A joint checking account is a simple banking solution for any two people who want to partially or entirely combine their finances, allowing each to manage the funds. Most of the time, couples are the ones who open a joint checking account, but parents with teenagers or business partners can also benefit from them. This piece will look at the best joint bank account for couples and unmarried people in 2023.

In 2023, the best joint bank account for couples and unmarried people will include debit card usage, check-writing capability, ATM access, online bill payment, and other benefits. These accounts are easy to use on mobile devices and have low or no fees. They also have reasonable interest rates and are mobile-friendly.

What Is a Joint Bank Account?

Checking accounts are bank accounts for frequent activities such as writing checks, using debit cards to make purchases, paying bills, and sending money to others. A joint checking bank account allows two account holders to split funds while still having access to the same account.

In the instance of two adults, such as a spouse, both would have equal power over the account’s funds. The same is true for two business partners who both have a business checking account in their names. However, in the case of a teen checking account, the young account holder generally has less influence over the account than the adult who is the principal account holder.

Best Joint Bank Account For Couples 2023

Couples can profit from pooling assets for family expenses and future planning. The best joint bank account for couples and unmarried persons in 2023 will provide additional benefits such as interest or low costs. This article examines the current options for couples.

We looked at monthly costs and balance requirements for each account while determining the best joint bank account for couples and unmarried individuals in 2023. We also sought to find checking accounts that pay interest or, at the very least, have savings accounts that complement them effectively. Finally, we determined that transferring and taking funds from as many locations as possible was critical.

#1. Ally Bank

Ally provides the best checking account because there are no fees and minimum deposits.

  • There are no monthly costs.
  • Checks are free with limitless refills.
  • User-friendly online and mobile tools
  1. Some other accounts provide higher interest rates.
  2. There are no physical branches
  3. Inability to deposit cash


It’s challenging to beat Ally’s Interest Checking Account, whose ease of account management for couples and ability to eliminate practically all fees make it our overall champion among joint checking accounts. Ally, relaunched in 2009 as an internet-only bank, now provides savings, money market, and CD accounts, as well as mortgages, auto, personal, and investment loans.

In 2023, couples and unmarried individuals can quickly and easily open a joint bank account with Ally. Almost all of the processes can be done online. While there are no physical branches, customer care is easily accessible via phone or live chat, available in the app and through internet banking.

#2. Capital One

This account is ideal for parents and kids because it has parental restrictions, separate parent and teen logins, and no minimum balance requirements.

  • There are no monthly costs.
  • Parental supervision and control
  • Setting financial goals and tracking progress
  • Low-interest earnings
  • No writing checks
  • Out-of-network ATM fees


Opening a joint bank account for couples and unmarried people in 2023 with your tween or teen is a great way to teach them how to handle money responsibly. You can keep track of their account activity and use it as a teachable moment about money. Capital One’s mobile app makes it easy for parents to stay on top of their child’s banking, whether you’re moving allowance payments or just keeping an eye on your child’s transactions. It’s our top pick for joint parent-child accounts.

#3. Axos Bank

Axos Bank is suitable for frequent ATM users because it provides limitless domestic ATM fee reimbursements, ensuring that your travels to the ATM are free of charge.

Advantages and disadvantages

  • There is no requirement for a minimum balance.
  • There are no overdraft fees.
  • Refunds for domestic ATM fees are unlimited.
  • There are no free checks available.
  • There is no Zelle support for person-to-person payments.
  • There are no physical branches


Axos Bank was founded in San Diego on July 4, 2000. It used to be called Bank of Internet USA, but in 2018, it changed its name to Axos. It has made a name for itself, though, under its new name. Its attractive online checking accounts have helped it get on many “best of” lists and rankings.

Axos is our top pick for couples who use ATMs a lot because it reimburses ATM fees in large amounts, and the refunds can be used with any of their bank accounts.

#4. Wells Fargo & Company

Wells Fargo provides online and in-person banking to its customers, so you may get personalized attention and get your questions answered in person at one of their branches.

  • Has about 4,900 branches in 37 states.
  • Most consumers can readily waive monthly fees.
  • A variety of checking account alternatives are available.
  • The ability to swiftly transfer and receive money from others via Zelle.
  • To avoid fees, minimum balances or other conditions must be met.
  • Checking accounts that pay interest pay only a fraction of a percent.


Wells Fargo was started in 1852, making it one of the oldest banks in the United States. It is also the third-largest bank by assets. Wells Fargo has branches in 37 states and the District of Columbia, so there is a good chance that you live near one. This is why it is our top pick for branch banking.

Everyday Checking will be Wells Fargo’s most basic joint bank account for couples and unmarried individuals in 2023. Although there is a monthly fee of $10, anyone who retains at least $500 in the account or has at least one direct deposit of $500 hit the account each month is not charged the fee.

#5. Presidential Bank

Presidential Bank has among the best interest rates on checking accounts, allowing you to earn money on money you already have in the bank. Another advantage is that the initial set of checks is free.

  • 2.25% APY on balances up to $25,000
  • The monthly maintenance price is easily waived.
  • The first order of checks is complimentary.
  • Make a monthly direct deposit of $500 or more to get a high-interest rate.
  • There is no Zelle support for person-to-person payments.
  • A minimum balance of $100-$25,000 is required to avoid the monthly cost.


Presidential Bank was started in 1985 and has its main office in Bethesda, Maryland. It now has nine branches in the greater Washington, D.C., area. However, its internet banking platform serves people all around the country. Its high-interest rate, combined with a relatively simple list of qualifying transactions, makes it our top choice for a high-yield joint bank account for couples and unmarried persons in 2023.

#6. LendingClub Banking

LendingClub Banking, which recently bought Radius Bank, gives cash back on unlimited debit card purchases and doesn’t charge monthly maintenance fees. This makes it an excellent choice for clients who want to earn cash back on their bank accounts.

  • There is no minimum balance requirement or monthly maintenance cost.
  • Cashback of up to 1% on unlimited debit card transactions
  • Unlimited ATM fee reimbursements, even when traveling internationally
  • A free initial set of checks
  • Depending on your balance, you may receive little or no interest.
  • A large balance or direct deposit total is required to be eligible for cashback.
  • There is no Zelle support for person-to-person payments.


Cash-back checking is a novel concept. Although giving clients cash back on purchases is expected in the credit card industry, it is uncommon with bank debit cards. So far, no one has been as generous as LendingClub Banking, earning them our accolade for the best cashback checking account for couples.

#7.  Liberty Federal Credit Union

Liberty Federal Credit Union welcomes new members and provides high-interest rates on debit cards. It also has no monthly maintenance payments.

  • 3.30% APY on balances that meet specific criteria
  • There is no minimum balance.
  • Monthly ATM charge reimbursements of up to $15
  • A monthly minimum of 15 debit card transactions
  • A monthly direct deposit is required.
  • must become a member of the credit union


Are you not a teacher? Do you live outside of Evansville, Indiana? Don’t worry about it. You do not need one of these things to become a member of Liberty Federal Credit Union. Anyone willing to make a $5 payment to the local high school alumni organization can join LFCU and enjoy their Vertical Checking account.

LFCU made our list by giving the highest interest rate among reward checking accounts for individuals who must complete specific requirements each month to earn a high yield.

Choosing a Joint Bank Account

Choosing a joint bank account for couples and unmarried people in 2023 is no different than selecting an individual checking account. In either scenario, you want the best account to manage your daily finances. When deciding which checking account is best for your banking needs, think about the following things:

  • Minimum account balances and other criteria
  • Monthly service fees and additional bank fees
  • Customer service options and business hours
  • Tools for digital banking
  • ATM charge waivers or waivers of ATM fees
  • Tools for automatic saving

Which is the best bank for a joint account?

Best Joint Checking Accounts of 2023:

  • Ally Bank.
  • Capital One.
  •  Axos Bank.
  • Wells Fargo.
  • Presidential Bank.
  • LendingClub Banking.
  • Liberty Federal Credit Union.

Is a joint account good for couples?

Couples may have joint accounts so spouses can access money anytime. If an account has one person’s name on it and that person becomes injured or ill, their partner may be unable to withdraw the funds needed for medical expenses or other bills.

Can an Unmarried Couple Open a Joint Bank Account?

Regardless of your marital status, you can open a joint bank account. While joint accounts work well for some couples, they can be dangerous for others. First, regardless of how much each account holder has contributed, both account holders have unlimited spending power from joint accounts.

What are the Disadvantages of a Joint Account?

  • Availability.
  • Reliance.
  • Unfairness.
  • Inadequate privacy.
  • Joint and several liabilities.
  • Benefits have been reduced.

What are the 2 types of joint accounts?

There are two typess of joint accounts in the United States: survivorship accounts and convenience accounts.

Why you shouldn’t open a joint account?

She believes that having a single joint account with a spouse or partner can lead to power imbalances and a loss of independence, especially if the relationship becomes strained. Other specialists concur.

Is it better to have a joint or separate account?

Joint accounts can help couples budget and communicate financial information more easily. If you prefer to keep most of your financial information private, separate accounts may be a better option.

Are joint accounts always 50-50?

“A lot of people believe a joint bank account is 50/50,” Reich observes, “but it’s 100/100.” That is because both people have full access to the funds, so it is legal for either participant to withdraw the entire amount from the joint account at any moment.


A joint bank account is an excellent method for couples or unmarried people, parents and children, and business partners to handle money jointly. Your circumstances will determine the one you choose in 2023. Before choosing an account, consider all the features, such as interest rates, fees, ATM access, parental controls, and minimum balance requirements.

While all of the alternatives on our list are suitable for a joint bank account for unmarried persons or couples in 2023, our top pick is Ally Bank because it doesn’t demand a minimum deposit to create an account, has no monthly fees, and has an extensive network of ATMs.


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