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Two Signatures for Joint Account Withdrawal

Is there any way that I can create a joint account that will require two signatures in order to make a withdrawal? Is there any bank in Massachusetts that will allow me to do this?


It's reasonable to assume that there is a Massachusetts bank that accepts accounts on which two signatures are required for withdrawals. Many, but not all, banks are reluctant to accept "two signature" checking accounts because of the added monitoring such accounts require, and the increased risk of paying an item without the requisite signatures.

Finding a bank that will open a savings account requiring two signatures for withdrawals is probably easier, since the risk of inappropriate payments is lower. However, multiple signature accounts are not generally advertised, so to find a bank that will accommodate you will take some research on your part.

Published on BankingQuestions.com 3/04/08