The bank will need to verify your spouse’s identity in order to add him to the account using state-issued identification like a driver’s license and his Social Security number. Your bank will have you fill out any needed forms. They can also issue a debit card in your spouse’s name so he can make withdrawals.

How do I make a joint bank account?

The process of opening a joint bank account is very similar to the process of opening an individual account. You choose a bank, select the account you want to open, and provide some personal information to do so. For a joint account, both you and the other account holder will need to provide the requested information.

What to do when your spouse wants their own bank account?

You may feel hurt or betrayed that your spouse wants their own bank account. You may also feel angry or become suspicious of their motives. However, in the moment, the best thing that you can do is to try to stay calm. This will help you have a productive conversation with your partner about your finances.

How do you choose a beneficiary for a checking account?

To accomplish the conversion of a checking account to a POD account, you choose a beneficiary and notify the bank of your wishes. The bank, in turn, gives you, as the owner of the account, a beneficiary designation form called a “Totten trust” to fill out.

Why did June add her son to her bank account?

June, a 65-year-old widow, wants to add her 35-year-old son, Henry, to a $400,000 bank account in her name. June prefers to bypass her daughter, Matilda, since she sees Henry as more organized and better able to issue checks to keep her bills in order while she is sick or away in Florida for long stretches.

Who are the beneficiaries of a joint checking account?

If you don’t have the option of a POD account, consider a joint account holder on your checking account. This may be a spouse or a child. Simply go into your bank branch and ask to put on another name onto the account. Make sure that person is with you because they’ll have to sign all their paperwork.