Joint accounts....How to name

[DesignDawg]

Hey all,

We're getting a joint bank account, and we aren't sure how we are supposed to list the names (for checks and stuff). SHould the account be in the name of Mr. and Mrs. Richard L. Turner, Jr., or in the name of Richard L. Turner, Jr. AND Heather R. Turner, or in the name of Richard L. Turner, Jr. OR Heather R. Turner, or what? It's too late to call my parents and ask (Eastern Time zone where they live), so I thought I'd ask here.

Ricky
DesignDawg

 

[Total Refected Power]

Richard L. Turner, Jr.
Heather R. Turner

Have both names so either one can sign or show ID with full name.

 

[Yo Ma Ma]

This is one option - (this is basicly like our account)
Jane R. Doe
John S. Doe
123 Main Street
Anywhere, ST 12345

Or

Jane R. or John S. Doe
123 Main St
Anywhere, etc.

I think you don't want to use "and" or you both have to sign the check, as opposed to just either one of you.

 

[DesignDawg]

OK.... So there's no AND or OR to it at all, huh? Just he two names. Cool. That makes sense.

Thanks!

Ricky
DesignDawg
Heather
Jabanese

 

[RossMAN]

We're getting a joint bank account, and we aren't sure how we are supposed to list the names (for checks and stuff).

Specifically what kind of joint account are you getting? You mentioned checks, is it a checking, savings or another type of account?

I would suggest listing your account names as:
Richard L. Turner, Jr.
Heather R. Turner

Even though I work in banking though not specifically in creation of checking accounts I believe with most checking accounts the following rules apply:
1) If it's a join account there has to be a primary account holder and secondary account holder. The primary account holders name will be listed first with the secondary account holders name underneath.
2) Either account holder is authorized to withdraw funds by writing a check and only one signature is required. Also either account holder is authorized to close the account without the other account holders knowledge/written authorization. However in order to re-open an account all account holders must request this in writing.
3) Deposits can be made by either you or Heather.