Good bank to open a joint savings account?

RandomEvent · #1 07-30-2008, 09:06 PM

Ok, so my girlfriend and I are going to open a joint savings account soon. The money that would go in there will be from a job that we do together. Since it's money we are both working for, we feel that we should save it together for the future. I had considered opening the account at Bank of America, since I am employed there, but I couldn't find any options for one. So I'm asking for advice here.

And yes, we're both perfectly comfortable with the idea. While I don't need any advice in the vein of "don't do it man, that's stupid...", I guess you can post it, lol. But I'd appreciate valid advice from those who do currently have a joint savings account. We just need something simple for now. We actually might get a CD once the money accumulates, so advice on that would be helpful too.

fdeck · #2 07-30-2008, 09:47 PM

Just throwing an option out there for you. I am not a financial advisor. You could jointly open a stock broker account and put your money in stocks or mutual funds. Of course this requires you to bone up a bit on stock investing, and all of the usual disclaimers apply about risk and so forth.

RandomEvent · #3 07-30-2008, 11:53 PM

You know, that might be an option. The thing is though, by nature, neither of us are people who really would consider taking what we feel as "financial risks" lightly. So while I'll keep that option in my mind, I don't think it's something my girlfriend and I would consider right now. Thank you very much for the information though. I honestly didn't think of that option at all.

Bob the bassist · #4 07-30-2008, 11:57 PM

I keep my joints in an ALTOIDS tin. Never really thought about setting up an account for them. . .

Visirale · #5 07-31-2008, 06:39 AM

Not IndyMac.

ElectrAcoustic · #6 07-31-2008, 06:45 AM

Quote:

Originally Posted by Bob the bassist

I keep my joints in an ALTOIDS tin. Never really thought about setting up an account for them. . .

LOL..

wazzel · #7 07-31-2008, 07:01 AM

IMO a bank is a bank for the most point.

RandomEvent · #8 07-31-2008, 08:59 AM

Quote:

Originally Posted by wazzel

IMO a bank is a bank for the most point.

I thought so too. I was wondering if anyone had experiences with any banks though. Certain things like dual signatures before withdrawal, interest rates, ease of access, ease of opening, etc. I'd prefer to do it online if possible, and I'd prefer a bank that has banking centers in Jacksonville, FL.

I probably should have mentioned that to start with, lol.

Bassic83 · #9 07-31-2008, 09:04 AM

Quote:

Originally Posted by RandomEvent

I thought so too. I was wondering if anyone had experiences with any banks though. Certain things like dual signatures before withdrawal, interest rates, ease of access, ease of opening, etc. I'd prefer to do it online if possible, and I'd prefer a bank that has banking centers in Jacksonville, FL.

I probably should have mentioned that to start with, lol.

Check out EverBank. You can even put your savings into other currencies- euros, for example, or Swiss francs, British Pounds Sterling, etc. Something to think about if our banking system (and the Dollar) collapses. They offer a wide variety of account types, as well as the typical CDs, and other financial instruments.

FingeringAm · #10 07-31-2008, 09:07 AM

Wamu or Fannie Mae

wld3 · #11 07-31-2008, 09:13 AM

Definitely not Bank of America or most any other mega bank. Not if you care to earn any interest on your savings.

Check out the savings account list at SavingAdvice.

enyapj18 · #12 07-31-2008, 11:45 AM

You might want to take a look at your local credit unions they tend to pay higher interst rates and have lower fees than banks.

Masher88 · #13 07-31-2008, 02:09 PM

Quote:

Originally Posted by RandomEvent

Ok, so my girlfriend and I are going to open a joint savings account soon. The money that would go in there will be from translation work that we do together. Since it's money we are both working for, we feel that we should save it together for the future. I had considered opening the account at Bank of America, since I am employed there, but I couldn't find any options for one. So I'm asking for advice here.

And yes, we're both perfectly comfortable with the idea. While I don't need any advice in the vein of "don't do it man, that's stupid...", I guess you can post it, lol. But I'd appreciate valid advice from those who do currently have a joint savings account. We just need something simple for now. We actually might get a CD once the money accumulates, so advice on that would be helpful too.

Keep everything separate!!!! Watch Judge Judy for a week and you will see why!!! Unless you are married...DO NOT get a joint account

Croox · #14 07-31-2008, 02:13 PM

Quote:

Originally Posted by Masher88

Keep everything separate!!!! Watch Judge Judy for a week and you will see why!!! Unless you are married...DO NOT get a joint account

+1 I had an ex who wanted to have a joint savings account. came close do doing so, then i found out she was cheating on me. thankfully i didnt

steve21 · #15 07-31-2008, 02:38 PM

just invest in a nice bong.

Bassic83 · #16 07-31-2008, 02:54 PM

As others have said, don't open a joint account until you're married, and even then I don't like it.

I was married to my second wife, she decided she was done with me, and wrote a bunch of checks we couldn't cover. They ended up coming after me for the money, as she had decided that she was going after me for everything she could. So now I'm married a third time, and we have a joint account, but I also retained my own separate account, and I pay most of the bills through it. If I get too close to the bone, I can transfer money from the joint account, but it usually ends up being used mainly as a "ready reserve". She puts money in from her job, and pays a couple of her bills out of it, but it keeps growing. We use my account for household bills and my personal bills, which are almost gone now.

But my second ex wanted to clean me out, and she did. I couldn't even GET a checking account, being on Chex Systems as a deadbeat- even though I didn't know about it! I protested, but still got stuck with it. So that just goes to show you-

You never really know someone until you break up with them.

whoatherechunk · #17 07-31-2008, 03:04 PM

definitely not wells fargo.....they suck big time.

SuperDuck · #18 07-31-2008, 03:34 PM

Unless you're married, there's really no reason to have a joint bank account. None. Zero. I know it's not what you wanted to hear, but there you have it.

NJL · #19 07-31-2008, 03:36 PM

Quote:

Originally Posted by SuperDuck

Unless you're married, there's really no reason to have a joint bank account. None. Zero. I know it's not what you wanted to hear, but there you have it.

+1

RandomEvent · #20 07-31-2008, 11:39 PM

You know, while I do appreciate the advice, and I said that I don't mind hearing it, I don't really think it's needed in this case. In my initial post, I said that we are literally both earning the money we are putting into this savings account. It's 50/50 work, from one single job. We have our own accounts for our own jobs and finances. We feel it's better to have a joint account strictly for this endeavor, because we are both working equally for the same check. The reason we're undertaking this job at all is for the future. It's just extra money for us to save, as we don't NEED it, but want it for later.

Anyway, thanks to the people who gave me advice I could use.