Applying for a Basic Joint Account
- 1Pick a bank or credit union together. Agree on a place that meets both of your needs. If you are opening an account with somebody you live with, think about a place nearby. If you are opening an account with someone who lives far off, such as a teenager in college, for instance, you’ll want to open an account with ATMs they can access.
2Gather your documents. To open a joint banking account, you will need to bring an ID that includes your name, your date of birth, and your address. Documents that may work include:
- If you already bank at the same institution, you may want to open your joint account with them for ease of transfer.
- If you both want to keep your old accounts, but also invest in your community, consider opening a joint account with a local credit union.
3Have both of your IDs ready. Some form of ID number will also be required for both of you. Make sure you know your government issued ID. In the United States, you’ll need your Social Security Number if you have one. If you don’t have one, you’ll need an Individual Taxpayer Identification Number.
- A driver’s license
- A state ID
- A passport
4Fill out the forms at the bank of your choice together. Check your bank’s website to find out if you need to go in in person, call, or just fill out forms online to start your account.
- Apply for an Individual Taxpayer Identification Number with the IRS: https://www.irs.gov/forms-pubs/about-form-w7
5Make your first deposit together. Ascertain the minimum amount you will need to start an account at your bank of choice. Decide how much each of you will deposit. Call, go online, or visit your bank will take a deposit in person or via electronic transfer.
- Go to the bank together to sign the paperwork agreeing to open a joint bank account.
- If you’re just signing up online, you’ll need to have the paperwork for both of you on hand.
- If you are opening an account with a minor for whom you are the guardian, you may be asked to sign a permission form allowing them to open the account.
- For instance, if your bank requires a minimum of $300, and you’re opening the account with a partner, you will both put in $150.
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Source: wikihow. com