Best Joint Bank Accounts of April 2024 (2024)

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If you want to closely manage finances with another person, a joint bank account might be worth considering.

Best Joint Bank Accounts

• Ally Spending Account: Best overall
• Ivella Joint Account: Best for earning a high interest rate
• Alliant High-Interest Checking Account: Best at a credit union
• Capital One 360 Kids Savings Account: Best joint account for parents and kids
• Qapital Goals Account: Best for couples with individual goals
• Citi Access Checking: Best for frequent debit card users

All of the financial institutions on our list are protected by FDIC or NCUA insurance. Money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.

Compare the Best Joint Bank Accounts

Best Joint Bank Accounts FAQs

Best Joint Bank Account Reviews

We've chosen joint bank accounts that might be ideal for specific a purpose — like a bank account for parents and minors — as well as generally strong joint accounts from the best banks depending on your bank preference. These accountshave stayed as our top picks for the last few months because they continue to stand out for their minimal bank fees and unique perks. Read below to learn about our top picks.

Best Overall

The Ally Spending Account is a great choice if you are searching for a straightforward fee-free joint bank account. The Ally Spending Account doesn't have monthly services or overdraft fees.

You can also save money through Round Ups if you have the Ally Savings Account — a feature that rounds up debit card purchases, payments, and checks and transfers the change to save for specific goals.

Ally is an online-only institution, so it doesn't have any physical locations. If you'd like to deposit cash, you'll have to visit a nearby ATM.

Ally also won't let you open a joint bank account with a child. Many online-only banks or online banking platforms will require you to be at least 18 years old to open a joint bank account.

Ally Spending Account Review

Best for Earning a High Interest Rate

The Ivella Joint Account is a great choice if you're looking for a joint bank account with a competitive interest rate. Through the Ivella Joint Account, you'll have access to one Savings Pod.

Money in your Joint account balance doesn't earn interest, but money Savings Pod balances do. A Savings Pod is a feature where you can save for an individual goal, and it doesn't have any balance limits. Savings Pods offer up to 5.15% APY if you add a direct deposit or subscribe to Pods+.

The Ivella Joint Account is also a good option if you'd like to avoid monthly service fees or minimum balance requirements.

The Ivella Joint Account only has one free Savings Pod. If you'd like to get more, you'll have to sign up for a Pods+ subscription. Pods+ offers up to 500 Savings Pods and has a 30-day free trial. After the free trial, you have to pay a $5 monthly fee per couple.

Best Credit Union

The Alliant High-Interest Checking Account serves as a generally strong banking option because it doesn't charge monthly services or overdraft fees. If you use an out-of-network ATM, the credit union refunds up to $20 per month.

Credit unions usually require membership to open a bank account, but Alliant lets you add an account owner if at least one person is a member.

If you'd like to open a bank account with your child, Alliant also offers strong kid's bank accounts featured in our best kid's savings accounts guide and best teen checking accounts guide.

Alliant Credit Union is an online-only credit union, so it may not be easy to deposit cash. Some Alliant ATMs allow you to deposit cash, while others don't.

Alliant Credit Union Review

Best for Parents and Kids

The Capital One 360 Kids Savings Account is featured in our best kid's savings account guide because it makes it easy for both children and parents to manage the account.

Some kid's accounts have a strict age requirement, but the Capital One 360 Kids Savings Account allows you to open a bank account for a minor under age 12 if you're the parent or legal guardian.

The savings account won't charge monthly service fees, pays a competitive interest rate, and offers 24/7 live chat customer support if you have any questions.

Your banking experience may vary depending on where you live. The bank has branches in Connecticut, Delaware, Louisiana, Maryland, New Jersey, New York, Texas, Virginia, and Washington, DC. If you don't live nearby any of these areas, it might not be easy to deposit cash.

Capital One Bank Review

Best Account for Couples With Individual Goals

The Qapital Goals Account is where you will keep the money for goals and collect savings earned after setting up "Rules." Some "Rules" can round up purchases to the nearest dollar or help you complete the 52-week money challenge.

Qapital also has a special couples feature called Dream Team. Dream allows couples to share visibility of individual bank accounts while still keeping money separate.

Qapital is an online banking platform with unique savings tools that help control spending.

Qapital is a mobile banking platform. Access to certain features may entail a monthly fee that varies between $3 to $12 per month. If you don't want to deal with monthly fees, consider one of our other top picks.

Qapital Banking Review

Best for Frequent Debit Card Users

With the Citi Access Checking — the lowest-tier checking account — you may withdraw up to $1,500 from ATMs and purchase up to $5,000 with your debit card daily. Citi stands out because it has high daily ATM withdrawal limits and debit card purchase limits.

Citi also has a substantial ATM network, with over 72,000 fee-free ATMs throughout the US and ATMs overseas. As a result, you'll be more likely to find an in-network ATM and avoid out-of-network ATM fees.

Citi Review

Other Joint Bank Accounts That Didn't Make the Cut

• Atmos Financial: Atmos Financial has a joint savings account. You might like this account if you want to bank with an eco-friendly financial institution. It's high-yield savings account pays a lower interest rate than our top pick, though.
• SoFi: SoFi Checking and Savings pays up to 4.60% APY, if you set up direct deposit or deposit a minimum $5,000 per month. The Ivella Joint Account has access to Savings Pods, which offer a higher interest rate.
• Axos Bank: Axos Bank requires at least $250 to open the bank's high-yield savings account. Our top picks have lower minimum opening deposits or offer more appealing features.
• Bank of America: Bank of America has monthly service fees on checking and savings accounts unless you qualify to waive them. It also pays pretty low interest rates compared to some of our top picks.
• Bethpage Federal Credit Union: Bethpage offers solid fee-free accounts, but our top picks offer more competitive interest rates or unique money management features.
• Blue Federal Credit Union: Blue Federal Credit Union has lackluster mobile app ratings. Some of our top picks are featured in our best mobile banking apps guide.
• Chase: Chase has a substantial branch and ATM network, but you might have to deal with monthly service fees if you don't meet certain account requirements. It also has pretty low interest rates compared to our top picks.
• CIT Bank: CIT Bank doesn't have an ATM network. Instead, it reimburses up to $30 in out-of-network ATM fees each month. If you frequently withdraw money from an ATM, it might not be a good fit.
• Connexus Credit Union: Connexus has checking and savings accounts that won't charge monthly service fees, but our top picks offer more competitive interest rates or unique money management features.
• Consumers Credit Union: Consumers Credit Union has a unique high-yield rewards checking account, but the interest rate you'll earn depends on how you manage your account. Its savings account also pays a pretty low rate compared to our top picks.
• Discover Bank: Discover Bank has solid fee-free accounts, but our top picks either have more unique savings tools for joint account owners or offer higher ATM withdrawal limits.
• LendingClub: LendingClub has a unique checking account that lets you earn cash back on debit purchases, but you'll need at least $100 to open an account. Our top picks have lower minimum opening deposits.
• Pentagon Federal Credit Union: Pentagon Federal Credit Union charges monthly services fees for the checking account unless you qualify to waive them.
• Quontic Bank: Quontic offers competitive interest rates on accounts, but our top picks have more unique savings tools for joint account owners.
• Regions Bank: Regions Bank is a national bank with a variety of bank account options. Most accounts have monthly service fees unless you meet certain requirements, though.
• TD Bank: TD Bank has low or minimum opening deposits, but most accounts may require monthly service fees. Our top picks also have more appealing savings tools.
• US Bank: US Bank might be worth exploring if you want a bank with a national presence. It pays pretty low interest rates. Some bank fees might also be challenging to waive.
• Wells Fargo: Wells Fargo has one of the largest branch and ATM networks in the US. However, you'll earn a pretty low interest rate on savings accounts, and you'll need to meet certain requirements to avoid monthly service fees.
• Wings Financial: Wings Financial has solid fee-free accounts, but our favorite options have more unique savings tools for joint account owners.

Bank Trustworthiness and BBB Ratings

The Better Business Bureau assesses businesses based on responses to customer complaints, honesty in advertising, and transparency about business practices.

Below are the BBB ratings of our top picks:

Four of our top picks have ratings under an A+ from the BBB.

Ally has an A rating from the BBB due to a few unresolved complaints from customers.

Citi bank has an F rating due to many complaints that are either unresolved or unanswered.

While Ivella does not have a BBB page, its partner bank, Blue Ridge Bank, received a B+ rating from the BBB due to several complaints filed against the business.

Finally, Qapital has an F rating from the BBB due to a high volume of complaints filed against the business, a few of which are either unanswered or unresolved.

Both Citi and Capital One have also been involved in recent controversies.

Capital One used to have an account called 360 Savings. The bank launched the new 360 Performance Savings Account in 2019, which paid a much a higher interest rate. Many customers thought their old savings accounts would transition into this new one, however, they had to open a new 360 Performance Savings Account to earn the higher rate. As a result, some customers have been earning a significantly lower savings rate for years.

In the lawsuit, the plaintiffs' lawyers allege that Capital One didn't inform 360 Savings customers that these were two distinct accounts, or that 360 Performance Savings paid a higher rate. However,Capital One wants this case dismissedbecause it claims people had every opportunity to learn these facts on their own. This case is still ongoing.

In 2023, Citi wasrequired to pay $25.9 million dollars by the Consumer Financial Protection Bureau. The Bureau claimed that Citi intentionally discriminated against Armenian American credit card applicants from 2015 to 2021. Of that $25.9 million, $1.4 million of that payment will go to affected applicants.

In addition, Citi is currently beingsued for sexual harassmentby a managing director at the company, Ardith Lindsey. Citi hasn't admitted to any wrongdoing, and this case is ongoing.

Why You Should Trust Us: Experts' Advice on Choosing a Bank Account

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best bank account for your needs — whether it's joint or not.

What should you look for in a bank?

The bank should be FDIC-insured, and you should consider the banking experience you want. If you plan to walk into a bank, you need a location near you. If you're happy to bank exclusively online, you might like an online bank. And if you write checks, you need an account that allows that.

- Tania Brown, certified financial planner and vice president of coaching strategy at OfColor

What makes a checking or savings account good or not good?

For checking, look into the ATM locations, and the minimum balance required to waive monthly fees. Consider features that might make your life easier, like free checks, online bill pay, or Zelle. For savings, make sure it's not too hard to transfer money to and from other institutions.

- Roger Ma, certified financial planner with lifelaidout®and author of"Work Your Money, Not Your Life"

Make sure you know where your debit card is issued from. Some places don't accept certain providers, like MasterCard or Amex.

- Mykail James, MBA, certified financial education instructor, BoujieBudgets.com

Look for an account that doesn't have monthly fees, or makes it easy to waive any that exist. Also, check on the customer support availability and the mobile app ratings.

- Sophia Acevedo, certified educator in personal finance, banking editor, Business Insider

Methodology: How Did We Choose the Best Joint Bank Accounts?

At Business Insider, our goal is to create useful content that helps you make good decisions about your money. We recognize every person has distinct preferences, so we provide ample options to help you find the most suitable financial product or account.

We research extensively to make sure you know the standout features and limitations of a financial institution.

First and foremost, we wanted to provide you with options. We researched more than a dozen joint bank accounts at brick-and-mortar banks, online banks, credit unions, and online banking platforms to find the strongest joint bank accounts.

We reviewed and compared each joint bank account to find options that required minimal bank fees. We also looked for standout features, like competitive interest rates, early direct deposit, flexible customer service hours, and savings tools.

See our full ratings methodology for checking, business checking, savings, and money market accounts »