I have a friend that, due to an emergency, overdrew her checking account. That account has been closed and she is now unable to get a new account. She is looking for a new job and is running into problems with a couple of prospects that require a checking account.
Would it be possible for me to open up a joint account with her or would they deny it because of my friend's history? Also, would it be possible to set up the account such that it could only be drawn on with my signature?
It's possible that a bank might allow you to open a joint account with your friend. Some banks, however, will be just as reluctant to do so as they would be to open an individual account for someone who's had account problems in the past. The only way to know is to call around. Your best bet is probably the bank where your own account is now.
"Two-signatures-required" accounts can present problems. They require controls that most banks are unwilling or unable to use. Any bank that would consider opening a joint account for you and your friend will tell you that you're free to set up your own rules for checks, but the bank is likely not to enforce them.
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It's possible that a bank might allow you to open a joint account with your friend. Some banks, however, will be just as reluctant to do so as they would be to open an individual account for someone who's had account problems in the past. The only way to know is to call around. Your best bet is probably the bank where your own account is now.