Helping you save for a better tomorrow.

Joint Savings Accounts

You might be familiar with joint checking accounts, but sharing your finances doesn’t have to end there. Pair your joint checking with a joint savings account, or have an individual checking account and share a savings account. They’re your personal finances, and Santander is here to help you manage them the way you want to.

What is a Joint Savings Account?

A joint savings account functionally acts as a regular savings account, however, two owners have equal access to the account. This includes making deposits and withdrawals, as well as setting up online and mobile banking profiles and receiving account alerts. While anybody can open a joint savings account together, typically joint savings account co-owners are:

  • Couples
  • Children and Elderly Parents
  • Parents and Dependent Children

Interested in opening an account for a child under the age of 18? Consider Santander® Youth Savings, tailored for the needs of children, with a legal guardian as a co-owner. Learn more about this great first bank account for kids.

Benefits of a Joint Savings Account

A joint savings account can be a great way for couples to meet savings goals together. If you are saving up for the same goal, such as buying a house, both partners can directly deposit money into the account rather than having to transfer money between individual accounts. For children of elderly parents, co-owning a joint savings account can assist with paying medical bills, and can give the child the right of survivorship. For parents of younger children, a joint savings account could be a great way to teach them about healthy financial habits, or to easily share funds with a student who’s away at college.

Drawbacks of a Joint Savings Account

There can be downsides to having a joint savings account, so be sure to thoroughly discuss the decision with your partner before committing to it. Since both account holders have equal ownership, one person can withdraw funds at their discretion, without the input of the co-owner. Additionally, if one of the account owners gets into financial trouble, both parties are held responsible, such as for overdraft charges or debt collection.


How to Open a Joint Savings Account

If you’re opening a new account:

If you’re interested in the Santander Savings Account or Santander Money Market Account, you can easily apply online. Be sure to have any personal information including address, social security number, and a Government-Issued ID for the joint owner of your account.

Open a Santander Savings Account


For all of our savings account options, you can open an account at your local bank branch.

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

Already happy with your existing bank account, but want to share ownership? Visit your local Santander Bank branch with the person you want to add to your account, and we’ll walk you through the process.

Find a branch near you


Not Sure Which Savings Account is Right for You?

Find your perfect fit!
Compare the different types of savings accounts at Santander Bank.

May We Also Suggest?

¤¤You can withdraw or transfer funds from a savings or money market savings account a total of six (6) times per service fee period (such as by automatic or pre-authorized transfers using telephone, Online Banking, or Mobile Banking, Overdraft Protection, Payments to third parties, Checks, Drafts, and Debit Card purchases). Fees apply if you exceed these limits and, if you repeatedly exceed these limits, we will convert your account to a non-interest bearing checking account.

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