Joint checking accounts simplify shared finances, whether you’re splitting rent with a partner, helping an aging parent pay bills or teaching your teenager money management. The right account eliminates the hassle of splitting payments, Venmo-ing each other or tracking who paid what.

Here are Bankrate’s top-rated joint checking accounts for November 2025, with updated APYs and new offers from online banks and credit unions.

Want to compare other accounts? See Bankrate’s picks for best checking accounts.

Best joint checking accounts

Note: Bankrate’s editorial team validates this information regularly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.

Why open a joint checking account?

Joint checking accounts streamline shared financial responsibilities. Instead of splitting every bill, Venmo-ing your partner constantly, or maintaining complicated spreadsheets, joint accounts put shared money in one place where both owners have equal access.

“Joint checking accounts allow for joint fiscal management between individuals,” says Michelle Smoley, director of personal and college finance at Bright Horizons College Coach. “This can be beneficial for spouses, parents with young adult children, and adults with aging parents.”

The practical benefit: immediate access. If one account owner becomes unable to manage finances (due to illness, injury, or death), the other owner can still access funds and handle financial obligations without legal complications.

Risks of having a joint bank account

Joint accounts come with shared risk. Both owners have full legal access to all funds — which means either person can withdraw the entire balance at any time without the other’s permission.

If a relationship ends badly (divorce, family dispute, financial disagreement), one owner could empty the account before the other realizes what’s happening. If this occurs, your recourse is limited. You could sue in small claims court, but there’s no guarantee you’ll recover your money.

Only open joint accounts with people you trust completely. For relationships that aren’t committed long-term, consider alternatives like splitting bills manually, using payment apps or maintaining separate accounts with a shared expense tracking system.

What to look for in a joint checking account

No monthly fees

Many checking accounts charge $10-$15 monthly maintenance fees unless you meet specific requirements (minimum balance, direct deposit, or minimum monthly transactions). Over a year, that’s $120-$180 lost to fees.

The best joint checking accounts eliminate this entirely. Online banks typically offer fee-free accounts with no strings attached, while traditional banks often require you to jump through hoops to avoid fees.

Competitive APYs

Most checking accounts pay little to no interest. But if you’re keeping a cushion in checking for shared expenses, rent, or emergency funds, that money should be earning something.

Look for checking accounts paying at least 0.10% APY. The best high-yield checking accounts pay up to 1.75% APY — not as high as dedicated savings accounts (4.00%+ APY), but significantly better than the 0.01% most traditional banks offer.

Compare the best high-yield checking accounts.

Fee-free overdraft protection

With two people spending from one account, overdrafts become more likely. The best joint checking accounts offer fee-free overdraft protection by linking to a savings account or allowing small negative balances without penalty.

Some banks let you overdraw by up to $50 without fees. Others charge $30-$35 per overdraft — which adds up fast if you’re not tracking spending carefully between two users.

Mobile banking and budgeting tools

A strong mobile app is non-negotiable for joint accounts. Both owners need to:

• Check balances in real-time
• Set up spending alerts
• Transfer money between accounts
• Deposit checks remotely
• Lock or freeze debit cards if lost

Some accounts include budgeting tools, spending categorization, and savings goal trackers — useful features when two people are managing shared finances.

Round-up features and automatic savings

If you’re opening a joint checking account with a partner, consider accounts that include round-up savings features. Every debit card purchase rounds up to the nearest dollar, with the difference automatically transferred to savings.

When both account holders are using the same debit card regularly, these small amounts add up to hundreds of dollars in savings annually — without requiring any active effort.

Sign-up bonuses and perks

Many banks offer $200-$300 sign-up bonuses when you open a new checking account and set up direct deposit. If you’re opening a joint account for the first time, this is essentially free money for switching banks.

Some checking accounts also offer debit card rewards (like Discover’s 1% cash back) or access to high-yield savings rates when you bundle accounts.

Find the best checking account bonuses available now

Safety and insurance

Only open accounts at FDIC-insured banks or NCUA-insured credit unions. This protects your deposits up to $250,000 per depositor, per institution, per account category in the event of bank failure.

For joint accounts, FDIC insurance covers $250,000 per co-owner — meaning a joint account with two owners is insured up to $500,000.

How to open a joint checking account

Opening a joint checking account works just like opening an individual account, except both owners need to provide personal information:

• Full legal name
• Date of birth
• Social Security number
• Email address
• Phone number
• Physical address
• Government-issued ID (driver’s license, passport, or state ID)

Opening deposit: Some banks require minimum opening deposits ($25-$100 is typical), though many online banks have eliminated this requirement entirely.

Here’s a step-by-step process to opening a joint account:

1. Choose your account from our recommendations above
2. Start the application online (most banks allow full online applications)
3. Enter both account holders’ information — both people need to be present or available to provide details
4. Fund the account via bank transfer, debit card, or check deposit
5. Activate debit cards when they arrive (typically 7-10 business days)

Can you add someone to an existing checking account? Some banks allow you to convert individual accounts to joint accounts by adding a second owner. However, this varies by institution — many require you to open a new joint account and transfer funds from the individual account.

Joint checking account FAQs

• Can joint accounts earn interest?
  

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  Yes. Joint accounts — just like individual accounts — may pay interest. It’s up to individual banks and credit unions to determine whether an account earns interest.

   

• How can I get a joint checking account bonus?
  

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  Many banks and credit unions use bonus offers to attract new customers, and these promotions may vary throughout the year. As you compare options for joint accounts, do your research to compare offers for bonus cash. In most cases, you’ll need to perform some sort of qualifying activity to qualify such as setting up a direct deposit.

   

• What is overdraft protection?
  

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  Overdraft protection is an optional service that many banks and credit unions offer that authorizes transactions that would put your account in the negative. Some overdraft protection programs link a customer’s checking account with a savings account or a line of credit. If the balance of the checking account drops to zero while trying to make a payment, funds from the linked account will automatically transfer to make sure that the transaction clears. Some banks may charge for these services, though there are ways to avoid overdraft fees.

   

• How do I get out of a joint checking account?
  

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  Call the bank or credit union to learn about their policies for making changes to accounts. In some cases, you may be able to remove your own name from the account. In others, the two account holders may need to close a joint bank account entirely and set up individual accounts. Because both names are on the account, you’re both legally entitled to the funds, which can create some challenges in attempting to remove one name.

   

Research methodology

Bankrate researches and reviews over 100 banks, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.

To find the best joint checking accounts, we looked at which of our highest-rated checking accounts allow joint checking as these accounts are equally great options for sharing with someone as they are for an individual. Most of the highly-rated checking accounts were from online-only banks, so we also included Chase as an option for those with a joint owner who may not be comfortable banking online and wants access to a brick-and-mortar bank. We chose Chase as it has branches in 48 states and Washington, D.C.

To find the best joint checking accounts for kids and teens, we looked at which of our broadly-available banks and credit unions offered an account specifically for kids or teens. Then, we looked at the features each one provided, such as APY and parental controls and spending limits, to determine which accounts were best for kids and teens to use and learn money management skills.

Learn more about how we choose the best banking products and our methodology for reviewing banks.