Joint accounts

The convenience of sharing an account

What's your plan?

Are you and your spouse planning to buy a home together, or take a dream vacation? Are you looking for an effective way to manage shared expenses? A joint account might be right for you. Learn more before you decide.

Perfect if you are looking to:

  • Simplify your household finances
  • Save for a common goal (a home, a vacation, a wedding, etc.)

How to open a joint account

Step 1 icon

Choose an account

Chequing account

Use your chequing account for day-to-day transactions, such as bill payments and transfers between accounts or e-Transfers. It comes with a bank card and cheque book.

Savings account

Use your savings account to put money aside for a specific goal, like an upcoming vacation, or to ensure you have an emergency fund in case the unexpected happens, for example you lose your job. With this type of account, you'll earn interest on your savings.

Step 2 icon

Gather your documents

You'll need to go to a branch to finalize the account opening. Be sure to bring two pieces of ID (one with a photo).

If you're a newcomer to Canada, you'll need to bring a valid passport and a document issued by Citizenship and Immigration Canada (like a visa, work permit or study permit).

What to bring with you
Step 3 icon

Visit a branch

Go to a National Bank branch so we can confirm your identity and issue you a debit card. This is a great opportunity to ask any questions you might have.

Schedule an appointment online: Choose the branch location and time that work best for you.

Make an appointment

4 things to remember

Account co-holders

You should only open a joint account with someone you trust. Your co-holder can carry out the same transactions as you, including purchases, withdrawals and deposits. They are not required to obtain your consent to use your joint account, even if you are the one who deposited the money in the account. The co-holder can even close the account without your consent.

Potential ramifications

Should you and your co-holder separate or divorce, the money in your joint account could be considered part of your family assets. The account could also be frozen if debt is involved, preventing you from accessing the funds. If either of you declares bankruptcy, the funds may be subject to creditors' rights.

“How do we manage our finances as a couple?”

We’re here to answer your questions

Find answers


Little details that matter

  1. In Quebec, the money held in a joint account will be frozen if one of the co-holders passes away.

Ready to open a joint account?

Talk to one of our experts to get tailored advice.

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