Joint Account


  • A bank account that is co-owned or held by two or more people who share equally in the rights and liabilities of the account.

chequing account, savings account


Related Terms and Acronyms

  • Account Agreement Definition,
    • An agreement that you sign and which lists your rights and responsibilities and the bank's rights and responsibilities for the bank account.
  • Authorized User Definition,
    • Any person to whom you give permission to use a credit card account.
  • Balance (bal.) Abbreviation,
    • The amount of money in your account.
  • Chequing Account Definition,
    • A bank account that allows quick access to the money in the account.
  • Combination Account Definition,
    • An account that is part savings and part chequing. You may write cheques and you will be paid interest if you have enough money in the account.
  • Commingling Definition,
    • Lumping together money from different sources so the sources cannot be distinguished.
  • Debit Definition,
    • Another name for withdrawal of funds from your account.
  • Overdraft (DR) Acronym,
    • The amount that a cheque exceeds the available balance in the payor's account; also insufficient funds.
    Bank account transaction code.
  • Reconciliation Definition,
    • Checking all bank account papers to make sure that the bank's records and your records agree.
  • Savings Account Definition,
    • A financial account that pays interest with low risk.
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