the bank will refund you any ATM fees if they occur. These features make Radius Bank an attractive option for many individuals.

Santander 123 Lite Current Account

There are many benefits of a Santander 123 Lite Current Account for couples, including cashback on household bills and discounts at selected retailers. It also comes with a four-month interest-free overdraft, which is perfect for debt repayment. You can apply for a Santander 123 Lite account online or in branch. Applying online should take no more than ten minutes.

The 123 account was launched in 2012, with a decent interest rate for large balances and cashback on household bills. It was advertised by Olympic athlete Jessica Ennis-Hill and TV personalities Ant and Dec. However, experts have criticized this scheme, accusing Santander of a cynical approach. Other financial experts have also criticised it, citing low cashback rates.

One key difference between the two accounts is the interest rate. The 123 account offers 0.3% interest per month on balances up to PS20,000. This is a good interest rate, especially if you’re a couple with a lot of money. Santander 123 also offers free overdrafts and cashback on selected household bills. The 123 Lite account is available on a joint basis or a single one, and you can access the online banking and telephone banking services 24 hours a day.