Would you like to open a joint account at the Banque Postale? Discover the procedure to follow as well as the prices for opening and managing the account.
With your spouse, are you planning to open a joint account with the Postal Bank to better manage the expenses of daily life? Discover the steps to follow to open a joint account and to dissociate yourself if necessary. Also find out about the consequences that this entails in the event of a banking incident. And we also tell you about the rates applied by the Postal Bank for joint accounts.
How does a joint account work?
First, you should know how a joint account works. This is a bank account in the name of several holders, with or without family ties. Generally, it is spouses, cohabitants or PACS partners who decide to open a joint account. And this, in order to share income and current expenses (rent, children’s schooling, etc.), which simplifies the management of daily life.
Then, if the joint account includes the words « Sir/Madam or Madam/Sir », the holders can operate their account under their sole signature. And in the event of the mention « Sir/Madame and Madame/Sir », all the operations carried out require the signature of the two holders.
The procedure for opening a joint account at the Postal Bank
The procedure for opening a joint account is the same as for an individual current account. However, all co-holders must be present when the account is opened. Each of the holders must bring an identity document as well as proof of residence. And they must also sign a current account agreement.
Note that depending on your personal situation, the joint account can be opened under different titles “Madam or Madam”, “Sir or Madam”, “Sir or Sir”.
Note that you can also insure your means of payment attached to the joint account via the Alliatys guarantee (or Alliatys Plus).
What you need to know before opening a joint account: the consequences in the event of a banking incident
Before proceeding with the opening of a joint account, it is necessary to take into account what this implies. Indeed, opening this type of account is far from being a trivial event because all the co-holders are jointly responsible for the account.
In practice, each of the holders can use the means of payment and spend the funds in the account. In addition, everyone is responsible to the bank for all debts generated by the joint account. In other words, if the balance proves to be in debit, the bank can request reimbursement of the overdraft from one or both of the co-holders. And this, regardless of who carried out the operation putting the account in the red.
What should be remembered is that all co-holders are responsible in the event of a payment incident (check without sufficient funds, banking ban, etc.). You cannot hold your spouse or spouse responsible in the event of payment incidents, unless you have designated one of you responsible in the contract concluded with the bank. In this case, only the designated person will be banned from banking, if applicable.
In which cases can a joint account be closed?
It is quite possible to close a joint account. This operation is called uncoupling. Generally, couples decide to separate during a divorce, rupture of PACS or end of cohabitation.
But this desire to end the joint account can also result from a new choice of life. In any case, you must carry out the separation process as soon as possible with your bank, by contacting your bank adviser.
How do you dissociate yourself from a joint account?
To close your joint account at the Postal Bank, you must follow one of two procedures, depending on the situation.
The Closing Mutual Agreement Situation
In the event of a situation of mutual agreement of closure, the two parties wish to terminate their joint current account. Thus, the account will be closed as soon as all the operations in progress have been carried out.
The situation of disagreement of one of the co-holders
Anyone wishing to withdraw from the joint account can send a registered letter with acknowledgment of receipt to the Postal Bank. The letter will then be delivered to the co-holder to inform him of the procedure. Note that this is a formality charged by the establishment.
You can then withdraw the sums belonging to you, leaving however enough money to honor your debts (purchases, withdrawals in progress).
La Banque Postale will then instruct you to open an individual current account to reorganize the management of your accounts.
To know : in either situation, whether or not you agree to disassociate yourself from the joint Banque Postale account, the presence of both parties is preferable. However, it is possible to sign the separation documents later.
The documents to provide
You must provide supporting documents to the Postal Bank to dissociate yourself from your joint account:
- ID ;
- tax notice ;
- invoices from organizations to be notified;
- proof of address.
What happens to the separated joint account
The joint account, once separated, can be transformed into an individual account in favor of the person who initiated the procedure (in the event of a disagreement).
In the event of the death of one of the co-holders, the surviving person may continue to enjoy his account, on the sole condition that none of the heirs of the deceased object. The joint current account will also be changed to an individual account.
Opening a joint account at the Postal Bank: the rates
The opening and closing of a joint account are free services at the Banque Postale. You can also change the name of an account for free.
Each month, you can receive an account statement or view your balance online. In both cases, it is an unbilled service.
With regard to account maintenance, the Postal Bank charges you this service 1 euro per month (or 25 euros per year in the event of inactivity).
Finally, you can have a bundle of services to take advantage of essential products and services for managing your account: payment card of your choice and a check book, Alliatys insurance (or Alliatys Plus), a monthly account statement , online or by post, remote banking, SMS alerts (three per month). The rates are as follows for a joint account:
- Visa Infinite account formula: 29.50 euros;
- Visa Platinum account formula: 18.70 euros;
- Visa Premier account formula: 13.50 euros (6.25 euros the first year);
- Visa Classic account formula: 6.45 euros in immediate debit and 6.80 euros in deferred debit;
- Réalys account formula: 5.14 euros.
More information about the joint account:
- How to close a joint account without the agreement of the spouse?
- What happens to a joint account in the event of death?
- Joint account separation: how to do it?
- Can we have several joint accounts?
- How to open a joint account while being banned from banking?
- How to manage a joint account?
- How to convert a joint account into an individual account?
- Can we have two joint accounts in the same bank?