# Joint Account

*Everyday Money — Finicade finance glossary*

A joint account is owned by two or more people, each of whom can typically withdraw the entire balance without the other's consent. That's the feature and the risk. Joint accounts also create a financial association: in some credit systems one holder's default can be visible on the other's file. On death, joint accounts with survivorship pass directly to the survivor, outside the will. For couples, the common compromise is a joint account for shared bills and separate accounts for everything else.

**Also known as:** joint bank account, joint tenancy account

**Related terms:** [Checking Account](https://finicade.com/glossary/checking-account), [Credit Score](https://finicade.com/glossary/credit-score), [Beneficiary](https://finicade.com/glossary/beneficiary), [Estate Planning](https://finicade.com/glossary/estate-planning)

Source: https://finicade.com/glossary/joint-account