Individual Joint Account Application: Fill & Download for Free

Issuance of ATMs for a joint account depends on the mode of operation of the account.· Either or Survivor / Anyone or Survivor: In case of joint accounts operated by "either or survivor" or "anyone or survivor", a card may be issued to each account holder authorized to operate the account subject to other eligibility conditions applicable to each card holder individually. For joint accounts, maximum of two cards can be issued under different names.· Former or Survivor: In case of joint accounts operated by "Former or Survivor", the card can be issued only to the "former". The request for issuing an ATM card must be signed by all the account holders in such cases.· Joint Operation: In case the mode of operation is "jointly” by all the account holders, ATM cards cannot be issued.

I’m guessing you are not the illiterate person. (Sorry, dark humor.) Seriously, if an illiterate person can produce basic identification (even if they cannot read it) and scrawl a signature (and even that is passing by the wayside), they can open an account. In fact, the banker PREFERS this to be a joint account with a literate co-owner. The banker will read the important stuff to the illiterate account applicant.Now this all assumes the applicant is not Intellectually and Developmentally Disabled. The applicant must be able to understand the contract terms to open the account. IDD individuals can still have an account using a trustee, guardian, parent, or other conservator: someone on the hook to be the fiduciary. Legal documents to support this will be needed by the banker.

For married couples, an ethical way to handle finances is to treat them as equitable, rather than equal, contributions. Each spouse contributes to the household expenses, bills, vacation fund, etc. equitably, based on their relative income. The same goes for car insurance, health insurance (if applicable), and long-term care insurance, as these benefit both members of the couple.I am not a big fan of the joint account—not even for married couples. I have never had one when married, and I believe that this staved off a lot of discord and simplified the divorce process. A joint account just for household expenses is okay. But your discretionary spending account is yours. Even though it’s “your” money (as a couple), if one partner wants to buy something stupidly ridiculous, there’s less of a sting when it comes out of their discretionary account—after the bills are paid.If you are not married, individual accounts. The principle of equity still applies if you’re leasing an apartment together. However, it is highly unwise to merge finances in any way or take out joint credit. Seriously, do NOT merge finances. Lori Jones made some very good points about property purchase, but what one must keep in mind that most unmarried couples break up. Is that it’s very difficult for an unmarried couple to come to an equitable arrangement if they own Big Things together, as there is no court of jurisdiction to decide how to divide them. I worked in family law for a while, and buying Big Things together (taking out a loan) was the biggest mistake I saw unmarried couples make.