Hey bunqers 🌈
Sharing a Bank Account with your friends or loved ones has never been easier! Unveil the potential of Joint Accounts and find out everything you need to know about them in this topic 🙌
What's a Joint Account?
The Joint Account gives you the ability to have 2+ legal owners of a payment account all within a matter of seconds! Make sure that each person has their own bunq account, and then you're all set to create the Joint Account within seconds. This feature is available for all Personal bunq Core, Pro, and Elite users 📲
All account owners will get an instant notification whenever someone makes a purchase/deposit and there’s no limit on the amount of Joint Accounts that you can open.
How do I create a Joint Account?
Just follow the steps mentioned below:
- Go to the 🏠 Home tab
- Tap on 🟣 +Add
- Tap on 🟢 Add Bank Account
- Tap on "Joint Account"
- Select Partner(s)
- Personalize your account
- Done! ✅
How many people can I invite?
When it comes to the number of members in a Joint Account, the limit is 10 people. Therefore, you can invite up to 9 people with active individual Personal accounts. All owners are equally divided legal owners of the Joint Account.
Note: You can't change or remove co-owners.
How can I accept a Joint Account invitation?
- Go to the 🏠 Home tab
- Select the pending the Joint Account
- Tap on the ✅ under the invitation
- “Accept Invite”
Once everyone accepts their invitations, your Joint Account will become active.
How can I close a Joint Account?
- Go to the 🏠 Home tab
- Tap on the Joint Account
- Select Settings
- Tap on Close account
Note: A Joint Account is legally owned by all users it has been initially shared with. This means that no new users can gain access to it at a later point in time due to legal regulations. When the Joint Account is closed - it's deactivated for all parties involved and can't be reactivated.
Good to know
- The Joint Account is included in the maximum limit of 25 Bank Accounts for bunq Pro and bunq Elite, as well as the 5 Bank Accounts allowed for bunq Core.
- You can't re-open a Joint Account once it's closed from you in the app.
- When the Joint Account is set as the billing account for both users, the invoices for both Personal accounts will be deducted from the Joint Account.
- All of the funds are shared, meaning that if you have negative balance this is shared amongst the legal owners as well.
- You can also request a switch service for a Joint Account as explained here
- When you send out payments from your Joint Account, the receiving party will see a "CJ" at the end of the sender's name. The CJ part is to point out that it's a Joint Account,
- You can't set up a Joint Account with a Business user. However, you can share access from a personal account through Shared Access.
- If one of the account owners decides to close the Joint Account, the entire account must be closed. It can't stay open because the right to close the Joint Account is shared equally by all owners.
- When you go to your Joint Account, you can see who paid what by checking the little circle with your or your partner’s profile pic. This way you’ll be able to keep track of your payments and expenses easier than ever 💪
- bunq Free users can join an unlimited number of Joint Accounts but can't create them. These Joint Accounts don't count toward the 3 Bank Account limit of the bunq Free plan.
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