Joint bank accounts

When you apply for a joint account online, each account holder will have direct access to the funds in the account, through digital channels like NAB Internet Banking and the NAB app, with a debit card or in a branch. This means each account holder can access the account individually to withdraw or deposit money separately from the other account holder.

If you want both account holders to jointly operate the account - meaning that both need to give permission for deposits and withdrawals - you'll need to come into a branch to arrange this. Don't apply online.

If your situation changes and you want to change how both people access the money, please visit a branch.

You can apply online if both applicants meet these criteria:

To find the best joint account for a couple, it’s important that you discuss your financial goals and spending habits together before you apply. You should also consider keeping your own separate bank accounts, as well as the joint account. Keep in mind, all owners of the account will have access to the money you deposit into the account.

Some things you should discuss and agree on before you apply are:

• how much is deposited
• how often each person makes a deposit
• what expenses get paid out of the joint account
• what fees are associated with the joint account
• what your savings goals are
• how the account can be used (do both people have to authorise transactions, or just one)
• what your exit strategy will be in case the joint account needs to be closed.

Who can open a joint account?

Joint accounts are typically used by couples to manage shared expenses and savings. However, you can open a joint account with someone other than your partner:

• A parent could open a joint account with their teenager, to help them manage their spending.
• Housemates could use a joint account to pay for household expenses like groceries and bills.
• Siblings could use a joint account to manage the costs associated with caring for an elderly parent.

Remember that when you open a joint account, all account holders have access to the money. Make sure you communicate about what the money in the account should be used for, and when it’s acceptable for an account holder to access the funds.

The way you close a joint account will depend on how it was initially set up.

If the account was set up to require more than one signature to close, you’ll need to call us.

If the account only requires one signature, then you may be able to close the account by chatting to our bankers via the chat function online or by calling us on 13 22 65.