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What you should know about joint checking accounts.

In most ways, a joint checking account functions in the same way as any other checking account. With a joint account, more than one person has the ability to make transactions. Before you open a joint account, please read the material below to ensure you make an informed decision.

How does a joint checking account work?

With a joint checking account, both account owners can deposit to and withdraw from the account. This means both account owners can write checks, make online payments, or use a debit card connected to the account, and they do not need to receive the consent of the other owner after the account has been set up. You can open any of our checking accounts at your local Santander branch.

Benefits of a joint checking account.


If you are sharing expenses with someone, a joint account makes it easier to pay bills, including a mortgage, and make everyday purchases.

Lower fees:

It could help you avoid Monthly Fees on an account, making it easier to meet a minimum combined balance or allowing either owner to make a required transaction.


When sharing finances, both account holders should enroll in Santander digital banking so they can easily monitor spending and deposits.

Drawbacks of a joint checking account:

Lack of privacy: Both account owners have access to full access to account balances.
Mismanagement: Funds could be mismanaged, with little or no recourse, if money you deposited is withdrawn without your knowledge.

Implications of joint checking accounts.

There are no limits to who can open a joint checking account together. Whether it’s married couples, unmarried couples, parents of young adults, adult children of elderly parents, roommates, or business partners – it makes no difference. There are, however, implications of a joint checking account including:

Right of survivorship

If one of the account owners passes away, the surviving account owner retains access to the funds in the account without having to go through probate.

Additional deposit insurance

The FDIC insures $250,000 of deposits per depositor, per account category, per bank. Depending on the accounts held by the depositors, a joint checking account could be insured for up to $500,000. Visit for more information.


While only one owner may be responsible for an infraction, all account owners are liable. For example, overdraft fees are charged against the account equally, without considering who overdrew the account.

How to open a joint checking account.

If you’re opening a new account:

  • To open a joint checking account, all applicants must appear and apply together at any local Santander Bank branch.
  • Be sure all parties have all personal information including address, social security number, and a Government-Issued ID.

If you’re adding a joint owner to an existing account:

  • Visit your local Santander Bank branch with the person you want to add to your account.
  • We’ll walk you through the process.

Not sure which checking account is right for you?

We have a choice of checking accounts to consider. Click here to compare.

All checking accounts at Santander Bank can be opened jointly. Compare checking account options to determine which account fits your and your co-owner’s needs.

Learn more about combining finances and managing money — together.

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