What's your take on Joint account, NAY or YAY

A joint account, according to Wikipedia, the free encyclopedia, is a bank account shared by two or more individuals. Any individual who is a signatory of the joint account can withdraw from the account and deposit to it. Usually, joint accouts are shared between close relatives or business partners.

Investopedia explains that joint accounts can be established on a permanent basis, such as an account between a couple where their salaries are deposited, or may be temporary, such as an account between two parties who contribute funds for a short-term purpose. In the event of a death of one of the account holders, the remaining account holder(s) will have sole access to the funds, as well as any debts associated with the account. Some have argued that operating a joint account can foster unity and transparency in marriage. Some married people share their views on this issue.

I say no to joint account

Tolani Ali

This is a very interesting question for me because it was the topic that was preached in church last Sunday. I was taught that it is a good thing according to the Bible, for couples to run joint accounts. But a looking at today’s society, it is a very wrong decision. I will not even advise it.

For instance, if a wife has her account and the husband has his, and they have a company together, then they can have a joint account in the name of the company. But in the case where it is not like that, and there is no joint company, I’m doing my business and my husband is doing his own work, I can never have a joint account with him, I’m sorry but it can’t be possible. Because when my money is in a joint account, before I give my parents and siblings money, I will take permssion from my husband, I won’t be able to treat myself to a good life, trust me, in that regard,  joint account is really not a good idea.

I don’t operate a joint account with my husband and I am not even thinking of going in that direction. It is a capital no for me.

I run a joint account with my husband

Omotoyinbo Omolara

I don’t have any problem with a joint account. I feel it is a great thing as long as there is love and trust between the husband and the wife. It is right in every way and I support it.

In a situation where there is no love or trust, I would not support a married couple to own a joint account because it could cause big problems between them. But also, before you marry your partner, I think you should know the kind of person he/she is before venturing into such a thing.

I have a joint account with my husband and I will advise newly weds to keep joint accounts. The only thing is that you know who your spouse is. I’m not regretting running a joint account, it has been lovely for me because I know my husband and I love him well.

What bank joins together can be separated

Fehintola Adebayo

Having a joint account/ venture is a good thing for those in love with each other. You just have to understand each other, know how the other person thinks and spends money. All of these you will know in the early days of the relationship.

For someone like me, I was a big time spender before I had children, now I think twice before I buy anything for myself. I buy things for my children before anyone.

Joint account is a great thing for couples. It brings you closer. I have one with my husband.

But where there is no love or trust, I would not support a joint account, in fact God forbids it. The thing is this, if a man asked you to marry him or you asked him, in some cases, there must have been love or some level of trust before you say yes. But when a man or even the woman becomes unfaithful, in that case, what bank joins together can be separated.

Limited funds cannot work with joint account

Beatrice Odufolakun

There’s absolutely nothing wrong with couples running a joint account, as long as there is love and trust in their marriage. If it’s otherwise, then it’s wrong and I won’t support it.

I have not started running a joint account with my husband yet, but I will in future.

In fact he has asked for us to open one together but I refused because I feel the time is not right yet. This is because we have limited income and a joint account at this stage is not what we need as limited funds might not work with a joint account.

There would be trouble if either of the couple is adulterous

-Punch