Joint bank accounts
A joint bank account is owned and controlled by more than one person. You might find it useful to have a joint account with your partner, family, or flatmates.
Benefits
Understanding joint accounts
Everyone owns the money
Any money put into the joint bank account is owned and managed by all account holders, regardless of who deposited the money.
When you open the joint bank account, you can specify that certain actions (e.g. payments from the account or closing the account) require more than one account holder to authorise it. Otherwise, any account holder could take money out of the account at any time, without needing to get permission from the other account holders.
Everyone is liable for debt and repayments
All joint account holders are responsible for any debt and repayments owing on the joint bank account. This means that money in the individual bank account of a joint account holder can be used to pay debt and repayments owing on the joint bank account.
Joint account holders are liable:
- No matter who created the debt
- No matter what your relationship is with the other account holders
- If the relationship breaks down.
If a joint account holder dies, the remaining account holders are generally liable for any debt and repayments owing on the joint bank account.
If a joint account isn’t right for you
To give someone access to your account without them being an account holder, you can make them an authorised signatory (also known as a nominated signatory).
Being a signatory means they can view the account at any time. You specify their level of access to the account, and how they can use the account, when you add them as a signatory. They are not an account holder of the account.
A signatory must be 18 years or older.
To find out more, call us on 0800 269 296 (Monday to Friday 8am – 8pm, Saturday and Sunday 8am – 6pm).
Debit card access
You can request a new ANZ Visa Debit card— to access your joint bank account, or you can link the joint account to your existing debit card.
Opening a joint bank account
Applicants need to be 18 years or older to apply for a joint bank account.
Apart from Jumpstart accounts, any ANZ bank account can be joint.
An existing account can be made into a joint bank account, as long as it doesn’t have an arranged overdraft in place.
Apply for a joint bank account
Closing a joint account
Joint accounts can’t usually be changed to individual accounts. They can only be closed.
In most cases, all joint account holders must agree to close the account. We need to be informed by all joint account holders by phone call, in writing or by Bank Mail.
All joint account holders will be responsible for any amounts we’re owed for that account. You are also responsible for dividing up any money left and removing it before we can close the account.
If you’re worried about your situation, or if your situation means that not all joint account holders are available to give us instructions, call us to talk through your options.
If one of the joint account holders dies, you or your solicitor can let us know by calling us or visiting a branch. Read more about what to do when someone dies.
From overseas: +64 4 470 3142
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Important information
Eligibility criteria, terms and conditions apply. Fees may apply and can change. For more information, see the ANZ General Terms and Conditions and ANZ Fees and Charges (PDF 122KB).
This material is for information purposes only. Please talk to us if you need financial advice about a product or service. See our financial advice provider statement (PDF 39.8KB) for more information.