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Joint Accounts that Require Two Signatures?

Are there joint accounts that require the signature of both parties in order to withdraw funds?

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Yes, although they are becoming harder to find. Banks are usually reluctant to accept accounts that require multiple signatures because of the logistics of checking items on the account for double authorizations.

Inquire of the banks in your area to see if one of them will accept a "two-signatures-required" account. You should also be prepared to hear that a bank accepting such an account may charge a separate fee for the extra work involved.

Published on BankingQuestions.com 11/16/07