Alert notice

Scam alert: NEVER share your one-time password (OTP) with anyone, even if they claim to work for Bank Australia. Read more on how to protect yourself.

2023-12-22 2:05 pm
Alert notice

Public holiday notification: Our branches and contact centre will be closed for the December 25 and 26 2024 public holidays. Give us a call today on 132 888 if you need any help. We're here 'til 8pm AEDT Tuesday.

2023-06-23 12:09 pm
Home
/
Banking
/

Joint bank accounts

Create your banking dream team by opening a shared transaction account, joint savings account or term deposit. It's a handy way to coordinate daily spending and achieve your financial goals together.

Get started
What you getWho it's forThings to considerHow to openFAQsOpen now

Why choose a joint account?

Modal test - click to open

What you get

StarStarStarStarStar
"Bank Australia's service is so efficient and easy to navigate online. We have finally found our fit!"
Matthew from VIC
See more on Productreview.com.au
Right arrow

Save together as a team

Contribute, watch and reach your savings and financial goals quicker.

No more split bills

Forget transferring between separate bank accounts to pay each other back.

Automate transfers

Set up automated transfers in or out of your joint bank account and personal spending accounts.

Collaborate together

Equal access to keep track and manage bills and shared household expenses together.

Manage your accounts digitally

Manage your accounts through the Bank Australia app and internet banking, you can nickname accounts and set up notifications for all of your banking needs.

‍

Instant, easy payments

Move money and pay people instantly with Osko and use PayID, as well as BPAY® to pay and be paid the simple way.

Digital wallet

When you open an account and order a card, you can use your digital wallet straight away for purchases on your mobile device.

Round UP

Grow your shared savings with small change. Eligible purchases on your Visa Debit card can be rounded up to the nearest $1, $5 or $10 amount.

Security

Know your money is safe with card controls, security alerts and more.  Your individual spending stays separate, with privacy and control over what's yours. Learn more about protecting your accounts.

Who it's for

  • Open joint account in personal names (no company, trading or trust accounts)
  • People living in Australia as a permanent resident or with a relevant work visa
  • Partners/couples, family members, friends and more - anyone eligible who wants a shared bank account
  • People aged 18+
  • Aged under 25 years for opening a joint mySaver account only
  • Aged under 13? Read about it in our in trust account

Is this product right for you? Find out more

Things to consider before opening a joint bank account

Sharing a joint account is a great opportunity and a big responsibility. It's important to remember that joint account owners both have access to the funds and are liable for any debts. So you should only open a joint account with someone you know and trust. If you're feeling pressured or coerced into opening a joint account, this could be a red flag for financial abuse.
‍
What you need to agree on:

  • How much is deposited
  • How often each person makes a deposit
  • What expenses get paid out of the shared account
  • What your savings goals are
  • How the account can be used. Do both people have to authorise transactions? Or just one?

How to open a joint bank account

Contact us on 132 888 or visit a branch together.

Joint accounts you can open

Everyday accounts
Savings accounts
Term deposits

Everyday access

A full-featured transaction account for your pay or your pocket money, which does a whole lot of good, too.

Bonus Saver

To boost your savings with our bonus rate, simply deposit $100+ and make no withdrawals in the month.

Earn up to
5.10
%
p.a.
On balances up to $100,000
‍‍‍Terms and conditions apply


‍

Online Saver

Lets you save what you can and withdraw when you want.
‍

Earn up to
3.95
%
p.a.
On balances over $5,000
Terms and conditions apply


‍
Learn more

mySaver

The savings account for the under 25’s, simply deposit $10+ and make no withdrawals in the month.

Earn up to
5.10
%
p.a.
On balances up to $50,000
‍Terms and conditions apply


‍

3 month

4.70
%
p.a.
Interest rates expressed as annual percentage rates

Interest paid at maturity
Terms and conditions apply

6 month

4.80
%
p.a.
Interest rates expressed as annual percentage rates

Interest paid at maturity
Terms and conditions apply

12 month

4.70
%
p.a.
Interest rates expressed as annual percentage rates

Interest paid at maturity
Terms and conditions apply

When life changes

Relationships end
Right arrow
We can help. The steps we need to take to close the account depend on the account type, your circumstances, and whether your joint account is ‘sole operation’ or ‘joint operation’. Call us, visit a branch, or send a secure mail in internet banking to change things over.
Deceased estates
Right arrow
Read up on what’s involved so you can switch with more confidence.
Financial hardships
Right arrow
If you’re a Bank Australia customer experiencing financial difficulty, we can help you figure out what to do.
Sun setting over the Bank Australia conservation reserve at Salvana

Frequently asked questions

Can I keep my existing accounts, and will the joint owner see them?

Yes, you can keep your existing accounts, and keep personal accounts private. The joint owner will only see accounts where they're listed as an owner or signatory.

Does the joint owner need to authorise transfers?

By default, the account will be 1-to-sign when opened. That means you both have full access to withdraw, transfer or make payments with money in your joint account without requiring permission from each other. You can request the account to be 2-to-sign after it's opened, meaning both joint owners need to authorise any transfers or payments. If you would like to make an account 2-to-sign, send us a secure mail, call us on 132 888 or go into a branch.

If you choose 2-to-sign, the account cannot have a card attached. Either way, you will both be able to see the account history within Internet Banking and on your statements. It's important you only open an account with someone you know well and trust. Only add money to your joint account if you're happy for either of you to spend it.

I want to close a joint bank account, but I am in dispute/no longer in contact with the joint owner, how do I proceed?

We do require all joint owners to authorise an account closure. We can place a restriction on the account so it cannot be used until we receive confirmation from all owners to close the account. We can attempt to contact the joint owner on your behalf and we will not discuss any of your personal details with them. We cannot remove joint owners – accounts must be closed and new accounts opened.

In a shared account, does the joint account holder see everything I do?

You will both see every purchase made on your joint account. Your personal accounts are completely your own. Neither of you can see the other person's personal accounts.

Can I have more than 2 members in a joint account?

If you want to open an account in more than 2 peoples' names, call us on 132 888 or visit a branch – we’re happy to help.

Related topics

Important information

General advice

Joint accounts are required to hold the Bank Australia loans, savings and investments jointly.

Information provided is of a general nature only. In providing you with this information you should consider the appropriateness of this advice with regards to your particular financial situation and needs. You should consult the Product Disclosure Documents below and Target Market Determination before making a decision to apply for products with Bank Australia.

Terms, conditions, fees and charges are applicable as outlined below:

Account Access facility conditions of use

Deposit fees charges & transaction limits

Summary of accounts

Target market determinations

® Registered to BPAY Pty Ltd ABN 69 079 137 518